The Philippines targets to become the top exporter of coconut products to China, next to other ASEAN countries like Indonesia, Thailand, Vietnam and Malaysia.

The 2020 China Coconut Oil Import Source Countries Statistics as reported by the Embassy of the Philippines in Beijing, the Philippines ranked second largest coconut supplier to China, cornering 27 percent of total market share in the country.

During this period, the Philippines exported about 43,700 metric tons (MT) of coconut products in the world’s second largest economy, which was valued at $62.85 million.

Aside from the Philippines, China imports majority of its coconut products from Indonesia, Thailand, Vietnam and Malaysia, which are the other four major countries that export coconuts to China.

“The Philippines could also become a dominant player in this area, as the country’s young green coconut export had already gained access to China in 2019, while still maintaining the staple coconut products the country exports such as: coconut water, coconut milk, coconut oil, virgin coconut oil, and coconut sugar,” the Philippine Coconut Authority (PCA) said.

China currently imports about 2.5 billion coconuts annually from Southeast Asia, largely as raw materials for processing. Demand of coconuts in China stands at 300 to 350 million coconuts per year, 90 percent of these are imported.

Meanwhile, coconut oil and crude coconut oil remain among top three products imported by the United States from the Philippines for three consecutive years, based on the latest Trade Statistics for International Business Development of the International Trade Centre (ITC).

According to the report, the Philippines supplies 60 percent of US imports of coconut oil and 73 percent of crude coconut oil.

The increase in demand for coconut products is largely based on the positive changes related to new US trade policies, market trends, as well as dietary guidelines relative to the coconut industry.

The growth of coconut consumption was also attributed to the removal of coconuts among food products that allegedly causing allergies among US consumers.