Australia and Oceania: Crude Coconut Oil Market 2024

Crude Coconut Oil Market Size in Australia and Oceania

After two years of growth, the crude coconut oil market in Australia and Oceania decreased by X% to $X in 2022. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Crude Coconut Oil Production in Australia and Oceania

In value terms, crude coconut oil production expanded notably to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

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Crude Coconut Oil Exports

Exports in Australia and Oceania

In 2022, shipments abroad of crude coconut (copra) oil increased by X% to X tons, rising for the third consecutive year after two years of decline. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude coconut oil exports fell notably to $X in 2022. In general, exports recorded a measured expansion. The growth pace was the most rapid in 2021 with an increase of X%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Papua New Guinea (X tons) represented the major exporter of crude coconut (copra) oil, achieving X% of total exports. French Polynesia (X tons) ranks second in terms of the total exports with a X% share, followed by Solomon Islands (X%). The following exporters - Kiribati (X tons) and Vanuatu (X tons) - together made up X% of total exports.

Papua New Guinea experienced a relatively flat trend pattern with regard to volume of exports of crude coconut (copra) oil. At the same time, Solomon Islands (X%) displayed positive paces of growth. Moreover, Solomon Islands emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of X% from 2012-2022. French Polynesia experienced a relatively flat trend pattern. By contrast, Kiribati (X%) and Vanuatu (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of French Polynesia, Solomon Islands and Papua New Guinea increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Papua New Guinea ($X) remains the largest crude coconut oil supplier in Australia and Oceania, comprising X% of total exports. The second position in the ranking was held by Solomon Islands ($X), with a X% share of total exports. It was followed by French Polynesia, with a X% share.

In Papua New Guinea, crude coconut oil exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Solomon Islands (X% per year) and French Polynesia (X% per year).

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, dropping by X% against the previous year. Export price indicated temperate 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, crude coconut oil export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then fell markedly in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Kiribati ($X per ton) and Solomon Islands ($X per ton), while Papua New Guinea ($X per ton) and Vanuatu ($X per ton) were amongst the lowest.

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

Crude Coconut Oil Imports

Imports in Australia and Oceania

For the third consecutive year, Australia and Oceania recorded growth in overseas purchases of crude coconut (copra) oil, which increased by X% to X tons in 2022. Overall, imports recorded a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, crude coconut oil imports skyrocketed to $X in 2022. Over the period under review, imports recorded buoyant growth. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of crude coconut (copra) oil, namely New Zealand, Australia and Fiji, represented more than two-thirds of total import.

From 2012 to 2022, the biggest increases were recorded for Fiji (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest crude coconut oil importing markets in Australia and Oceania were New Zealand ($X), Australia ($X) and Fiji ($X), together accounting for X% of total imports.

In terms of the main importing countries, Fiji, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per ton, growing by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Australia ($X per ton), while Fiji ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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