CNO exports in March down 69.5%–Ucap
THE country’s coconut oil (CNO) exports in March declined by 69.5 percent to 40,699 metric tons (MT), from 133,437 MT recorded a year ago, according to preliminary data from the United Coconut Associations of the Philippines (Ucap).
Ucap Executive Director Yvonne Agustin said the contraction was due to the onslaught of El Niño, which slashed copra output.
Agustin said traders also failed to ship out some 11,000 MT of CNO in March, as one of the vessels that was supposed to transport it did not arrive. Ucap said CNO shipments in March were the lowest recorded in the first quarter of 2016.
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