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PIA Press Release

RPís coco exports up - PCA

Davao City (21 September) -- An increase in the coco export has been noted as early as the first quarter of 2006 registering some $190.578 million or higher by 7.3 percent of the same period last year.

The Philippine Coconut Authority report indicated that the 2005 first quarter recorded only some $177.615 million in export earnings.

In a statement PCA administrator Oscar G. Garin said that copra meal is gaining a full comeback to the global market but at 46.31 percent lower price of $40.26 per metric ton compared with $74.99 last year.

Export of copra meal in terms of volume for the first quarter this year increased by 78 percent in volume at 237.76 thousand metric tons as against the same period in 2005 at 178.61 thousand metric tons where it (copra meal) earned $4.84 million.

ďThere are changes in coconut oil in terms of volume, foreign earnings and price,Ē Garin said.

He said there is a 33.12 percent increase in volume exported for the period at 237.76 thousand metric tons compared with 178.61 thousand metric tons for the same period in 2005.

He added that the world average price of copra dropped by 14.73 percent to $514.37 per metric ton compared with $603.24 thousand metric tons for the same period last year.

Coconut oil earned some $122.29 million for the first quarter in 2006, he said.

He said there is also a good export performance of coco chemicals as the products showed 13.02 percent increase by export volume at 27.28 thousand metric tons, raking in some $11.82 million.

Garin however said that the figures for the first quarter are only the initial outlook for the year and could not be conclusive because other factors may come in as the year progresses.

Meanwhile Garin noted a decrease in export earnings from other coco products such as coco shell charcoal by as much as 25.8 percent or at $1.57 million and a slight drop at export volume for dessicated coconut by 3.85 percent. This was however cushioned by 5.93 percent increase in prices of dessicated coco, which is pegged at $1.017 thousand per metric ton. The product has brought an estimated $29.435 million in export earnings. (PIA XI/pdbanzon) [top]

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