Destinations of Coconut Oil Export in July

Export of coconut oil in July was a mix of 63,702 MT crude coconut oil, 3,328 MT cochin (refined, bleached) oil, and 11,411 MT RBD (refined, bleached, and deodorized) oil, the combined value of which was USD121.730 million.

Traditional markets Europe and the US continued to take bulk of shipment, jointly accounting for 71.3% of total coconut oil mix, thereof Europe was 46.4% or 36,427 MT.  The US held 19,537 MT (24.9%).  Outside of these markets, Malaysia led the pack at 7,022 MT (9.0%), trailed by South Korea at 4,070 MT (5.2%), Indonesia 4,000 MT (5.1%), China 3,765 MT (4.8%), Japan 2,241 MT (2.9%), and 15 others with market shares below 1%.

Export to Europe was largely crude coconut oil at 35,800 MT (Netherlands 23,000, Italy 7,100, Spain 4,700, Greece 1,000).  Other buyers of crude coconut oil were the US at 17,500 MT, Malaysia 6,401 MT, and Indonesia 4,000 MT.  On the other hand, there were only two destinations of cochin oil shipments: Japan at 2,160 MT and the US at 1,168 MT.

RBD coconut oil counted the greatest number of outlets.  For the month of July, there were 21 and most of them (excepting four) imported only RBD oil.  South Korea and China were market leaders with respective uptake at 4,070 MT and 3,765 MT.  Trailing behind were the US at 868 MT, Europe 626 MT (Netherlands 490, Belgium 72, Poland 44, Germany 19), Malaysia 621 MT, Sri Lanka 566 MT, Taiwan 131 MT, Canada 103 MT, and a dozen others which bought between 19 MT and 81 MT.  The latter group included Japan, Turkey, Bangladesh, Ecuador, Mexico, Vietnam, Australia, Singapore, Argentina, New Zealand, Pakistan, Georgia.