Coco oil exports up 18.7%

MANILA, Philippines - Philippine coconut oil exports rebounded in the first seven months of the year on sustained strong demand from traditional buyers and improvements in local copra supply, the United Coconut Associations of the Philippines said yesterday.

UCAP executive director Yvonne Agustin said based on preliminary export data, coconut oil exports from January to July reached 517, 570 metric tons (MT), up by 18.7 percent from the cumulative shipment volume of 436, 058 MT in the same period in 2014.

“We came from a low production base last year. But this year we are expecting an improvement in coconut production from areas that were not affected by Typhoon Yolanda,” Agustin said.