Coconut exports valued at US$1.13-B in 1H of this year
The value of the country’s coconut exports still thrive higher at US$1.13 billion in the first six months of the year despite the campaign of some American groups against coconut oil.
According to United Coconut Associations of the Philippines (UCAP), the interest for coconut products from the Philippines is still there despite the misinformation on coconut oil, which apparently came from competitor products such as soybean oil.
Yvonne T. Agustin, UCAP executive director, said January to June 2017 export was at $1.132 billion, nearly double the $636 million export for all products in the same period of 2016.
Right now, UCAP said the private-public sector trade group is set to carry out more programs to attest to authorities scientific proof of coconut oil’s nutritional benefits.
Dr. Fabian M. Dayrit Asia Pacific Coconut Community (APCC) Scientific Advisory Committee-Health chairman, said APCC has already communicated with the Food and Agriculture Organization (FAO) regarding its position against a presidential advisory issued by the American Heart Association that branded coconut oil as a saturated fat and classified it as the same as any animal fat – which it is not.
“FAO agreed to a technical meeting in a scientific conference among experts in 2018,” said Dayrit.
As the Philippines thrives in exporting virgin coconut oil and semi-processed coconut products in bulk, UCAP Chairman Dean A. Lao Jr. said it is pertinent for Philippines to also intensively invest in product research.