US Import of Lauric Oils Down in May

Data from Oil World show the US imported 57,900 MT of lauric oils in May this year, down by 20.7% from same period year-ago at 73,000 MT. Of this total, coconut oil accounted for 63% or 36,500 MT (45,300 MT year-ago) while palm kernel oil contributed 37% or 21,400 MT (27,700 MT).  Import of coconut oil during the month declined by 19.4% from same period year-ago and that of palm kernel oil also dropped by 22.7%.

Indonesia remained the country’s major source of lauric oil during the month contributing 52.2% with delivery of 30,200 MT (33,700 MT) which consisted of 15,700 MT (26,400 MT) of palm kernel oil and 14,500 MT (7,300 MT) of coconut oil. The Philippines contributed 32.0% or 18,500 MT (36,600 MT) of coconut oil only. Malaysia was responsible for 14.2% with total amounting to 8,200 MT (1,400 MT) of which 2,600 MT (200 MT) was coconut oil and 5,600 MT (1,200 MT) was palm kernel oil. Supply from other countries was 1,000 MT (1,200 MT) of which 900 MT (1,200 MT) was coconut oil and 100 MT (nil) of palm kernel oil.

Total imports in January-May stood at 360,900 MT, an increase by 10.9% from 325,500 MT at the same time last year. Coconut oil was 211,300 MT (180,800 MT) and was mostly (70%) supplied by the Philippines at 147,800 MT (117,800 MT). Palm kernel oil was 149,600 MT (144,700 MT) and bulk of which at 115,200 MT (112,900 MT) representing 77.0% came from Indonesia.