Coco product exports up nearly 100% in Q1

The volume and value of coconut products shipped to overseas buyers in the first quarter soared as nut production increased and demand for coco oil in key markets strengthened, government data showed. 

 

Exports rose by 96.88 percent to 391, 231.76 metric tons (MT) in the first three months of the year from 198, 717.22 a year earlier, according to Philippine Coconut Authority (PCA) data.

 

The shipments were valued at $292.22 million, up 23.17 percent from $237.25 million  in the same comparable period.

 

Coconut oil remains the major coconut export commodity with total shipments of 222,299.96 MT 

valued at $202.63 million. In value terms the shipments were up by 36.48 percent from $148.47 million By volume, coconut oil shipments rose by 108.98 percent from 106,371.53 MT.

 

There was higher demand for coconut products in January to March, Yvonne Agustin, United Coconut Association of the Philippines executive director, said earlier, citing the United States and Europe. — VS, GMA News