Destinations of Coconut Oil Export in August

Export of coconut oil in August consisted of 73,791 MT crude coconut oil, 9,342 MT cochin (refined, bleached) coconut oil and 21,581 MT RBD (refined, bleached and deodorized or fully refined) coconut oil.  Europe remained a leading destination of coconut oil responsible for nearly half (48.8%) of the month’s lifting of the coconut oil mix or 51,149 MT.  Malaysia followed with 27,114 MT, dislodging the US which placed third with 11,935 MT.  Completing the six major outlets were China at 5,859 MT, South Korea at 4,077 MT, and Japan at 3,823 MT.  Together, these markets accounted for 99.3% of total external coconut oil trade during the month.

Europe remained top importer of crude coconut oil with uptake at 44,790 MT (Netherlands 35,290, Italy 7,000, Spain 2,500), trailed by Malaysia a 24,000 MT and the US at 5,000 MT.  On the other hand, the US led in cochin oil with purchases at 5,520 MT, tracked by Japan at 3,772 MT and South Korea at 50 MT.  

Number of buyers of RBD coconut oil exceeded that of crude coconut oil and cochin oil combined.  There were 14 RBD coconut oil buyers during the month topped by Europe at 6,359 MT (Latvia 4,000, Greece 2,000, Netherlands 275, Poland 44, Belgium 20, Bulgaria 19).  Next was China at 5,859 MT, trailed by South Korea 4,027 MT, Malaysia 3,114 MT, and the US at 1,414 MT.  The leading five RBD coconut oil importers jointly comprised 96.3% of total RBD oil sales.  The remaining nine destinations took in volume in the range 8-276 MT: Singapore, Taiwan, Canada, South Africa, Japan, Argentina, Brazil, Hong Kong, New Zealand.