Sri Lanka Virgin Coconut Oil Export Down in First Eight Months

Thursday, November 15, 2018

Figures from Sri Lanka’s Coconut Development Authority show the country’s export of virgin coconut oil was down by 19.9% to 7,747 MT in January-August this year from 9,675 MT in a similar period year-ago.  Shipment value at USD40.254 million dropped by 15.7% from previous year at USD47.758 million. Average traded price at USD5,196.05/MT FOB rose 5.3% from prior year at USD4,936.25/MT.  For the month of August alone, total export was 1,074 MT, reducing by 25% prior year figure at 1,432 MT.  Revenue at USD5.128 million contracted 28.5% from last year at USD7.173 million.  

During the eight-month period, export markets totaled to 71 countries. Top buyer was the United States at 1,893 MT (24.4%), trailed by Australia at 1,335 MT (17.2%),  Germany 1,255 MT (16.2%).  The next 11 importers held volume ranging 102-422 MT and collectively accounted for 28.5%, namely United Kingdom 422 MT, Netherlands 355 MT, France 228 MT, Canada 227 MT, Austria 200 MT, Sweden 174 MT, Chile 165 MT, UAE/Dubai 117 MT, Portugal 110 MT, Israel 108 MT and Pakistan 102 MT. The remaining 57 countries which aggregately accounted for 13.6% took in volume ranging 1-92 MT.  

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