Destinations of Coconut Oil Export in December

Export of coconut oil comprised largely of crude coconut oil at 102,305 MT, followed by RBD (refined, bleached and deodorized or fully refined oil) at 56,340 MT, and cochin (refined, bleached) oil at 5,590 MT. The combined revenue from the coconut oil export mix topped the USD2.000 billion barrier at USD2.052 billion or nearly double last year at USD1.072 billion (+91.5%).

Europe was still the primary destination responsible for 86,572 MT or 52.7% of the total coconut oil export mix.  Malaysia followed at 27,191 MT (16.6%), next were Indonesia at 19,000 MT (11.6%), US at 16,752 MT (10.2%).  Smaller volumes went to China at 5,952 MT (3.6%), Japan 3,894 MT (2.4%), Sri Lanka at 2,307 MT (1.4%), and South Korea at 1,657 MT (1.0%). The rest took in much lower quantities jointly representing 0.6%.

Europe was leading market for crude coconut oil. In December, shipment totaled 72,853 MT (Netherlands 53,002; Spain 10,500 MT; Italy 9,250; Sweden 101).  Indonesia was second biggest importer during the month at 19,000 MT, followed by Malaysia at 6,126 MT, the US 4,000 MT, Thailand 204 MT and Mexico 122 MT.  On the other hand, Japan was biggest outlet for cochin oil at 3,840 MT.  The only other market was the US at 1,750 MT.

RBD coconut oil went to 15 various destinations led by Malaysia this month at 21,065 MT, trailed by Europe at 13,719 MT (Netherlands 4,320; Latvia 4,000; Turkey 2,905; Greece 2,000; Belgium 260; and Germany, Romania, United Kingdom, Bulgaria, Spain, and Slovenia with orders ranging 20-87 MT).  The US was third major market at 11,002 MT, tracked by China at 5,952 MT, Sri Lanka at 2,307 MT, South Korea at 1,657 MT, Taiwan at 138 MT, Bangladesh 137 MT, Canada at 123 MT.  Smaller orders ranging 8-88 MT went to Iraq, Japan, Brazil, Singapore, South Africa, New Zealand.