Philippine coconut oil exports in February are likely to rise 6.5 percent to 84,850 tonnes, compared with the 79,638 tonnes exported in the same month last year, a trade official said on Thursday.
The Philippines is the world's largest exporter of coconut oil, accounting for at least 60 percent of world trade. The biggest buyers are the United States and Europe.
The February exports would bring to 159,950 tonnes the preliminary shipments in the first two months of the year, slightly down from the 162,499 tonnes shipped in the same period last year, the official from the United Coconut Associations of the Philippines Inc said.
The official, who did not want to be identified, said the February export estimate was based on the shipping schedules of exporters.