Exports of coconut products up in 1st qtr

MANILA, Philippines - Exports of coconut products rose in the first quarter year-on-year in terms of volume and value following slightly higher nut production during the period and increased demand for coconut oil in key markets, government data showed.

Data from the Philippine Coconut Authority (PCA) showed that the volume of coconut exports for the period rose 96.88 percent to 391, 231.76 metric tons (MT) from 198, 717.22 in the same period in 2012.

The aggregate value of shipments rose 23.17 percent to $292.22 million in the first three months of the year against $237.25 million in the same period last year.

Coconut oil remains as the top coconut export commodity of the country with total shipments valued at $202.63 million in the first quarter, up 36.48 percent from $148.47 million in 2012.

In terms of volume, coconut oil shipments rose 108.98 percent to 222,299.96 MT in the first quarter of the year against 106,371.53 MT in 2012.

Yvonne Agustin, the executive director of the United Coconut Association of the Philippines (UCAP), earlier said that the Philippines enjoyed increased demand from key export markets such as United States and Europe during the first three months of the year.