Coco exports up in July
MANILA, Philippines - Philippine coconut oil exports rose year-on-year in July as stock requirements in traditional markets rose, the United Coconut Association of the Philippines Inc. (UCAP) said yesterday.
UCAP executive director Yvonne Agustin said CNO exports in July reached 115,104 metric tons (MT), up 14.4 percent from 100,658 MT in the same period last year.
In June, CNO exports fell 22.5 percent to 63,408 MT from 81,787 MT in the same period a year ago because of slow down in the delivery of copra.
“The majority of our buyers started to fill up their inventory,†she said.
In the first seven months of the year, CNO exports rose 51.7 percent to 746,759 MT from 492,129 MT during the same period last year.
Agustin said demand for CNO in the world market – particularly in Europe and the United States – is expected to pick up for the rest of the year.
Exports to these destinations account for 80 percent of the total CNO exports.
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