MANILA - Philippine coconut oil exports dropped 8% in August from a year earlier, easing after a sharp rebound in the previous month, data from an industry group showed on Wednesday.

The Philippine Coconut Authority said the country's coconut oil exports reached 35,700 tons in August, slightly lower than the 38,823 tons recorded in the same month last year.

The latest figure brought the country's total coconut oil exports to 435,807 tons for the first 8 months of the year. In the same period in 2008, coconut oil exports reached 607,140 tons.

The Philippines, the world's biggest exporter of the commodity, expects exports to dip to 835,000 tons this year from 847,626 tons in 2008, on softer global demand as well as its increasing use as feedstock by local biodiesel producers.

The Philippines exports 80% of its coconut oil output but accounts for less than 5% of the global fats and oils market due to a drop in local production in recent years and the rising popularity of other vegetable oils, such as palm.