Coconut oil exports drop due to continuous rains

The United Coconut Association of the Philippines (UCAP) attributed a fall in coconut oil exports to the La Niña phenomenon which resulted in continuous rains, making it difficult to dry the coconut meat or copra and get it delivered to oil mills. Exports of coconut oil fell 22.4% in April, with the country shipping 101,189 tons compared to 130,402 tons during the same period last year. The value of shipments was almost double due to higher prices for the commodity. The Philippines is the biggest supplier of coconut oil, which is used as a feedstock for biodiesel in the country. Yvonne Agustin, executive director of UCAP, indicated the decline was expected. UCAP had projected that coconut oil exports would be 900,000 tons this year which is a third lower than last year’s shipments, she said. (May 26, 2011)