Destinations of Coconut Oil Export in November 2024

Export of coconut oil in November consisted of 65,535 MT crude coconut oil, 15,000 MT cochin (refined, bleached) oil, and 47,300 MT RBD (refined, bleached and deodorized or fully refined) oil. The combined value of the coconut oil export mix was USD200.673 million (+198.3% from the previous year).

Europe remained a leading destination of coconut oil export, cornering 33.8% of the export mix in November or 43,149 MT (30,502 Netherlands, 12,399 Italy, 102 Slovenia, 88 Bulgaria, 20 Denmark, and 19 apiece for Germany and Ireland).  The USA was second in rank at 30,393 MT (23.8%), trailed by Indonesia at 16,200 MT (12.7%), Malaysia at 14,337 MT (11.2%), South Korea at 7,050 MT (5.5%), China at 5,606 MT (4.4%), Sri Lanka at 3,750 MT (2.9%), Turkey at 3,690 MT (2.9%), and Japan which completes the top nine outlets at 2,400 MT (1.9%).  Others took in much lesser volume which were mainly RBD coconut oil.

Europe continued to lead in crude coconut oil trade with purchases of 42,280 MT (29,900 Netherlands, 12,380 Italy), followed by Indonesia at 12,000 MT, Malaysia at 6,051 MT, USA at 4,000 MT, Japan at 900 MT and Thailand at 304 MT.  On the other hand, Malaysia was top buyer of cochin oil during the month at 5,300 MT, tracked by Indonesia at 4,200 MT, USA at 4,000 MT, and Japan at 1,500 MT.

The market for RBD coconut oil was diverse, led by the USA at 22,393 MT, trailed by South Korea at 7,050 MT, China at 5,606 MT, Sri Lanka at 3,750 MT, Turkey at 3,690 MT, and Malaysia at 2,986 MT.  Smaller loads went to Europe at 869 MT (Netherlands 601, Slovenia 102, Bulgaria 88, Denmark 20, and Italy, Germany, Ireland at 19 MT apiece), Canada at 172 MT, Australia and Mexico at 158 MT apiece, Taiwan at 104 MT, Bangladesh at 69 MT, South Africa at 66 MT, Iraq at 44 MT, Brazil and Singapore at 43 MT apiece, New Zealand at 34 MT, Pakistan and Vietnam at 22 MT apiece, and Argentina at 20 MT.