Kochi: Health freaks may please take note: export of virgin coconut oil from India has registered an unprecedented growth of 589 per cent in quantity and 586 per cent in value in the first quarter of the financial year 2015-16 compared to the corresponding period of the previous year.
And the consumers are in the most regulated markets of the world: United States, Japan and United Kingdom, according to the data compiled by the Coconut Development Board (CDB).
Virgin coconut oil is produced through a cold extraction process, which helps it retain a number of micronutrients with therapeutic value.
The product fetches a premium price ranging between $5 to $10 per kg depending on the country of import.
The total export for 2014-15 was 816 tonnes where as it has clocked 365 tonne in the first quarter itself.
“This is against 53 tonne in the first quarter of last financial year,” Mr K S Sebastian, assistant director (export promotion, Coconut Development Board, said.
“We understand that most of export is used for edible purposes. Of late, the western media, especially those in the US, have been carrying a series of reports on the health benefits of virgin coconut oil, especially in the fight against Alzheimer’s disease.”
It may be noticed that the segment has not still come under the radar of major FMCG companies in India.
“Most exporters from India are medium or small-scale producers,” Mr Sebastian said. “We expect the trend to continue this year, too,” said CDB chairman T K Jose.
“The development underscores the inherent value of coconut oil as well as the urgent need of Indian farmers to turn to value-added and premium products to command decent price for their products. It continues to be a buyers’ market, but such diversification helps them sustain themselves in difficult times, too,” he said.
