US Import of Lauric Oils Up Sharply in October 2022

Data from Oil World show the US imported 95,300 MT of lauric oils in October 2022, rising sharply by 55.2% from 61,400 MT in the same month year-earlier.  A good portion of this total was palm kernel oil at 51,500 MT (54.0%) while coconut oil at 43,800 MT accounted for a lower share of 46.0%.  Both lauric oils increased shipment during the month with coconut oil posting 64.7% growth over prior year at 26,600 MT and palm kernel oil 48.0% from 34,800 MT.
Indonesia was leading supplier of lauric oils to the US responsible for 60.7% or 57,800 MT (39,500 MT year-earlier) which comprised largely of palm kernel oil at 43,100 MT (32,000 MT) and fewer of coconut oil at 14,700 MT (7,500 MT).  Shipment from the Philippines was solely coconut oil at 27,700 MT (15,300 MT) and accounted for 29.1% of lauric oil imports.  Malaysia supplied 6,400 MT (5,300 MT) made up of palm kernel oil at 6,300 MT (2,400 MT) and lesser of coconut oil at 100 MT (2,900 MT) which represented 6.7% of total imports. Supply from other sources amounted to 3,400 MT (1,300 MT) of which coconut oil was 1,300 MT (900 MT) and palm kernel oil was 2,100 MT (400 MT).
Total import for the 10-month period to October accumulated to 737,600 MT, increasing by 8.3% from 680,800 MT at the same time in the preceding year.  Coconut oil at 452,100 MT increased 22.9% from 367,900 MT.  Of this total, 255,400 MT (232,800 MT) or 56.5% came from the Philippines.  Palm kernel oil at 285,500 MT dropped 8.8% from 312,900 MT.  Indonesia was main source of the commodity supplying 250,900 MT (266,500 MT) or 87.7%.