Exports of coco-based products down 11% in 2015

EXPORT earnings from coconut-based products fell by 11 percent to $1.63 billion in 2015 from $1.83 billion the previous year, according to the Philippine Statistics Authority.

Shipment volume also fell by 4.3 percent to 1.49 million tons in copra terms from 1.56 million in 2014.

The decline was worse than the preliminary estimate of 3.9 percent from the United Coconut Associations of the Philippines (Ucap), although Ucap estimates monitored major exports only.

Final figures from PSA showed that outbound shipments of coconut oil (CNO) decreased by 0.5 percent to 853,153 tons.

Also last year, the volume of copra meal plunged by 29 percent to 378,085 tons while that of desiccated coconut fell by 38 percent to 67,259 tons.

On the other hand, the volume of oleochemicals rose by 15 percent to 30,365 tons. Copra shipments fell by 14 percent at 480 tons.

In December alone, PSA data showed a better picture as overall exports increased by 26 percent to 70,262 tons in copra terms from 55,992 tons in the same month of 2014.

However, December receipts were 8-percent lower year-on-year at $84.19 million mainly on low prices. December exports of CNO shot up by 30 percent to 36,823 tons while cargoes of oleochemicals surged by 88 percent to 2,090 tons.

However, shipments of copra meal dropped by 36 percent with 32,159 tons while the volume of desiccated coconut fell by 12 percent to 5,093 tons.

There was no shipment of copra last December, but there were 72 tons sent out in the same month of 2014.

According to Ucap, virgin coconut oil (VCO) continued to firm up its status as the Philippines’ top-earning nontraditional, coconut-based export, with monthly shipment volume and value surging in December 2015.

Citing latest data from the PSA, Ucap said nine niche coconut products chalked up more than $100,000 each in export earnings for the month. Of these, the top three rang up more than $1 million each in receipts.

VCO shipments earned $8.85 million or about P410 million. The dollar figure was at least a quarter higher than monthly shipments in 2015, which mostly ranged between $6 million and $7 million

Volume of VCO was pegged at 2,105 tons, jumping 32 percent from 1,597 tons in December 2014.