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Philippines: Coconut exports rise in AprilThursday, June 04, 2015 > 09:45:58
Philippine coconut exports rose 10.5 percent year-on-year in April, but slower compared to the previous month’s growth rate because of slower trade of copra meal and desiccated coconut, the United Coconut Associations of the Philippines (UCAP) reported.
Preliminary data from the UCAP showed that export of coconut products rose 10.5 percent year-on-year in April to 130,986 metric tons (MT) in copra terms from 118, 555 MT.
This growth rate, however, was slower than the growth rate of 11.8 percent recorded in the previous month at exports of 148,517 MT in copra terms.
Exports of coconut oil posted the only increment during the month among the review products, with shipments rising 19.5 percent to 71,650 MT from 59,968 MT in the same period last year.
The volume of April exports is slightly lower than the monthly average in the first quarter of 72,906 MT.
Out of the total April shipments, 67.7 percent was delivered to Europe while 23.2 percent was shipped to the United States. Other destinations were Malaysia and Japan.
Copra meal external trade was lower by 22 percent to 22,800 MT in April from 29,221 MT year-on-year. Majority or 82.9 percent of the country’s copra meal exports in April was shipped out to Korea. The balance was consigned to Vietnam and India.