Coco exports up 15%

MANILA, Philippines - The aggregate value of Philippine coconut exports rose 14.98 percent in the first five months of the year as demand for coconut oil and other coconut manufactures increased.

Data from the Philippine Coconut Authority showed that the value of coconut exports increased to $746.3 million during the period from the $649 million recorded in the same five-month period last year.

From January to May 2013, the volume of coconut exports increased to 1.023 million metric tons from 570,000 metric tons in the comparable period last year.

Coconut oil remained the top dollar earner for the industry, contributing $506.8 million; followed by desiccated coconut with $80.6 million; and copra meal with $75.1 million.

The United States, Japan, Germany, the Netherlands, and China remained the top destinations for the country’s coconut products.

PCA expects coconut oil exports to reach 925,000 metric tons (MT) this year, almost the same as last year’s target.

“This year, we expect better performance in CNO (coconut oil) exports as our markets recover from last year’s economic slowdown. Also, prices have started to recover, which is very encouraging for us,” said PCA administrator Euclides Forbes.

Data from the Bureau of Agricultural Statistics (BAS) showed that coconut production contracted 1.26 percent in the first semester of the year because some plantations are still reeling from the onslaught of Typhoon Pablo which leveled coconut lands in December 2012. 

Low copra prices also resulted to low production in Aurora, while plantations in Batangas are still beleaguered by scale insect infestation.

Exportation of coconut products and manufactures, however, were not adversely affected because of sufficient buffer stock.