Virgin coconut oil exports are continually swelling as demand
has shot up following manufacturers' adoption of production
standards, according to an industry group.
The United Coconut Associations of the Philippines said
that in the fist half of 2005 alone, 340 metric tons of VCNO
were shipped to foreign markets. The figure was 92 percent
higher than the 177 MT exported for the whole of 2004. Forecast
for 2005 show that at least 500 MT will be sold to markets
abroad.
The United States took in 331 MT or about 97 percent of
the export market. In 2004, the US imported about 170 MT
or 96 percent of total shipments last year.
Other markets bought limited quantities, including Singapore,
Ireland, South Korea, Saudi Arabia, Australia, Malaysia,
Hong Kong and Germany.
According to the Virgin Coconut Oil Producers and Traders
Association of the Philippines (VCNO Philippines), world
demand was surging as more countries turn to the product
as an alternative food supplement.
VCNO Philippines data showed that in 2003, the group exported
an estimated 200 MT or double the 100 MT it shipped out in
2002.
The trend was observed as the industry adopted a national
standard in making VCNO as laid out through the Philippine
Coconut Authority's Administrative Order No. 01, Series 2005,
or the Implementing Rules and Regulations to Enforce Standards
in the Production and Marketing of Virgin Coconut Oil.
The standards were registered with the Philippine National
Standards and were the result of "extensive and exhaustive" consultations
made nationwide with the help of the Department of Trade
and Industry's Bureau of Products Standards, the Department
of Health's Bureau of Food and Drugs, the Department of Agriculture's
Bureau of Agricultural and Fisheries Products Standards,
members of the VCNO Philippines, and independent producers.
VCNO is being marketed as a food supplement an is said to
provide health benefits like protection from viruses, fungi
and bacteria because of its monolaurine content, a major
component of mother's milk that enhances the immune system
of infants.