MANILA (Dow Jones)--The Philippine Coconut Authority is expected to lower its
coconut oil export target for the year due to weak demand in major markets, a
senior official of the agency said Monday.
The agency had earlier set an export target of at least 1 million metric tons
for 2009 on the back of recovery in the production of copra, the dried coconut
meat from which the oil is extracted. "There will be changes. We might not be
able to meet the target as shown by the trend in monthly exports," said PCA
deputy administrator Arturo Liquete.
Coconut oil exports in the first two months of the year fell 68% to 57,292
metric tons from 182,671 tons in the same period a year earlier on softer
demand in major markets due to the global economic slowdown.
Liquete said the agency is currently firming up revised targets with the
United Coconut Associations of the Philippines, or UCAP.
Unlike the PCA, the UCAP had already projected at the start of the year that
coconut oil exports this year could fall slightly by 0.8% to 835,000 tons on an
expected increase in local consumption.
Meanwhile, the PCA said final estimates of the country's coconut oil exports
in 2008 show a 4.4% contraction to 847,626 tons.
Despite lower exports last year, revenues reached a record $1.034 billion, up
42% from 2007 as export prices soared to a record high around the middle of
last year.
Average prices rose by as much as 48% to $1,219.48/ton on a free on board
basis.
On Monday, coconut oil was offered at $570-$580/ton FOB.
Регион | Закуп. | Изм. | Прод. | Изм. |
---|---|---|---|---|
ЦФО |
29800.00 | + 650 | 30000.00 | + 840 |
ПФО |
28940.00 | + 990 | 29000.00 | + 950 |
СКФО |
29450.00 | + 750 | 30000.00 | + 1050 |
ЮФО |
29250.00 | + 1100 | 29700.00 | + 750 |
СФО |
29300.00 | + 900 | 29500.00 | + 1200 |
Регион | Закуп. | Изм. | Прод. | Изм. |
---|---|---|---|---|
ЦФО |
72000.00 | + 1000 | 73300.00 | + 50 |
ЮФО |
69800.00 | + 0 | 74000.00 | + 0 |
ПФО |
71500.00 | + 500 | 73100.00 | + 100 |
СФО |
72500.00 | + 500 | 74900.00 | - 100 |
Обсуждение