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Combined VCO Export by the Philippines and Sri Lanka Down in 2018

Thursday, April 4, 2019

According to collated country data from the Philippines Statistics Authority and Sri Lanka’s Coconut Development Authority, the combined export of virgin coconut oil in calendar year 2018 of the Philippines and Sri Lanka declined by 9.3% to 36,903 MT from 40,676 MT in the same period a year earlier. 
  
Both countries posted decline in volume traded during the year.  Export from the Philippines at 24,897 MT dropped by 7.3% from prior year at 26,860 MT, while delivery from Sri Lanka at 12,006 MT recorded a shortfall of 13.1% from 13,816 MT.  In terms of market share, the Philippines was responsible for 67.5% and Sri Lanka 32.5%. 
   Both countries’ top buyer was the US with the Philippines shipping 12,182 MT and Sri Lanka 3,267 MT to that destination.  Germany was second biggest importer of the Philippines with uptake at 3,417 MT and Canada was third at 1,701 MT.  On the other hand, Sri Lanka’s second and third major buyers were Australia with 1,983 MT and Germany with 1,793 MT, respectively.  However, Sri Lanka covered more country markets across the globe numbering 79 while the Philippines counted 32. 

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