Coco-based exports surge
MANILA, Philippines–The growth in the monthly volume of coconut-based exports accelerated to 45 percent year-on-year in March to reach 148,517 tons in copra terms, according to the United Coconut Association of the Philippines (Ucap).
Preliminary figures from Ucap show that the monthly volume recovered after falling 18 percent in February.
The latest figures brought the volume for the first quarter of 2015 to 392,818 tons, rising 26 percent year-on-year.
For the three months, shipments of top agricultural export coconut oil (CNO) jumped by 36 percent to reach 218,718 tons.
At the same time, the volume of copra meal fell by 33 percent to 96,658 tons while that of desiccated coconut went down 20 percent to 25,223 tons.
The volume of oleochemicals was flat at 6,650 tons and no raw copra was shipped out during the period.
The Ucap said that in March alone, total coconut exports exceeded the January-February average of 122,151 tons by 22 percent.
“All export products in review except desiccated coconut posted year-on-year growth and outperformed respective monthly average data,” the group said.
March shipments of CNO revved up by 69 percent to 82,918 tons. Europe continued to be the top destination for CNO shipments, cornering almost two-thirds or 63 percent of the volume.
Further, the United States bought 34 percent of CNO exports while Japan took the rest.
For the month, shipments of copra meal rose by 12 percent to 40,803 tons while the volume of desiccated coconut plunged by 35 percent to 9,088 tons.
