Asia: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in Asia

In 2022, the Asian refined coconut oil market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the market hit record highs at $X in 2021, and then fell in the following year.

Refined Coconut Oil Production in Asia

In value terms, refined coconut oil production amounted to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

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Refined Coconut Oil Exports

Exports in Asia

In 2022, shipments abroad of refined coconut (copra) oil was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2013 when exports increased by X%. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined coconut oil exports surged to $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Indonesia (X tons) and the Philippines (X tons) were the key exporters of refined coconut (copra) oil in 2022, resulting at near X% and X% of total exports, respectively. It was distantly followed by Malaysia (X tons), committing a X% share of total exports. India (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by India (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Indonesia ($X) and Malaysia ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports. India lagged somewhat behind, comprising a further X%.

In terms of the main exporting countries, India, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, increasing by X% against the previous year. Export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined coconut oil export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2014 an increase of X%. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Refined Coconut Oil Imports

Imports in Asia

Refined coconut oil imports amounted to X tons in 2022, surging by X% compared with 2021. Total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, refined coconut oil imports surged to $X in 2022. Over the period under review, imports enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

China was the largest importing country with an import of about X tons, which accounted for X% of total imports. South Korea (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Japan (X%), Malaysia (X%), Turkey (X%) and Singapore (X%). Iran (X tons) held a little share of total imports.

China was also the fastest-growing in terms of the refined coconut (copra) oil imports, with a CAGR of X% from 2012 to 2022. At the same time, Iran (X%) and Turkey (X%) displayed positive paces of growth. Malaysia and Singapore experienced a relatively flat trend pattern. By contrast, South Korea (X%) and Japan (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the total imports, while Singapore, Malaysia, Japan and South Korea saw its share reduced by X%, X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported refined coconut (copra) oil in Asia, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with an X% share of total imports. It was followed by Japan, with an X% share.

In China, refined coconut oil imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, with an increase of X% against the previous year. Import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined coconut oil import price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Malaysia ($X per ton) and Japan ($X per ton), while Iran ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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