Philippine Export of Coconut Products Down in September 2022

Data from the Philippine Statistics Authority show export of coconut products by the Philippines dropped in September 2022 by 6.8% to 148,197 MT in copra terms from 158,928 MT in a similar month a year earlier.  This is the first year-on-year decline recorded in a month in 2022.  Gross export receipts likewise fell 14.9% at USD193.488 million from USD227.310 million.

All major exports suffered year-on-year volume losses during the month.  Export of coconut oil slightly dipped by 4.6% at 78,817 MT from 82,648 MT; by-product copra meal dived 70.2% at 12,465 MT from 41,873 MT.  Desiccated coconut suffered 11.7% shortfall at 13,174 MT from 14,920 MT as did oleochemicals which contracted 41.8% at 2,721 MT as copra from 4,673 MT.

Other products performed as follows, in MT: coco shell charcoal 10,805 (-17.2% from 13,049 year-earlier), activated carbon 7,246 (+5.4% from 6,876), virgin coconut oil 1,778 (-24.6% from 2,357), coco water 10,369 (+4909.3% from 207), fresh coconuts 8 (-62.2% from 22), Others 21,663 (-23.9% from 28,452).

Despite the drop in this month export, total for the nine-month period to September at 1,748,793 MT in copra terms still surpassed a similar year-earlier period data at 1,209,864 MT by a whopping 44.5%. Corresponding revenue likewise topped last year by a hefty 50.4% at USD2.662 billion from USD1.770 billion.

Breakdown by volume is as follows, in MT: coconut oil 939,213 (594,923 last year), copra meal 273,329 (229,623), desiccated coconut 121,829 (116,575), oleochemicals 69,622 as copra (85,308); Coco shell charcoal 87,228 (81,872), activated carbon 63,741 (55,601), virgin coconut oil 20,679 (24,484), coco water 100,600 (13,265), fresh coconuts 156 (613), Others 194,058 (272,800).