Indonesia: Significant increase in CIF Price of RBD coconut oil to Georgia

Due to the high price of containers to the Eastern European region, the CIF price reference of RBD Coconut Oil to port Poti in Georgia has experienced a significant increase this week. The price has been reported to be at USD 2145/MT, up from its highest average price in December 2020 at USD 1900/MT. Some exporters argued that this sharp hike is primarily caused by the cost of shipping to Georgia that has doubled this month as getting the available shipment date to Europe is rather difficult.