Demand from US, Europe push PHL coco oil exports up 18% in Aug

[jake]

Good news :xxgrinning--00xx3:

igher demand from traditional markets lifted Philippine coconut oil exports by 18 percent in August, United Coconut Association of the Philippines (UCAP) said Tuesday.

Coconut oil Exports in August reached 49,105 metric tons (MT), up from 41, 523 MT a year earlier, said UCAP Executive Director Yvonne Agustin. "There has been an uptick in demand in traditional markets," she added.

Europe and United States are the biggest buyers of Philippine coconut oil.

The export volume last month, however, was the lowest so far this year because of delays in copra deliveries, the UCAP official noted, saying the late deliveries also causes prices of the commodity to go up.

Coconut oil is now fetching $970 to $980 per MT in the world market last month from $870 to $875 per MT in July.

http://www.gmanetwork.com/news/story/327923/economy/agricultureandmining/demand-from-us-europe-push-phl-coco-oil-exports-up-18-in-aug

In certain areas in the Philippines people depend on copra for their everyday needs. Buy Philippine Coconut oil!

[Terpe]

:xxgrinning--00xx3:

[Dedworth]

Is coconut oil the same as what they call palm oil in Malaysia ?

[KeithD]

Is it good news though? More demand means that more jungles are cut down to plant more coconut trees. :Erm:

[jake]

Is coconut oil the same as what they call palm oil in Malaysia ?

Not exactly the same, even though they are related. More products are produced from coconut palm than oil palm.

Coconut oil lubricates more allowing better penetration :omg: Hair products!

[jake]

Is it good news though? More demand means that more jungles are cut down to plant more coconut trees. :Erm:
There is a big difference between the farming techniques of Coconut Palm and Oil Palm.
If anything the planting of Coconut palm has decreased in the Philippines due to the long periods from planting to full bearing trees.
Oil Palm which is mainly in Indonesia and Malaysia is cultivated on large plantations. They cut down all the native jungle before planting. If you look at Philippine farms there is usually some native hardwoods still growing amongst the Coconut trees.

[KeithD]

If you look at Philippine farms there is usually some native hardwoods still growing amongst the Coconut trees. So the native jungle has been removed then apart from the odd tree? :Erm: So that's removing the jungle then and the wildlife! :doh

[jake]

So the native jungle has been removed then apart from the odd tree? :Erm: So that's removing the jungle then and the wildlife! :doh

Did i say either was good :Erm: I should have added 'its better than nothing'!

Deforestation still continues at an alarming rate but these areas are not being planted with coconut trees.