Sri Lanka Virgin Coconut Oil Export Down in First Eight Months

Figures from Sri Lanka’s Coconut Development Authority show the country’s export of virgin coconut oil was down by 19.9% to 7,747 MT in January-August this year from 9,675 MT in a similar period year-ago.  Shipment value at USD40.254 million dropped by 15.7% from previous year at USD47.758 million. Average traded price at USD5,196.05/MT FOB rose 5.3% from prior year at USD4,936.25/MT.  For the month of August alone, total export was 1,074 MT, reducing by 25% prior year figure at 1,432 MT.  Revenue at USD5.128 million contracted 28.5% from last year at USD7.173 million.  

During the eight-month period, export markets totaled to 71 countries. Top buyer was the United States at 1,893 MT (24.4%), trailed by Australia at 1,335 MT (17.2%),  Germany 1,255 MT (16.2%).  The next 11 importers held volume ranging 102-422 MT and collectively accounted for 28.5%, namely United Kingdom 422 MT, Netherlands 355 MT, France 228 MT, Canada 227 MT, Austria 200 MT, Sweden 174 MT, Chile 165 MT, UAE/Dubai 117 MT, Portugal 110 MT, Israel 108 MT and Pakistan 102 MT. The remaining 57 countries which aggregately accounted for 13.6% took in volume ranging 1-92 MT.