Filipinos import more PNG copra

 THE Philippines continue to be Papua New Guinea’s major buyer of copra, according to Kokonas Indastri Koporesen (KIK).

In its last January-March report, KIK stated that Philippines bought 74 per cent, which represented 10,459 tonnes.

Industry affairs manager Alan Aku said Philippines continued to be the major buyer of the product due to several reasons;

• Philippines domestic production cannot fully cater for internal and external demands;
• the immense industrial needs from the manufacturers especially the oleo chemical industries in Philippines were constantly inflating; and,
• Effects of Typhoon Haiyan.

Other countries that imported copra from PNG include; Singapore 19 per cent (2635 tonnes), Australia 4 per cent (583 tonnes) and Bangladesh 4 per cent (429 tonnes).

Aku said it was anticipated that Philippines would continue to be the major buyer as propositions were underway to increase the current biodiesel blending from 2.5 per cent to 5 per cent.

Meanwhile, copra export in January was about 1600 tonnes which significantly increased in February by 420 per cent to 8,436 tonnes but declined by 52 per cent to 4,047 tonnes the following month.

During the quarter, the country exported a total of 14,106 tonnes of copra which was described as a significant increase of 128 per cent compared to total export volume of previous quarter.

Aku said: “The significant increase in copra exports depicted positive response of price sensitive farmers as influenced by positive price trend experienced during the quarter due to factors such as low copra supply in global market and investment developments in domestic market.”

Meanwhile, during that period as well, 14,106 tonnes of copra export were undertaken by six exporters namely, Sankamap (8 per cent), ENB Development Corporation (11 per cent), Coconut Products Ltd (CPL) (34 per cent), Pacific Lama (19 per cent), Kimbe Bay Shipping Agency (KBSA) (21 per cent) and Samarai Murua Exports Ltd (7 per cent).