U.S. - Refined Coconut (Copra) Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingRefined Coconut Oil Price in the United States - 2023
Contents:
- Refined Coconut Oil Price in the United States (CIF) - 2023
- Refined Coconut Oil Price in the United States (FOB) - 2023
- Refined Coconut Oil Imports in the United States
- Refined Coconut Oil Exports in the United States
Refined Coconut Oil Price in the United States (CIF) - 2023
In August 2023, the average refined coconut oil import price amounted to $1,505 per ton, rising by 7.3% against the previous month. Over the period under review, the import price, however, saw a pronounced contraction. The pace of growth was the most pronounced in March 2023 when the average import price increased by 46% month-to-month. Over the period under review, average import prices reached the peak figure at $2,361 per ton in August 2022; however, from September 2022 to August 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Vietnam ($3,707 per ton), while the price for Indonesia ($1,169 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+3.8%), while the prices for the other major suppliers experienced a decline.
Refined Coconut Oil Price in the United States (FOB) - 2023
In August 2023, the average refined coconut oil export price amounted to $2,346 per ton, waning by -8.5% against the previous month. Overall, the export price showed a slight curtailment. The growth pace was the most rapid in March 2023 an increase of 5.7% against the previous month. The export price peaked at $2,899 per ton in September 2022; however, from October 2022 to August 2023, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major external markets. In August 2023, the country with the highest price was Canada ($2,144 per ton), while the average price for exports to Mexico amounted to $2,120 per ton.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (-1.7%).
Refined Coconut Oil Imports in the United States
Refined coconut oil imports into the United States amounted to 333K tons in 2022, increasing by 14% compared with the previous year. The total import volume increased at an average annual rate of +3.4% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, refined coconut oil imports soared to $713M in 2022. Over the period under review, imports enjoyed significant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 55% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.
| Import of Refined Coconut Oil in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Philippines | 238 | 210 | 333 | 376 | 16.5% |
| Indonesia | 75.3 | 74.1 | 122 | 263 | 51.7% |
| Malaysia | 30.9 | 29.1 | 50.1 | 34.9 | 4.1% |
| Others | 54.4 | 38.0 | 39.6 | 39.3 | -10.3% |
| Total | 399 | 351 | 545 | 713 | 21.3% |
Top Suppliers of Refined Coconut Oil to the United States in 2022:
- Philippines (161.0K tons)
- Indonesia (144.4K tons)
- Malaysia (17.7K tons)
Refined Coconut Oil Exports in the United States
After three years of growth, shipments abroad of refined coconut (copra) oil decreased by -3% to 20K tons in 2022. The total export volume increased at an average annual rate of +7.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 24%. As a result, the exports attained the peak of 21K tons, and then dropped slightly in the following year.
In value terms, refined coconut oil exports rose remarkably to $55M in 2022. The total export value increased at an average annual rate of +11.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 26% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Refined Coconut Oil in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 24.4 | 25.0 | 34.2 | 42.5 | 20.3% |
| Mexico | 1.5 | 1.7 | 6.1 | 3.8 | 36.3% |
| Japan | 0.6 | 0.6 | 2.3 | 1.1 | 22.4% |
| Others | 13.3 | 13.1 | 8.2 | 7.8 | -16.3% |
| Total | 39.7 | 40.4 | 50.8 | 55.3 | 11.7% |
Top Export Markets for Refined Coconut Oil from the United States in 2022:
- Canada (17.0K tons)
- Mexico (1.1K tons)
- Japan (0.4K tons)
This report provides an in-depth analysis of the refined coconut oil market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10415800 - Refined coconut (copra) oil and its fractions (excluding chemically modified)
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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In November 2022, the refined coconut oil price stood at $1,724 per ton (CIF, US), which is down by -9.7% against the previous month.
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In May 2022, the coconut oil price per ton stood at $2,366 per ton in May 2022, picking up by 12% against the previous month.
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The average import coconut oil price per ton stood at $2,118 in Apr 2022, falling by -8.6% against the previous month.
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In June 2022, the palm kernel oil price per tonstood at $2,746 per ton, increasing by 8.2% against the previous month.
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In value terms, crude coconut oil imports soared to $20M in April 2023.
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Global refined coconut oil imports dropped by -5.5% y-o-y to 1M tons in 2020. The U.S., China, Germany and South Korea constitute the largest importers of refined coconut oil worldwide. In 2020, American and Chinese imports declined significantly, while the purchases in Turkey followed an upward trend. Last year, the average refined coconut oil import price rose by +4.5% compared to the figures of 2019.
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Coconut oil prices will grow moderately this year, following the fundamental trend relevant to all vegetable oils. The average annual coconut oil price is set to grow by 2.3% y-o-y to $1,674 per ton in 2022 due to limited supply and rising logistic costs.
