Philippine Export of Coconut Products Up in December 2024

Data from the Philippine Statistics Authority show the Philippines exported in December 2024 a total of 282,186 MT of coconut products expressed in copra terms.  This is a whopping 55.2% increase over 181,779 MT in the same month a year earlier.  Gross export receipts at USD349.538 million more than doubled (+106.6%) the previous year at USD169.182 million.

Coconut oil export shot up 65.9% year-on-year to an all-time high in a single month at 164,235 MT from 98,974 MT. Shipment of by-product copra meal at 32,586 MT was more than twice last year at 15,824 MT.  On the other hand, export of desiccated coconut fell 8.6% to 11,773 MT from 12,875 MT; as well as oleochemicals which shrank 31.0% to 3,294 MT as copra from 4,772 MT.

Other products performed as follows, in MT: coco shell charcoal 9,262 (-9.4% from 10,218 year-ago), activated carbon 4,938 (-7.9% from 5,362), coco water 12,046 (+76.5% from 6,824), fresh coconuts 2 (-3.8% from 2), Others 18,139 (+2.7% from 17,659).  There was no reported shipment of virgin coconut oil during the month compared to 2,520 in the same month last year.

Export for the calendar year 2024 was 2,904,333 MT in copra terms, a marked increment of 42.5% from 2,038,802 MT at the same time year-ago. Turnover nearly reached USD3.000 billion at USD2.979 billion, an upsurge by 53.2% from USD1.944 billion in the preceding year.  

Breakdown of shipment follows, MT: coconut oil 1,626,206 (1,090,418 year-ago), copra meal 360,060 (284,289), desiccated coconut 170,453 (156,273), oleochemicals as copra 59,522 (66,370); Coco shell charcoal 135,182 (118,034), activated carbon 58,707 (60,188), virgin coconut oil 4,888 (29,337), coco water 123,899 (75,645), fresh coconuts 139 (184), Others 214,766 (199,643).