Indonesia: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in Indonesia

The Indonesian refined coconut oil market shrank significantly to $X in 2022, which is down by X% against the previous year. In general, consumption showed a perceptible reduction. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Refined Coconut Oil Production in Indonesia

In value terms, refined coconut oil production expanded slightly to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

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Refined Coconut Oil Exports

Exports from Indonesia

In 2022, approx. X tons of refined coconut (copra) oil were exported from Indonesia; surging by X% against the previous year's figure. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, refined coconut oil exports reached $X in 2022. In general, exports recorded a resilient increase. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

China (X tons), the United States (X tons) and South Korea (X tons) were the main destinations of refined coconut oil exports from Indonesia, with a combined X% share of total exports. Russia, Singapore, Tunisia, Egypt and Malaysia lagged somewhat behind, together accounting for a further X%.

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

In value terms, China ($X), the United States ($X) and South Korea ($X) were the largest markets for refined coconut oil exported from Indonesia worldwide, with a combined X% share of total exports. Russia, Singapore, Egypt, Tunisia and Malaysia lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Egypt, 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 average refined coconut oil export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, export price indicated perceptible 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 most prominent rate of growth was recorded in 2021 when the average export price increased by X%. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Russia ($X per ton) and Malaysia ($X per ton), while the average price for exports to Tunisia ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Coconut Oil Imports

Imports into Indonesia

In 2022, approx. X tons of refined coconut (copra) oil were imported into Indonesia; surging by X% against 2021. Overall, imports enjoyed a significant expansion. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, refined coconut oil imports soared to $X in 2022. In general, imports showed a significant increase. The pace of growth appeared the most rapid in 2019 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

India (X tons), the Philippines (X tons) and South Korea (X tons) were the main suppliers of refined coconut oil imports to Indonesia, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of X.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest refined coconut oil suppliers to Indonesia were India ($X), the Philippines ($X) and South Korea ($X), together comprising X% of total imports.

India, with a CAGR of X.8%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average refined coconut oil import price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price, however, saw a slight decline. Over the period under review, average import prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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