Destinations of Coconut Oil Export in October 2018Thursday, January 17, 2019
Export of coconut oil in October consisted to 52,458 MT crude coconut oil, 23,926 MT cochin (refined, bleached) oil, and 4,271 MT RBD (refined, bleached, deodorized) oil, the combined value of which was USD75.109 million. The US was top destination during the month with combined volume of the three coconut oil types at 37,411 MT representing 46.4% of aggregate export. Europe was second with uptake at 26,969 MT (33.4% share), trailed by Malaysia at 6,068 MT (7.5%), China 4,564 MT (5.7%), and Japan 4,272 MT (5.3%).
Europe remained leading importer of crude coconut oil with purchases at 26,458 MT (Spain 14,000, Netherlands 12,458), followed by the US at 20,000 MT and Malaysia at 6,000 MT. However, the US was primary buyer of cochin oil at 16,613 MT, tracked by Japan 4,256 MT, China 2,900 MT, Europe 118 MT (Netherlands), New Zealand 22 MT and Australia 17 MT.
China was principal destination for RBD oil at 1,664 MT, followed by the US at 798 MT, Europe 392 MT (Netherlands 311, Poland 41, Belgium 41), Saudi Arabia 344 MT, Argentina 232 MT, Pakistan 198 MT, Iran 194 MT, Taiwan 169 MT, Vietnam 70 MT, Malaysia 68 MT, Canada 64 MT, and seven others with uptake ranging 1-20 MT. The latter group comprised of Hong Kong, South Africa, Ecuador, Japan, Singapore, Australia and Thailand.