Philippine Export of Coconut Products Down in May

Philippine export of coconut products in May, based from UCAP preliminary data, totaled 86,381 MT in copra terms to record a marked shortfall of 53.3% from same month last year at 185,024 MT.  This likewise lagged by 20.7% from last month unofficial total at 108,995 MT.  All export products but copra meal fared below last year.

Coconut oil export plunged 56.3% year-on-year from 100,580 MT to 43,950 MT and  registered the sharpest fall among export products during the month.  Europe remained a leading destination cornering 63.0% of total lifting or 27,700 MT.  Malaysia was second biggest market this month with uptake at 11,000 MT representing 25.0% of the pack, followed by Japan with 4,750 MT or 10.8%.  Shipment to the US was only 500 MT. 

By contrast, shipment of copra meal, a by-product of coconut oil milling, leaped 36.2% from 13,468 MT to 18,350 MT.  The volume was almost equally split three ways among importers Korea, Vietnam, India.  Korea took in 6,300 MT (34.3%), Vietnam 6,050 MT (33.0%), and India 6,000 MT (32.7%).   

Delivery of desiccated coconut at 8,300 MT slashed by 30.4% last year at 11,918 MT as well as oleochemicals with volume at 3,787 MT as copra posting a sizeable deficit of 45.5% from last year at 6,947 MT. 

Total export for the five-month period to May amounted to 693,343 MT in copra terms.  This is 18.0% behind same time last year data at 845,834 MT.  Desiccated coconut and oleochemicals remained growth performers, topping year-ago figures by 11.7% and 3.9%, respectively.  Breakdown is as follows, in MT: coconut oil 364,835 (467,572 last year), copra meal 97,021 (125,169), desiccated coconut 60,470 (54,131), oleochemicals as copra 20,749 (19,966).