Exports of coconut products declined by 38% in March
Philippine exports of virgin coconut oil (VCO) fell by 38 percent year-on-year in volume last March to 1,538 metric tons valued at $5.4 million or about P260 million, three months before an organization of American heart doctors advised against VCO in one’s diet.
In terms of value, VCO exports dropped by 40 percent from $9 million or about P420 million, according to the United Coconut Association of the Philippines (Ucap).
Citing data from the Philippine Statistics Authority, Ucap said VCO was the No. 2 non-traditional, coconut-based export product for that month, ahead of 16 other exports that recorded receipts of at least $100,000.
Last March, Spain took a third of shipments or 501 tons. Canada, the United States, The Netherlands as well as 17 other destinations divided up the rest of the month’s VCO exports.
In a “presidential advisory” from the American Heart Association issued last June, the AHA said consumers who wanted to avoid cardiovascular disease (CVD) should decrease the main sources of saturated fat—including coconut oil—in their diet.
The AHA put coconut oil among dairy fat (butter), lard (pork), beef tallow, palm oil and palm kernel oil.
“The fatty acid profile of coconut oil is 82-percent saturated,” the AHA said. “(B)ecause coconut oil increases LDL cholesterol, a cause of CVD, and has no known offsetting favorable effects, we advise against the use of coconut oil.”
Ucap said in a statement that AHA failed to distinguish medium-chain saturated fats and long-chain saturated fats, saying that coconut oil was mostly medium-chain saturated fats, or the healthy type of fat.
“We urge users of coconut oil to draw on their personal experiences,” Ucap said. “Recognize its health benefits and join us in overcoming the malicious campaign on coconut oil.”
Last March, the top dollar-earning niche product was hydrogenated coconut oil with $15.4 million earned from shipments totalling 7,870 tons, which was 231-percent more than the volume shipped out in March 2016.
Coconut water was third as exporters earned $4.4 million from shipments totaling 3.6 million liters. The volume shrank by 48 percent year-on-year.
Others in the list were glycerin, “bukayo” or sweetened fresh coconut meat, bath soap, powder coco milk, nata de coco, soap chips, coir and coir products, shampoo, coco peat or dust, fresh coconuts, coco chips, vinegar and liquid coconut milk.
