Destinations of Coconut Oil Export in JuneThursday, September 29, 2022
Export of coconut oil in June comprised of 59,201 MT crude coconut oil, 4,050 MT cochin (refined, bleached) oil, and 23,919 MT of RBD (refined, bleached and deodorized or fully refined) oil. The combined turnover of the export mix was USD1,213,240,261.
Europe remained the leading export destination during the month with uptake at 26,150 MT accounting for 30% of the export mix. Malaysia followed with 17,160 MT (19.7%), the United States with 13,899 MT (15.9%), China 12,963 MT (14.9%), Indonesia 8,000 MT (9.2%), Japan 4,268 MT (4.9%), and South Korea 4,009 MT which made up the top seven markets.
Europe was market leader in crude coconut oil responsible for 25,701 MT (Netherlands 21,701, Spain 4,000), trailed by Malaysia at 13,001 MT, US 12,500 MT, and Indonesia 8,000 MT. Cochin oil export during the month all went to Japan at 4,050 MT.
On the other hand, there were 18 importers of RBD coconut oil during the month but most of them (14) purchased only RBD coconut oil and none of the other oil types. Leading the pack was China at 12,963 MT, followed by Malaysia at 4,159 MT, South Korea at 4,009 MT, the US at 1,399 MT which made up the top four. Other markets were Europe 449 MT (Netherlands 366, Belgium 71, Croatia 13), Taiwan 303 MT, Japan 218 MT, Canada 76 MT, South Africa 64 MT and nine others whose uptake ranged 7-45 MT. The latter group included Pakistan, Brazil, Australia, Argentina, Singapore, Ecuador, Vietnam, Hong Kong, New Zealand.