MANILA, Philippines - The Philippine Coconut Authority (PCA) presented yesterday a six-year program costing over P8 billion to raise the productivity of the local coconut industry.
Called Coconut Industry Roadmap from 2011 to 2016, the program was presented yesterday by PCA Administrator Oscar G. Garin during the Philippine Coconut Industry Summit at the Philippine Social Science Center in Quezon City.
Meanwhile, the PCA said that for this year, the PCA raised its export projection to 2.355 million metric tons in copra terms, with coconut oil (CNO) exports expected to reach as much as 1.355 million MT.
Total value of exports is projected to reach $1.570 billion.
The Philippines exports copra, CNO, copra meal, desiccated coconut, coco shell charcoal, activated carbon and various other coco chemicals and products.
Compared to the 2009 full year export of only 1.514 million MT, the projected total coconut products exports this year of 2.355 million MT would be a 55.49 percent increase.
Garin said CNO remains the top export product with projected earnings of $1.217 billlion this year, a 106.98 percent increase compared with earnings in 2009 of $588 million.
Garin said this is the 5th time that coco exports will be hitting the billion-dollar mark. The first time was in 1979 with $1.037 billion worth of exports.
Garin said that “this is a good year for the coconut industry. The increased demand of coconut oil comes both from the local and international markets.”
He attributed the increased demand in the local market to the implementation of the mandated two percent blend of coco methyl ester with petro diesel.