Gov't to invest Php 1.75B in coconut industry in 2013

President Benigno Aquino III, during his 3rd State-of-the-Nation Address, said government plans to invest Php 1.75 billion to further develop the coconut industry in 2013.

This, after government efforts to facilitate and promote coco water exports resulted in the 823 percent increase in the volume of coco water exports, from 1.81 million liters worth $1.84 million in 2010 to 16.75 million liters worth $15.11 million in 2011, he said.

It also resulted in the 39.15 percent increase in the quantity of coco coir exports from 4.43 million kilograms(kg) (net) worth $974,586 in 2010 to 6.16 million kg (net) worth $2.01 million in 2011, the President added.

Meanwhile in Region 10, coco water exports chalked at 2,495.80 metric tons, during the first quarter of 2012, posting an increase of 88.62 percent compared to 1,323.21 MT, in the same period of 2011.

Correspondingly, the commodity was valued at $2.63 million in freight-on-board, meaning the country of destination paid for its transportation, or an increase of 157.95 percent compared to $1.02 million in the first quarter, last year.

During the period, coco coir exports in the region was also noted at 77.60 MT with an FOB value of $26,490, Luis G. Cruz, regional manager of the Philippine Coconut Authority -10, said.

On the other hand, the volume of activated carbon exports increased from 28.12 to 1,013.65 MT or 3,504.73 percent, while its value in FOB also increased from $65,192 to $1.58 million or 2,317.22 percent.

The other coco products also increased in volume: coco shell by 140.55 percent; coconut shell charcoal, 113.05 percent; desiccated coconut, 50.20 percent; and reduced fat coconut, 10.88 percent.

In terms of value in FOB, coco shell also increased by 143.45 percent; coconut shell charcoal, 178.23 percent; desiccated coconut, 62.74 percent; and reduced fat coconut, 41.82 percent.

The volume of copra cake/meal exports also increased, from 10.117 MT to 12,600 MT or 24.54 percent, however, its value in FOB declined, from $1.87 million to $1.28 million or 31.30 percent.

Cruz said the following new players in the industry, for the year, including their FOB values were also noted during the quarter:
sweetened coconut with a volume of 20.40 MT at $58,800; palm-oil crude, 20.09 MT at $19,805; and palm fatty acid distillate, 69.69 MT at $102,701. - PIA — ARA