Eastern Asia: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in Eastern Asia

In 2022, the East Asian refined coconut oil market increased by X% to $X, rising for the second consecutive year after two years of decline. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X; afterwards, it flattened through to 2022.

Refined Coconut Oil Production in Eastern Asia

In value terms, refined coconut oil production contracted slightly to $X in 2022 estimated in export price. In general, production continues to indicate a slight expansion. The pace of growth was the most pronounced 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 lower figure.

Refined Coconut Oil Exports

Exports in Eastern Asia

In 2022, after two years of growth, there was significant decline in overseas shipments of refined coconut (copra) oil, when their volume decreased by X% to X tons. Overall, exports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined coconut oil exports contracted sharply to $X in 2022. Over the period under review, exports, however, continue to indicate measured growth. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

China represented the key exporter of refined coconut (copra) oil in Eastern Asia, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. Hong Kong SAR (X tons) ranks second in terms of the total exports with a X% share, followed by Japan (X%) and Taiwan (Chinese) (X%). South Korea (X tons) took a minor share of total exports.

China was also the fastest-growing in terms of the refined coconut (copra) oil exports, with a CAGR of X% from 2012 to 2022. At the same time, Hong Kong SAR (X%) displayed positive paces of growth. By contrast, South Korea (X%), Japan (X%) and Taiwan (Chinese) (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) and Hong Kong SAR (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (X p.p.), Taiwan (Chinese) (X p.p.) and Japan (X p.p.) displayed negative dynamics.

In value terms, China ($X), Hong Kong SAR ($X) and Japan ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

China, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries 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 Eastern Asia stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt descent. The growth pace was the most rapid in 2019 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

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

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

Refined Coconut Oil Imports

Imports in Eastern Asia

Refined coconut oil imports expanded significantly to X tons in 2022, surging by X% against the previous year's figure. Total imports indicated a resilient expansion 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 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, refined coconut oil imports surged to $X in 2022. Overall, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

China represented the key importing country with an import of about X tons, which resulted at X% of total imports. South Korea (X tons) ranks second in terms of the total imports with a X% share, followed by Japan (X%). Taiwan (Chinese) (X tons) followed a long way behind the leaders.

Imports into China increased at an average annual rate of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, South Korea (X%) and Japan (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Japan (X p.p.) and South Korea (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, refined coconut oil imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Japan (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, growing by X% against the previous year. Import price indicated a moderate increase 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 most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and Japan ($X per ton), while China ($X per ton) and South Korea ($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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