VCO export receipts up 44%

Producers of virgin coconut oil (VCO) earned $151.7 million (about P6.9 billion) in export receipts in 2015, up 44 percent from $105.2 million in 2014, according to the United Coconut Associations of the Philippines.

Citing final data from the Philippine Statistics Authority, the association also said VCO export volume also surged by 58.5 percent to 36,331 tons last year from 22,917 tons in the previous year.

“Exports during the year went to 46 countries,” UCAP said. “The top six importers held volumes above 1,000 tons and collectively accounted for 88 percent of total trade.”

Last year’s top destination for VCO shipments was United States with 21,329 tons or 59 percent of total volume.

Other big buyers were the Netherlands, Canada, Germany, Japan, Belgium, United Kingdom, South Korea, and Australia — which imported at least 400 tons each.

Smaller volumes went to Malaysia, Brazil, Taiwan, South Africa, France, China, Singapore and Czechoslovakia.