Coco-based exports down 25% in April

INQUIRER FILE PHOTO

MANILA, Philippines–The monthly volume of coconut-based exports plunged by 25 percent year on year in April, the seventh month in a row, as the domestic industry continued to suffer from the effects of Super Typhoon Yolanda and a cyclical downturn in output.

Preliminary data from the United Coconut Associations of the Philippines (Ucap) showed that the country shipped out in April a total of 117,924 tons in copra terms.

The decline was worst for the first two months of the year, with the volume shrinking 46 percent to a total of 438,700 tons.

January-to-April shipments of coconut oil (CNO) plunged 49 percent to 237,831 tons; copra meal by 53 percent to 156,947 tons; desiccated coconut by 17 percent to 34,009 tons; and oleochemicals as copra by 3 percent to 8,610 tons.

During the four-month period, there was no copra export compared to 70 tons in the same period of 2013.

In April alone, shipments of top dollar earner CNO fell 27 percent to 63,621 tons while copra meal dived 72 percent to 23,025 tons.

Copra meal is the residue left after oil is squeezed out of copra and it is used to make livestock and fishery feeds.

The volume of desiccated coconut exports also dropped 25 percent to 9,339 tons.

On the other hand, oleochemicals registered the only positive growth at 142-fold to reach 2,500 tons from 167 tons.