VIRGIN coconut oil posted total exports of $9 million or about P420 million in March, keeping its position as the Philippines’ top-earning non-traditional, coconut-based export.
However, the monthly shipment volume dropped by 44 percent year-on-year, according to the United Coconut Associations of the Philippines.
The United States took more than half (53 percent) of the shipments that totaled 4,409 metric tons. Other major destinations were Germany, Canada and the United Kingdom.
Citing latest data from the Philippine Statistics Authority, UCAP said 12 niche coconut products earned more than $100,000 each in March. Of these, the top six rang up more than $1 million each in monthly receipts.
Coconut water was second with $7.3 million, earned from shipments totaling 6.9 million liters, which was 152 percent more than the volume shipped out in March 2015.
The US cornered about three-fourths of the shipments or about 5 million liters while smaller volumes went to the UK, The Netherlands, Canada, Spain, Australia, France and eight other destinations.
Coco coir and coir products were third as exporters earned some $2.4 million from shipments totaling 1,263 tons, which was 19 percent more than the yearago volume.
Fourth was glycerin with $2 million from the sale of 5,162 tons, which meant an increase of 5 percent in volume.
Fifth was liquid coconut milk, earning a total of $1.2 from 626 tons shipped out. The volume 4 percent lower year-on-year.
Others in the list were coconut milk powder, liquid coconut milk, fresh coconuts, nata de coco, hydrogenated coconut oil, shampoo, and coco peat and dust.
Earlier, UCAP said Philippine exports of coconut-based products might fall by 11 percent to settle at a 2.3 million tons in copra equivalent.
“Coconut areas last year experienced significant rainfall deficits,” Ucap said, adding that rain gauge readings in 2015 were even lower than what was recorded in 2014 when there was no El Niño yet.
The group cited data from the Pagasa (Philippine Atmospheric, Geophysical and Astronomical Services Administration) which show that in coconut-producing regions, the average monthly rainfall were below normal. Ronnel W. Domingo