Coconut oil topped Mindanao exports in 2006 – MEDCO

Crude and refined coconut oil was Mindanao’s top export in 2006, according to the Mindanao Economic
Development Council (MEDCO) in an overview of the island’s economy released to the media this week.

Coconut oil export accounted for 21 percent or $P319 million of Mindanao’s
total export value at US$ 1.5 billion, as of 2006 3rd quarter.

About 80 percent of local coconut production goes to the export market and the remaining 20 percent to the domestic market, the Department of Agriculture said.

Forty-eight percent the country’s coconut is planted in Mindanao, which yields 56 percent (8.1 million tons) of the country’s production.

Coconut oil, copra, copra meal and desiccated coconut are the Philippines’  
traditional coconut product exports. The country also exports 39 other non-traditional coconut product and by-products.

Coconut oil accounts for 85 to 95 percent of the total coconut exports by volume and 80 percent by value.

Fresh banana came next with 20 percent at $298 million, which is 21 percent higher than its 2005 performance of $246 million.

About mindanaw

A Journalist from Mindanao

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