MANILA, Philippines - Coconut oil exports rose year-on-year in November on sustained demand from key markets and stable copra supply, according to the United Coconut Association of the Philippines (UCAP).
Preliminary data from UCAP showed that coconut oil shipments in November bounced back to the normal exportation level of 72, 750 metric tons (MT) in November against 43, 427 MT in the same period last year.
“We are comparing with a low base when copra supply was tight but now we have returned to normal levels,†said UCAP Executive Director Yvonne Agustin.
Despite the devastation caused by Typhoon Yolanda to coconut estates in Visayas, Agustin said the country has enough copra stockpile to meet the aggregate export target of 1.1 million MT for this year.
Agustin noted that in the first eleven months of the year, total shipments stood at 1.036 million MT. “It’s very likely that we will hit the target,†she said.
The industry, she said, is still assessing the effects of typhoon devastation to copra stockpile for next year.
“There will of course be a reduction in (production) volume (of copra) and we will feel the effects of this next year. But we are still determining this,†Agustin said.
The Philippine Coconut Authority (PCA) has said that over 34 million trees have been confirmed damaged by Typhoon Yolanda in Samar, Leyte, and in Western Visayas. This comprises 10 percent of 340 million coconut trees in the country.
To protect the population of coconut trees in the affected provinces, the PCA has suspended the issuance of cutting and transport permits for surviving trees.
Only damaged trees in typhoon-affected areas could be cut and transported to prevent decay and infestation of rhinoceros beetles.