Destinations of Coconut Oil Exports in January

Exports of coconut oil consisted largely of crude coconut oil with total this month at 59,215 MT, followed by RBD (refined, bleached and deodorized or fully refined) oil at 23,430 MT, and cochin (refined, bleached) oil at 6,845 MT.  The combined earnings of the coconut oil export mix amounted to USD193.761 million, to record a shortfall of 18.5% from USD237.787 million previously. 

Europe remained the leading destination of coconut oil exports and accounted for 54.2% of the export mix or 48,501 MT, trailed by the USA at 20,238 MT (22.6% share), China at 10,393 MT (11.6%), Indonesia at 3,345 MT (3.7%), Japan at 2,633 MT (2.9%), and South Korea at 2,500 MT (2.8%).  Together they represent 97.9% of total trade.

Crude coconut oil exports went mainly to Europe at 47,751 MT (45,251 Netherlands, 2,500 Spain). Second biggest market was the USA at 7,407 MT, followed by Indonesia at 3,345 MT, Malaysia at 454 MT, Thailand at 257 MT and a residual 1 MT to Marshall Islands. Cochin oil shipments went to only two destinations: the USA at 5,015 MT and Japan at 1,830 MT.

On the other hand, RBD coconut oil counted 17 outlets in January.  Except for the USA, Europe, Japan, and Malaysia, imports were exclusively RBD coconut oil.  Leading the pack was China at 10,393 MT, trailed by the USA at 7,815 MT, South Korea at 2,500 MT. The next set of big importers were Japan at 803 MT, EU at 750 MT, Canada at 405 MT, Sri Lanka at 201 MT, Taiwan at 156 MT and New Zealand at 104 MT.  The rest had smaller orders ranging 8-80 MT namely Malaysia, Pakistan, Libya, Australia, Brazil, Bangladesh, Hong Kong, Singapore.