Destinations of Coconut Oil Export in FebruaryThursday, May 24, 2018
Export of coconut oil in February consisted largely of cochin (refined, bleach) oil at 22,237 MT, besting consistent leader crude coconut oil at 11,484 MT, and RBD (refined, bleached, deodorized) oil at 2,022 MT. Total revenue from the three commodities amounted to USD52.139 million. The US was primary buyer of coconut oil during the month with combined volume of the three types of oil at 27,917 MT (78.1%). The European market took in 6,570 MT (18.4%) and China 1,007 MT (3.4%). Others had market shares of less than 1%.
However, Europe was still leading destination of crude coconut oil at 6,417 MT (Spain 6,000, Netherlands 417), while the US held 5,067 MT. On the other hand, the US was almost an exclusive market for cochin oil with uptake at 21,901 MT. Other markets were Sri Lanka 165 MT, China 162 MT and Hong Kong 9 MT. The US was also major buyer of RBD oil responsible for 949 MT, followed by China at 844 MT, Europe 153 MT (Netherlands 117, Germany 21, Italy 16), Canada 48 MT, Australia 18 MT, Chile 9 MT.