6-month coco exports fall 23%

THE VOLUME of major coconut-based exports in the first semester of 2016 dropped 23 percent year-on-year to 557,083 tons in copra terms, according to the United Coconut Association of the Philippines (UCAP).

Preliminary figures from UCAP showed that, for the six months, shipments of top agricultural export coconut oil (CNO) dropped by 26 percent to 307,879 tons.

At the same time, the volume of copra meal fell by 37.5 percent to 119,091 tons, and of copra by 92 percent with 23 tons.

On the other hand, exports of desiccated coconut rose by 4 percent  to reach 32,985 tons while those of oleochemicals jumped 12.8 percent to 17,365 tons

In June alone, the monthly volume decreased by 3.8 percent year-on-year to settle at 121,167 tons.

UCAP said the June volume was the highest for any month so far in 2016.

The June volume “pronouncedly outstripped the five-month (January to May) average of 87,183 tons by 39 percent,” UCAP said in a report.

June exports of CNO shrank by 8.3 percent to 67,929 tons. However, the volume was the highest in the first half, exceeding the month average of 47,990 tons by 42 percent.

The United States was the top destination for CNO shipments during the month, cornering 33,209 tons or 49 percent of the total volume.

Further, the Europe came at close second with 47 percent of of CNO exports while Japan took the remaining 4 percent.

During the month, shipments of copra meal plunged 85 percent to 5,800 tons, the semester’s smallest shipment of this product.

Exports of desiccated coconut revved up 75 percent to 7,046 tons, outpacing the month average of 5,188 tons by 36 percent.

Cargos of oleochemicals as copra leaped 18 percent to 2,079 tons, but the volume was also 18 percent lower than the monthly average of 2,983 tons.

There was no shipment of copra in June this year, but there were 70 tons sent out in the same month of 2015.