THE country’s coconut exports for the month of May dropped by almost 41 percent to 95,271 metric tons (MT) in copra terms, from 160,939 MT shipped out in the same period last year, according to official figures from the Philippine Coconut Authority.

Shipments of coconut oil (CNO)—the Philippines’ top farm export—declined by 46.3 percent year on year to 46,132 MT, from the 85,977 MT exported last year.

PCA figures show that other major exports registered declines in terms of volume during the month. Copra meal delivery slumped 41.0 percent to 40,358 MT; desiccated coconut dwindled 10.9 percent to 10,424 MT; oleochemicals fell 7 percent to 5,292 MT.

Despite the massive drop in exports for the month of May, the cumulative coconut shipments for January to May went up by almost 31 percent to 760,700 MT in copra terms. Revenues from the shipments almost doubled to $651.01 million, from $331.22 million posted in January-May 2007.

Year-to-date shipments of CNO reached 408,909 MT, up from 289,242 MT registered in January to May 2007. Among the major coconut products being exported by the Philippines, shipments of dessicated coconut and activated carbon declined in January to May 2008.

Coconut oil export in May consisted of 12,483 MT crude coconut oil, 32,893 MT cochin oil (refined, bleached oil), and 756 MT RBD oil. Shipments of CNO in May marked a “first” in history, where cochin oil lifting surpassed that of crude coconut oil.

The United States was the leading market at 34,373 MT to account for 74.5 percent of total sales. This comprised mainly of cochin oil at 28,743 MT and crude coconut oil at 5,630 MT.

Korea was the biggest buyer of local copra meal at 36,941 MT, which accounts for almost 92 percent of the total copra meal shipped out in May.

As for dessicated coconut, the product was exported to 43 countries in May. The top market was the United Kingdom, which bought 1,815 MT of dessicated coconut.

Manufacturing output expands 5.1% in June

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17th Mindanao business meet opens today in Dipolog City

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Coco exports in May drop 40%, PCA figures show

THE country’s coconut exports for the month of May dropped by almost 41 percent to 95,271 metric tons (MT) in copra terms, from 160,939 MT shipped out in the same period last year, according to official figures from the Philippine Coconut Authority.

Local franchisers seek law to regulate franchising industry

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Subic golf course in $48-M redevelopment

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Government to revitalize tourism promo in Japan

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