Destinations of Coconut Oil Export in AugustThursday, November 15, 2018
Export of coconut oil in August consisted of 51,734 MT crude coconut oil, 16,769 MT cochin (refined, bleached) oil, and 3,857 MT RBD (refined, bleached and deodorized) or fully refined oil. Combined value of the oils amounted to USD69.807 million. The US was this month’s top buyer of coconut oil with combined import of the three coconut oil types at 33,560 MT and representing 46.4% of total export. Europe closely followed with 31,181 MT for a market share of 43.1%. Completing the top three buyers was China with 5,701 MT (7.9% share).
Europe remained a primary market for crude coconut oil with purchases of 30,501 MT (Netherlands 24,001, Spain 6,500), trailed by the US with 20,000 MT, China 954 MT, Malaysia 163 MT, Pakistan 117 MT. The US was market leader in cochin oil with uptake at 12,627 MT, followed by China 3,345 MT, Japan 622 MT, Bangladesh 123 MT, New Zealand 44 MT, Hong Kong 9 MT.
China was principal importer of RBD oil with delivery of 1,402 MT, followed by the US with 933 MT, Europe 680 MT (Netherlands 313, Germany 268, Poland 42, Greece 24, Hungary 21, Italy 12), Iran 152 MT, Taiwan 102 MT, Mexico 91 MT, Canada 82 MT, Malaysia 71 MT, Bangladesh 69 MT, Japan 61 MT, Argentina 47 MT, Colombia 42 MT, Australia 35 MT, South Africa 25 MT, Singapore 21 MT, Sri Lanka 21 MT, Vietnam 17 MT, South Korea 5 MT.