GOV.PH

QUEZON CITY, Philippines — The coconut industry demonstrated a strong footing even in the year of pandemic. According to the latest report of the Philippine Statistics Authority (PSA), of the ten key product categories in terms of export value, coconut oil had the biggest yearly gain of 76.9%, from a Free on Board (FOB) value of 79 Million USD in October 2020, to 139.76 Million USD in October 2021, or an increase of 60.76 Million USD.

Likewise, comparing the January to October data of 2020 and 2021, also from the data of the Philippine Statistics Authority (PSA), coconut-based products posted a high growth rate of 48.8% with all major exported coconut-based products posting double-digit growth rate. Copra price also increased from its lowest farm gate price of 14 pesos in November 2019 to 36 pesos in November 2021 and millgate price from 19.46 pesos to 46.23 pesos per kilo of copra.

Read more ...