EUROPE’S amplified use of coconut oil for its health benefits has increased the demand for Philippine coconut oil, said Philippine Coconut Authority (PCA) official.
The data provided by the Philippine Statistics Authority (PSA) Davao Region reveals that there is a 1,110 percent increase in the export value of coconut (copra) crude oil equivalent to $94.81 million in the first quarter of 2017 from $7.83 million during the same period of 2016.
Top export markets for the commodity include Netherlands ($69.10 million), the United States (US) ($13.81 million), and Italy ($11.65 million).
According to PCA Board Member Roque Quimpan this dramatic increase was brought by the European’s increased demand for coconut oil to be used in their food due to its lauric acid component, which is believed to be good for the health.
Quimpan added more than half of the requirement of Europe for coconut oil is supplied by the Philippines.
“Countries in Europe have an aggressive shift of using coconut oil, not only in cooking but also used as spreads. Since 2016, Europe’s demand for coconut oil had increased due to the lauric acid component of coconut oil, which could not be found in any other oil products like palm oil and canola,” he said in vernacular.
Quimpan added that with this high demand, the region could barely keep up with the supply needed by Europe. Because of this, he said, PCA’s current policy direction is geared towards replanting and massive fertilization. They target to reach an average yield of 65 nuts per tree annually from an average of 47 nuts.
“Our national average yield per year is only at 47 nuts per tree but if we intensify our culture and proper fertilization, we target to increase yield from 47 nuts to 65 nuts per tree annually. Other nations like Thailand can produce up to 100 nuts per year with the help of fertilizers. But since their yield is smaller and less frequent, our 65 nuts can already equate with their 100 nuts yield,” Quimpan said.
He added most of the coconut plantation in the region measured only 5 hectares or less.
Owners usually do not invest much on the fertilization of the coconuts thinking that they would eventually just bear fruit anyway.
Quimpan said the usage of multi-nutrient fertilizers is essential for the coconuts’ growth and higher yield.
Aside from replanting and fertilization, he said their hybridization measures are still ongoing.
“We already have hybridization farms in Davao (189 hectares), North Cotabato (200 hectares), and Zamboanga (300 hectares). They are the major hybrid producers in the Philippines. We also have one in Albay and another in Quezon,” he said.
Through these hybridization farms, Quimpan said they target to produce bigger varieties with thicker coconut meat.
