Philippines coconut products export to hit new record
Friday, 10 December 2010
MANILA, Dec 9 (Commodity Online): World's largest coconut and coconut oil producer Philippines said country's total coconut products export to reach $1.57 billion this year, up 78 per cent from $884 million in 2009.
According to Philippine Coconut Authority, the volume of coconut exports will reach 2.356 million metric tons this year from 1.515 million MT last year.
In Philippines's history 2010 is the fifth year in which coconut exports breached the billion-dollar mark, the first time was in 1979 when Philippine coconut exports amounted to $1.037 billion, PCA said.
Coconut oil remains the top coconut export product, the PCA added.
Coconut oil exports may reach $1.217 billion this year, up by more than 50 per cent from last year's $588 million, because of higher prices in the world market, the agency added.
The volume of coconut oil exports will likely rise 64 per cent to 1.356 million MT from 826,237 MT last year.
The higher demand for coconut oil is coming from both from the local and international markets.
According to Philippine Coconut Authority, the volume of coconut exports will reach 2.356 million metric tons this year from 1.515 million MT last year.
In Philippines's history 2010 is the fifth year in which coconut exports breached the billion-dollar mark, the first time was in 1979 when Philippine coconut exports amounted to $1.037 billion, PCA said.
Coconut oil remains the top coconut export product, the PCA added.
Coconut oil exports may reach $1.217 billion this year, up by more than 50 per cent from last year's $588 million, because of higher prices in the world market, the agency added.
The volume of coconut oil exports will likely rise 64 per cent to 1.356 million MT from 826,237 MT last year.
The higher demand for coconut oil is coming from both from the local and international markets.