MANILA –The Philippines expects revenues from coconut product exports to increase 10 to 20 percent over the next two years, as demand continues to grow worldwide.
Philippine Coconut Authority (PCA) Administrator Billy Andal cited coconut products with huge potential in more export markets, particularly coconut sugar, coconut syrup, coco fiber and even lotion and mouth freshener from coconut oil.
“(Our exports will grow) exponentially because for the demand alone for coco fiber, we are not even (meeting) 50 percent of the demand; coco sugar we are not even (meeting) 50 percent,” he said interview.
Andal said Europe remained the country’s biggest market for these coconut products.
He added the country was looking to penetrate new markets, such as Russia and China.
Total export sales receipts from coconut products reached USD 2 billion in 2016.
Andal is optimistic about sustaining this year coconut production in 2016 to meet export demand amid typhoon “Nina” that hit the country last December.
“In 2018, we can hit 20 percent (export revenue growth), this year by 10 percent… 2018 will be an opener for us considering we have a lot of money by then,” he further said.
The PCA expected an increase in coconut yield and higher exports in the next few years amid plan of a group of coconut farmer’s organizations to withdraw its petition before the Supreme Court that resulted in a temporary restraining order (TRO) on the utilization of Php75-billion coco levy funds.