Sri Lanka VCO Export Down in First Seven Months of this Year

Figures from Sri Lanka’s Coconut Development Authority show the country’s export of virgin coconut oil in January-July this year was 6,673 MT, a reduction by 19.0%  from 8,243 MT in a similar period year-ago. Shipment value at USD35.125 million FOB also dropped by 13.4% from the previous year at USD40.585 million.  Average traded price computed at USD4,263.80/MT FOB topped by 8.7% prior year at USD3,923.57/MT.  

For the month of July alone, export at 1,061 MT was 29% behind from same month last year at 1,495 MT.  Revenue at USD5.589 million FOB likewise dropped by 28.3% from same month last year at USD7.793 million. 
 
Export during the seven-month period to July went to at least 71 countries. Top buyer was the United States at 1,585 MT (23.8% of total), trailed by Australia at 1,158 MT (17.4%) and Germany at 1,067 MT (16.0%). The next eight importers held volumes ranging 106-369 MT and collectively accounted for 25.3%, namely United Kingdom 369 MT, Netherlands 342 MT, France 211 MT, Canada 182 MT, Sweden 161,  Austria 160 MT, Chile 157 MT and U.A.E/Dubai 106 MT.  The remaining 61 countries which aggregately accounted for 17.6%  took in volume ranging 1-96 MT.