UCAP Estimates Lower Exports of Coconut Products in April

Philippine exports of coconut products in April, based on UCAP estimates, dropped sharply by 40.6% to 165,863 MT in copra terms from 279,267 MT in the same month a year ago, but improved by 25.6% from the previous month’s estimated shipment of 132,058 MT. 

  Sharply reduced coconut oil shipments were responsible for the month’s shortfall in overall exports. Coconut oil exports in April plunged 45.8% year-on-year to 86,770 MT from 160,214 MT, given a high base year data comparison.  Average monthly export in the last three years (2022-2024) ranged from 90,868 MT to 135,517 MT.
The traditional markets, the EU and USA continued to account for bulk of delivery with a combined market share this month of 94.5%. The EU took 46,500 MT or 53.5% and the USA 35,500 MT or 40.9%.  The remaining 5.5% was shared by Japan at 2,770 MT and China at 2,000 MT.  

Reduced crushing of copra contributed to a scaled down export of by-product  copra meal by 43.8% to 29,200 MT from 51,975 MT.  South Korea maintained its leading position capturing 64.7% of total trade or 18,900 MT, trailed by China (3,500 MT), Japan (3,500 MT) and Vietnam (3,300 MT), for respective market shares of 12.0%, 12.0% and 11.3%. 

Shipment of desiccated coconut at 14,840 MT was 8.8% above last year at 13,644 MT while oleochemicals showed enhanced growth of 34.3% at 5,189 MT as copra from 3,864 MT. 

The four-month exports to April reached 663,281 MT in copra terms, based on UCAP estimate, a 27.4% cutback from 913,564 MT at the same time last year.  Only desiccated coconut recorded increment over last year during the period as shown in the breakdown following, MT: coconut oil 347,209 (506,973 last year), copra meal 102,650 (115,792), desiccated coconut 59,361(55,498), oleochemicals as copra  20,379 (23,041).