Destinations of Coconut Oil Export in FebruaryThursday, May 13, 2021
Bulk of coconut oil export during the month was crude coconut oil at 40,633 MT, followed by RBD (refined, bleached and deodorized) coconut oil at 8,722 MT, and cochin (refined, bleached) coconut oil at 4,349 MT. The combined value of the three coconut oil exports during the month was USD73.452 million.
Indonesia was this month top destination of coconut oil exports at 20,210 MT, dislodging Europe which currently held the second place at 13,550 MT, for respective market shares of 37.6% and 25.2%. Following behind were the US with purchases of 5,708 MT (10.6%), Malaysia 4,691 MT (8.7%), China 4,012 MT (7.5%) and Japan 3,611 MT (6.7%).
Export to Indonesia was solely crude coconut oil. Second biggest importer of crude coconut oil this month was Europe at 12,501 MT (Netherlands 7,501, Spain 5,000), trailed by Malaysia at 4,600 MT, the US 3,000 MT and Thailand 322 MT. On the other hand, Japan was principal buyer of cochin oil at 3,578 MT. Other destinations were the US at 727 MT, Canada 24 MT, and Brazil 20 MT.
RBD coconut oil was shipped to 17 various countries, most of which had ordered RBD oil only. China led the pack with 4,012 MT or nearly half of RBD oil lifting, trailed by US with 1,981 MT, Europe 1,049 MT (Netherlands 742, Belgium 262, Poland 44), Sri Lanka 690 MT, Pakistan 159 MT, Ecuador 139 MT, Singapore 126 MT, Argentina 115 MT. Countries with uptake below 100 MT included Malaysia 91 MT, Canada 86 MT, Taiwan 83 MT, Bangladesh 69 MT, Australia 36 MT, Japan 33 MT, Turkey 21 MT, Brazil 17 MT, Vietnam 16 MT.