China: Crude Coconut Oil Market 2022

Crude Coconut Oil Market Size in China

The Chinese crude coconut oil market contracted to $X in 2021, which is down by -X% against the previous year. Over the period under review, consumption recorded a sharp slump. Crude coconut oil consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Crude Coconut Oil Production in China

In value terms, crude coconut oil production reduced to $X in 2021 estimated in export prices. In general, production recorded a deep setback. The pace of growth appeared the most rapid in 2019 when the production volume increased by X% against the previous year. Crude coconut oil production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Crude Coconut Oil Exports

Exports from China

After two years of decline, overseas shipments of crude coconut (copra) oil increased by X% to X tonnes in 2021. In general, exports recorded a prominent expansion. Over the period under review, the exports reached the peak figure at X tonnes in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, crude coconut oil exports soared to $X in 2021. Overall, exports showed buoyant growth. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Madagascar (X tonnes) was the main destination for crude coconut oil exports from China, accounting for a X% share of total exports. Moreover, crude coconut oil exports to Madagascar exceeded the volume sent to the second major destination, the United States (X tonnes), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Madagascar stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+X% per year) and Switzerland (+X% per year).

From 2012 to 2021, the average annual growth rate of value to the United States totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Madagascar (+X% per year) and Switzerland (+X% per year).

Export Prices by Country

The average crude coconut oil export price stood at $X per tonne in 2021, falling by -X% against the previous year. In general, the export price continues to indicate a pronounced setback. The pace of growth appeared the most rapid in 2020 when the average export price increased by X% year-to-year. As a result, the export price reached the peak level of $X per tonne, and then shrank notably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per tonne), while the average price for exports to Madagascar ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+X%), while the prices for the other major destinations experienced a decline.

Crude Coconut Oil Imports

Imports into China

For the seventh consecutive year, China recorded decline in purchases abroad of crude coconut (copra) oil, which decreased by -X% to X tonnes in 2021. Over the period under review, imports saw a dramatic shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of X% year-to-year. Over the period under review, imports attained the peak figure at X tonnes in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, crude coconut oil imports reduced slightly to $X in 2021. In general, imports recorded a sharp curtailment. The pace of growth appeared the most rapid in 2014 with an increase of X% y-o-y. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Indonesia (X tonnes) constituted the largest crude coconut oil supplier to China, accounting for a X% share of total imports. Moreover, crude coconut oil imports from Indonesia exceeded the figures recorded by the second-largest supplier, Vietnam (X tonnes), fivefold. The third position in this ranking was occupied by the Philippines (X tonnes), with a X% share.

From 2012 to 2021, the average annual growth rate of volume from Indonesia stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-X% per year) and the Philippines (-X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of crude coconut oil to China, comprising X% of total imports. The second position in the ranking was occupied by Vietnam ($X), with a X% share of total imports. It was followed by the Philippines, with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Indonesia stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+X% per year) and the Philippines (-X% per year).

Import Prices by Country

The average crude coconut oil import price stood at $X per tonne in 2021, therefore, remained relatively stable against the previous year. Overall, import price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, crude coconut oil import price increased by +X% against 2017 indices. The growth pace was the most rapid in 2014 when the average import price increased by X% year-to-year. The import price peaked at $X per tonne in 2020, and then shrank in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Sri Lanka ($X per tonne), while the price for the Philippines ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform