Sri Lanka Virgin Coconut Oil Export Down in January-October 2018Thursday, January 17, 2019
Figures from Sri Lanka’s Coconut Development Authority also showed the country’s export of virgin coconut oil was down by 15.3% to 10,207 MT in January-October 2018 from 12,057 MT in a similar period year-ago. Shipment value at USD51.120 million dropped by 14.8% from previous year at USD60.011 million. Average traded price at USD5,008.36/MT FOB was shade higher by USD31.13/MT from prior year at USD4,977.23/MT.
For the month of October alone, total export was 1,374 MT, reducing by 18.9% prior year figure at 1,156 MT. Revenue at USD5.700 million fell 4.8% from last year at USD5.990 million. Average price dropped sharply by 19.9% to USD4,149.12/MT FOB from USD5,182/MT previously.
During the 10-month period, export markets accumulated to 79 countries. Top buyer was the United States at 2,759 MT (27.0% market share), trailed by Australia at 1,752 MT (17.2%), Germany 1,424 MT (14.0%). The next 12 importers held volume ranging 101-596 MT and collectively accounted for 27.3%, namely United Kingdom 596 MT, Netherlands 391 MT, Canada 368 MT, France 297 MT, Sweden 211 MT, Chile 173 MT, Israel 146 MT, Pakistan 141 MT, UAE/Dubai 135 MT, Portugal 115 MT, China 109 MT and Taiwan 101 MT. The remaining 64 countries which aggregately accounted for 14.6% took in volume ranging 1-96 MT.