Destinations of Coconut Oil Export in JuneThursday, September 27, 2018
Export of coconut oil in June consisted of 63,115 MT crude coconut oil, 29,926 MT cochin (refined, bleached) oil, and 6,441 MT RBD (refined, bleached and deodorized) oil with combined value of USD110.048 million. The US was this month’s top importer of coconut oil responsible for nearly half (49.2%) of total trade with uptake at 48,964 MT of the three types of coconut oil combined. Europe followed closely with 44,810 MT (45.0%) and China was a far third with 2,066 MT (2.1%) and then Japan with 2,002 MT (2.0%).
Europe, however, remained a primary destination for crude coconut oil cornering 44,536 MT (Netherlands 37,536, Spain 7,000), trailed by the US 16,093 MT, Japan 1,904 MT, Argentina 233 MT, Malaysia 156 MT, Taiwan 106 MT, Bangladesh 69 MT, Canada 19 MT. The US was almost an exclusive market for cochin oil with purchases of 29,367 MT. Other destinations were Sri Lanka 374 MT, Vietnam 107 MT, Australia 21 MT, Europe 21 MT (Germany), Canada 17 MT, Pakistan 16 MT.
Likewise, the US was major outlet for RBD coconut oil with 3,504 MT, followed by China with 2,066 MT. Other buyers took in limited volume: Europe 253 MT (Netherlands), Argentina 206 MT, Japan 98 MT, South Korea 82 MT, Taiwan 49 MT, New Zealand 49 MT, Vietnam 34 MT, Sri Lanka 21 MT, South Africa 19 MT, Canada 9 MT, Hong Kong 9 MT, Singapore 2 MT.