Philippines: Less exports of coconut oil seen this year
Other Coconut Oil
Philippines
Published Apr 17, 2021
Tridge summary
The Philippines is seen to export less coconut oil this year despite increased production as logistical issues brought on by the pandemic weigh in.
Original content
MANILA, Philippines — Based on the latest report of the United States Department of Agriculture-Foreign Agricultural Service (USDA-FAS), coconut oil exports may decline to 875,000 metric tons (MT) this year, based on estimates from the United Coconut Association of the Philippines (UCAP). The figure is 21 percent lower than last year’s 1.112 million MT and will be the lowest since the 882,563 MT recorded in 2016. Coconut oil exports dropped by around seven percent last year from 1.197 million MT in 2019. Coconut oil is the largest Philippine agricultural export and its top markets are the EU and the United States. “Exports of coconut oil also may be disrupted by logistical issues with traditional trading partners due to COVID-19 restrictions,” the USDA said. Meanwhile, the USDA reported that the Philippines’ coconut oil output is expected to increase by nearly five percent to 1.65 million MT, consistent with the expected increase in copra harvests. For this year, copra production ...
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