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Indonesia earns US $899.47 million from coconut exportsThursday, September 28, 2017 > 10:39:56
Indonesias coconut exports for this year until August have reached US$899.47 million, while it simultaneously imported the commodity worth US$8.65 million, according to the Agriculture Ministry.
"This means the country enjoyed a surplus of $890.82 million from the coconut trade, up 20.67 percent from $738.20 million during the same period last year," Suwandi, chief of the ministrys data center and information system, noted in an official statement released on Thursday.
Quoting data from the International Trade Center, Suwandi said according to the global trade map during the period between 2012 and 2016, Indonesia was the worlds largest coconut exporter after the Philippines, in terms of coconut oil and dried coconut.
However, in terms of unpeeled coconut, or its endocarp, Indonesia is the worlds largest exporter, contributing 59 percent of the total coconut exports, he revealed.
During the January-August 2017 period, Indonesias coconut exports were dominated by coconut oil, contributing 63 percent of the total value. Meanwhile, the exports of dried coconut and endcarp constituted 19.87 percent of the overall coconut exports.
The US remained the biggest market for Indonesias coconut exports, contributing 19.87 percent of the total value, followed by China at 16.10 percent, the Netherlands at 11.75 percent, Thailand at 10.16 percent, Malaysia at 9.7 percent, and South Korea at 7.26 percent.