MANILA, Philippines - The volume of coconut oil (CNO) exports rose in March because of carry over shipments from February and slight uptick in demand from key markets.
The United Coconut Association of the Philippines (UCAP) said that CNO shipments in March rose 125 percent to 142,991 metric tons (MT) from 63, 649 MT in the same period last year.
“There were shipments due for February that only made it in March. There was also a slight increase in demand from key markets,†said UCAP executive director Yvonne Agustin.
Agustin said the average world market price for coconut oil is still on the down trend at $814 per metric tons (MT).
Coconut oil, which traditionally accounts for the majority of coconut product exports, rose 3.7 percent to 851, 913.18 MT in 2012 from 821.445.37 MT in 2011.