Coconut products output down 40% in first four months

The monthly volume of coconut-based exports recovered in April with a 4-percent year-on-year increase after deep dives seen in the previous months, according to estimates of the United Coconut Associations of the Philippines (Ucap).

Preliminary data from Ucap showed that shipments of top dollar-earner coconut oil (CNO) exceeded the average recorded in the first few months this year.

Shipment volumes for all major exports totaled at 100,984 tons in copra terms in April, which increased from 97,274 tons in the same month of 2015 and from 80,091 tons last March.

“Total during the month (April) outpaced by 7.5 percent the first-quarter monthly average this year at 93,921 tons,” Ucap said.

The latest figures brought the volume for the first four months of 2016 to 382,746 tons, falling by 39.76 percent year-on-year from 635,354 tons previously.

For the four months to April, shipments of top agricultural export CNO dwindled by 32 percent to 209,982 tons.

At the same time, the volume of oleochemicals rose by 6 percent to 11,558 tons while that of desiccated coconut gained 7 percent to 24,488 tons.

On the other hand, the volume of copra meal fell by 30 percent to 91,749 tons while that of copra dropped 87 percent to 23 tons.

Ucap said that in April alone, CNO shipments barely improved, increasing 0.5 percent year-on-year to 54,776 tons.

“(However, the April volume) beat the first-quarter monthly average at 51,827 MT by 5 percent,” the group said.

About two-thirds or 67 percent of April shipments of CNO, at 36,500 tons, went to the European market, which continued to be the top destination of this commodity.

For April, shipments of copra meal plunged 43 percent to 20,380 tons while the volume of desiccated coconut nearly doubled to 7,385 tons.

Cargoes of oleochemicals also jumped 32 percent to 3,058 tons in copra equivalent. There was no shipment of copra although 48 tons was exported in the same month last year.