The Philippines’ coconut oil export earnings are set to surpass last year’s record $2.22 billion due to rising global demand and tight supply of vegetable oils, the Philippine Coconut Authority (PCA) reported.
Despite coconut oil comprising only 2-3% of the global vegetable oil market, its price is influenced by other oils like palm and soybean, with May prices reaching a record $2,742 per metric ton.
In the first four months of 2025, exports grew nearly 63% year-on-year to $973 million.
Meanwhile, the domestic coconut industry faces challenges from a coconut scale insect (CSI) infestation affecting over 500,000 trees, but PCA assured the situation is manageable compared to previous outbreaks.
The agency has allocated P94 million to pest control efforts and will provide indemnification to insured farmers affected by the infestation.
Source: PhilNews24 | June 13, 2025
COCO OIL EXPORTS SET TO REACH ALL-TIME HIGH IN REVENUE
Latest from Business
Davao City has welcomed its first all-electric taxi service as Vietnamese company Green GSM launched its
The Department of Agriculture (DA) has approved the importation of live hogs, pork, and by-products from
The Philippines’ garment exports are projected to reach $1 billion this year, an 11-percent increase from
Shopee celebrates its 10th anniversary with the release of its first impact report, Shopee: A Decade
The Energy Regulatory Commission (ERC) is set to decide on the recovery of around ₱34.5 billion