VCO exports down 43.5% in March

EXPORT receipts from virgin coconut oil reached $9 million in March, making it the top nontraditional coconut product of the Philippines during the period, according to data from the Philippine Statistics Authority (PSA).

In terms of volume, PSA data showed that VCO shipments amounted to 2,490 metric tons (MT), 43.5 percent lower than last year’s shipments of 4,409 MT.

Based on PSA data, the US was the top buyer of VCO in March with a 52.9-percent share (1,316 MT) of total sales. Other major importers of local VCO during the period were Germany, Canada and the United Kingdom.

Coconut water was the second biggest nontraditional coconut-based export in March, with sales reaching 6.86 million liters valued at $7.31 million.

Unlike VCO, coconut-water exports jumped by 152.4 percent, compared to 2.72 million liters shipped out in the same period last year.

The US also accounted for the bulk of shipments at 4.96 million liters. The UK bought 1.26 million liters of local coconut water.

The remaining volume of coconut- water shipments went to the Netherlands, Canada, Spain, Australia and France, among others.

Outward shipments of coir and coir products in March also expanded by 19.3 percent to 1,263 MT from 1,063 MT posted in 2015. Coir exports were valued at $2.42 million, making it the third biggest non-traditional coconut export during the period.

Japan was the top buyer of coir, accounting for 565 MT. The US and Spain were the other top markets for coir.

Data also showed that glycerin shipments in March slightly rose by 5.4 percent to 5,162 MT (valued at $1.99 million) from 4,899 MT in 2015.

Bath-soap exports reached 626 MT, 26 MT lower than last year’s 652 MT. Earnings from coconut bath soap reached $1.246 million.

About $1.05 million was earned from the trade of 243 MT of coconut milk powder, while the outward shipment of 416 MT of liquid coconut milk brought in $710,229.

The United Coconut Associations of the Philippines earlier said the drought or lack of rainfall experienced by the country last year resulted in lower copra output this year. 


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