Source: APCC Cocommunity Newsletter
Based on UCAP preliminary data, of the total coconut oil export in April of 128,510MT, nearly one half (48.8%) or 62,710MT was delivered to the European market while the United States was responsible for more than a third (35.1%) or 45,080MT. China’s uptake at 15,920MT (12.4% share) landed the country in the third spot. Other markets were Malaysia with 2,550MT and Japan with 2,250 MT for respective market share of 2.0% and 1.8%.
In copra meal, China took over market leadership in April as it jumped past consistent top two importers Korea and Vietnam. Of total shipment during the month of 54,808MT, China handled more than one-third (38.5%) or 21,095 MT. Korean purchases at 18,370 MT represented a third (33.5%) and delivery to Vietnam at 12,343 MT comprised nearly a quarter (22.5%). Considered as newest copra meal buyer, India took in 3,000 MT to account for 5.5% of total trade. (UCAP Bulletin).
Partly Cloudy 27 oC