PHL coco exports drop in 2012 by 21.57 percent

The value of coconut exports dropped 21.57 percent to .54 billion in 2012 from .96 billion in 2011 due to depressed world markets prices.
PCA Administrator Euclides Forbes said depleted prices were due to the weak demand from the United States and Europe.
However, coconut exports increase by 1.49 percent to 1.53 million metric tons (MT) in 2012 from 1.51 million MT in 2011, in terms of volume.
Coconut oil shipments grew by 3.7 percent to 851,913.18 MT from 821.445.37 MT. Receipts of coconut oil, however, dropped by 30. 25 percent to 2.32 million from .41 billion.
Moreover, average world market price of coconut oil dropped by 32.75 percent to ,153.08 per MT in 2012 from , 714.54 in 2011.
The PCA plans to duplicate its 2012 record of fertilizing 20 million coconut trees, again another record for a year and has bought more than a billion pesos worth of salt fertilizer through a public bidding since 2008.
It also wants to establish 300 community based organizations which shall serve as a conduit of its poverty alleviation program known as KAANIB.
The components of the programs are replanting, intercropping, livestock raising, trainings, and it costs P1 million each. [PNA]