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| Ucap says coconut production to increase 5.4% in ?09
By Othel V. Campos Coconut production is expected to rise 5.4 percent to 2.516 million metric tons in copra terms this year from an estimated 2.386 million MT in 2008. The United Coconut Association of the Philippines predicted the higher output due to improved weather conditions and above normal rainfall levels in coconut-growing region. ?The event strongly suggests a second consecutive growth year following a recovery from production shortfall in 2007,? the UCAP report said. It sees copra exports of 1.619 million MT this year, down 0.8 percent from 1.632 million MT in 2008. Coconut oil production is expected to contract 7 percent to 835,000 MT from 840,547 MT in 2008 while output of oleochemicals will drop 9 percent to 80,000 MT from 87,952 MT. Ucap expects copra meal production to grow 4.5 percent to 460,000 MT from 440,066 MT and desiccated coconut to rise 1.8 percent to 138,000 MT from 135,609 MT. The Ucap report attributed slower export growth this year to an increased demand for coconut oil in the domestic market, especially for biodiesel feedstock, and the need to boost stocks after a sharp depletion in 2008. Export of coconut products in November reached 107,708 MT in copra terms, according to preliminary Ucap data. Excluding revenue from oleochemicals, November exports stood at $71.645 million, down 14.7 percent year-on-year. Coconut oil exports fell 25.8 percent to 54,428 MT from 73,329 MT on year. Copra meal plunged 60.3 percent to 17,779 MT from 44,805 MT. Delivery of desiccated coconut slumped 17.9 percent to 9,040 MT from 11,017 MT. Oleochemicals shipment also went down 6.7 percent to 7,338 MT from 7,865 MT. |
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