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Philippine coco-based exports down 25% in April
Publication Date : 19-06-2014
The monthly volume of coconut-based exports of the Philippines plunged by 25 per cent year-on-year in April, the seventh month in a row, as the domestic industry continued to suffer from the effects of Super Typhoon Yolanda (Haiyan), which hit major coconut producing regions in the country, and a cyclical downturn in output.
Preliminary data from the United Coconut Associations of the Philippines (Ucap) showed that the country shipped out in April a total of 117,924 tonnes in copra terms.
The decline was worse in the first two months of the year, with the volume shrinking 46 per cent to a total of 438,700 tonnes.
January-to-April shipments of coconut oil (CNO) plunged 49 per cent to 237,831 tonnes; copra meal by 53 per cent to 156,947 tonnes; desiccated coconut by 17 per cent to 34,009 tonnes; and oleochemicals as copra by 3 per cent to 8,610 tonnes.
During the four-month period, there was no copra export compared to 70 tonnes in the same period of 2013.
In April alone, shipments of top dollar earner CNO fell 27 per cent to 63,621 tonnes while copra meal dived 72 per cent to 23,025 tonnes.
Copra meal is the residue left after oil is squeezed out of copra and it is used to make livestock and fishery feeds.
The volume of desiccated coconut exports also dropped 25 per cent to 9,339 tonnes.
On the other hand, oleochemicals registered the only positive growth at 142-fold to reach 2,500 tonnes from 167 tonnes.