Exports of coconut products are expected to grow by double digits this year as the industry rides on recovering demand abroad in the wake of the global economic slump, a government official said yesterday.

Specifically, such exports are expected to reach 1.77 million metric tons this year, 17% more than the 1.51 million MT shipped out in 2009, Arturo J. Liquete, Philippine Coconut Authority (PCA) deputy administrator for market research, said during a press briefing marking the 24th National Coconut Week.

"Exports of coconut products, such as copra, coco oil, and desiccated coconut, for 2010 are expected to reach 1.77 million MT," Mr. Liquete said.

Mr. Liquete attributed this projection to what he said was a rising demand abroad for coconut products, especially coconut oil.

Exports more than doubled to 1.23 million MT in the first half from 539,887.17 MT in the same period last year. Value of exports also doubled to $728.74 million from $349 million in the same periods. Read more...

By K. A. Martin (www.bworldonline.com)