PHILIPPINE COCONUT OIL EXPORTS for the month of October exceeded last year’s volume by 42.97 percent, according to preliminary data from the United Coconut Associations of the Philippines (UCAP).
According to UCAP’s weekly bulletin, coconut oil exports have reached 101,020 metric tons in October 2009 from 70,655 metric tons last year.
However, year to date volume for the first ten months of the year was lower than the same period in 2008, UCAP president Yvonne Agustin said in an interview.
Coconut oil exports for January to October 2009 only reached 622,743 tons or 13.24 percent lower than the 717,790 tons posted during the same last year.
In September, the key ingredient in food and industrial products enjoyed a 162.2-percent export growth to 104,850 tons from 39,995 tons, according to official data.
UCAP’s monthly bulletin said that almost half—51,553 tons or 49.2 percent—of the month’s coconut oil shipment went to the United States .
Europe was a strong second with an uptake at 47,840 tons, representing 45.6 percent of aggregate.
The rest was shipped to Japan with 4,508 tons, Korea 930 tons and Pakistan 19 tons.
Consolidated coconut products exported in September more than doubled to 185,734 metric tons copra equivalent, up 103.4 percent from 91,308 tons a year ago.
The September 2009 volume was the highest posted since March 2008’s 202,090 MT, UCAP said.
However, shipments of coconut products in the first nine months of the year was down 21.5 percent to 982,531 tons from last year’s nine-month volume of 1.25 million tons.
Copra meal slid by 41.4 percent to 24,896 tons from 42,473 tons; desiccated coconut by 27.7 percent to 9,806 tons from 13,558 tons; and oleochemicals by 39.6 percent to 4,145 tons from 6,862 tons.
Korea remained a primary destination for copra meal with purchases this month at 17,267 tons, accounting for 69.4 percent of total.
Second placer Vietnam was dislodged by Japan with imports at 4,200 tons comprising 16.9 percent.
Vietnam took in slightly lower load at 3,429 tons for a market share of 13.8 percent.
