Coco products exports down 50% in 1st qtr
Exports of coconut products for the first quarter dropped 50 percent to 249,594 metric tons (MT) in copra terms compared to the first quarter of 2006 when coco products exports amounted to 493,151 MT, according to official data from the Philippine Coconut Authority (PCA).
The biggest drop was recorded by coconut oil exports which plunged to 111,749 MT from the 265,536 MT exported during the same period last year.
Copra meal exports for the first quarter of this year amounted to 65,309 MT, down substantially from the 119,228 MT exported in the first quarter of 2006.
Desiccated coconut exports for the three month period amounted to 31,212 MT, slightly lower than the 32,272 MT exported in the first three months of 2006.
Oleochemical exports (as copra) amounted to 23,958 MT, slightly higher than the 21,771 MT exported for the first quarter of 2006.
Glycerin exports amounted to 1,435 MT for the three-month period compared to 3,172 MT for last year. Fresh coconuts for the first quarter this year amounted to 232 MT, down from 479 MT for the comparable period last year, others coconut product exports reached 5,991 MT compared to the 5,458 MT exported last year.
PCA figures show that Philippine export of coconut products in March alone this year plunged 65.3 percent from 237,478 MT in March 2006 to 82,517 MT this year.
The drop in exports is the sharpest year-on-year decline.
Revenue likewise tumbled 43.7 percent from $93.956 million to $52.862 million. All major exports for March this year registered declines led by coconut oil which dived 71 percent from 134,775 MT in March 2006 to 39,054 MT, followed by oleochemicals which shrank 18.3 percent from 5,397 MT last year to 4,412 MT.
- Latest
- Trending
