Destinations of Coconut Oil Exports in May

Exports of coconut oil in May still consisted largely of crude coconut oil at 58,149 MT, followed by RBD (refined, bleached and deodorized or fully refined) oil at 15,785 MT, and cochin (refined, bleached) oil at 1,938 MT.  The export mix was valued USD177.539 million, increasing by 17.4% from last year’s USD151.198 million.

The top eight leading destinations during the month had a combined market share of 94.6% of the export mix.  Leading the pack was Europe at 43,192 MT (56.9%), followed by the USA at 8,394 MT (11.1%), Malaysia 6,340 MT (8.4%), South Korea 5,500 MT (7.2%), Turkey 5,000 MT (6.6%), China 3,776 MT (5.0%), Japan 1,999 MT (2.6%), and Sri Lanka 1,333 MT (1.8%).  

Shipment to Europe was mainly crude coconut oil at 41,823 MT (Spain 20,398, Italy 12,000, Netherlands 8,000, Greece 1,425). Malaysia was second major importer at 6,340 MT, closely trailed by the USA at 6,373 MT, then Turkey at 2,500 MT, and Sri Lanka at 1,112 MT. On the other hand, Japan was the sole destination of cochin oil during the month at 1,938 MT.

South Korea was principal destination of RBD Coconut Oil at 5,500 MT, tracked by China at 3,776 MT, Turkey at 2,500 MT, USA at 2,022 MT, Europe at 1,369 MT (Netherlands 798, Germany 275, Croatia 177, Slovenia 79, Italy 20, Belgium 20). Other destinations were Sri Lanka at 221 MT, Taiwan 114 MT, and seven others which ordered volume in the range 15-61 MT.  The latter group consisted of Japan, Vietnam, South Africa, Indonesia, Brazil, Canada, Australia.