Sri Lanka Virgin Coconut Oil Export Down in January-March

Thursday, August 16, 2018

Figures from Sri Lanka’s Coconut Development Authority also show the country’s export of virgin coconut oil was 2,805 MT during the first quarter of this year, down by 23.6% from 3,673 MT in a similar period year-ago. Shipment value at USD15.327 million dropped by 11.8% from the previous year at USD17.376 million. Average traded price computed at USD5,464.14/MT FOB topped by 115.5% prior year at USD4,730.79/MT. 

For the month of March alone, export was 1,114 MT.  This is 25.2% short of same month last year at 1,408 MT.  Value at USD6,004 million was behind by 16.3% from same period year-ago at USD7.173 million. Average price during the month was USD5,389.61/MT FOB, comparatively higher than prior year at USD4,817.76/MT.   

Export during the three-month period went to at least 50 countries. Top buyer was the United States at 671 MT (23.9%), trailed by Germany at 587 MT (20.9%), Australia at 423 MT (15.0%) and United Kingdom at 134 MT (4.8%).  The remaining 46 countries which aggregately accounted for 35.3% took in volume ranging 1-96 MT. 

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