Kenya: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in Kenya

The Kenyan refined coconut oil market rose slightly to $X in 2022, surging by X% against the previous year. In general, the total consumption indicated a tangible 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, consumption decreased by X% against 2020 indices. Refined coconut oil consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Refined Coconut Oil Production in Kenya

In value terms, refined coconut oil production rose remarkably to $X in 2022 estimated in export price. Over the period under review, the total production indicated prominent growth 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Refined Coconut Oil Exports

Exports from Kenya

In 2022, overseas shipments of refined coconut (copra) oil increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, saw a noticeable slump. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, refined coconut oil exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a strong increase. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), the Netherlands (X tons) and France (X tons) were the main destinations of refined coconut oil exports from Kenya, with a combined X% share of total exports.

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

In value terms, the largest markets for refined coconut oil exported from Kenya were the United States ($X), the Netherlands ($X) and France ($X), with a combined X% share of total exports.

The United States, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average refined coconut oil export price amounted to $X per ton, jumping by X% against the previous year. Overall, the export price saw a strong increase. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Tanzania ($X per ton) was amongst the lowest.

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

Refined Coconut Oil Imports

Imports into Kenya

After two years of growth, purchases abroad of refined coconut (copra) oil decreased by X% to X tons in 2022. In general, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, refined coconut oil imports shrank to $X in 2022. Overall, imports saw a perceptible setback. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest refined coconut oil supplier to Kenya, with a X% share of total imports. Moreover, refined coconut oil imports from Malaysia exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The third position in this ranking was taken by Sri Lanka (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Sri Lanka (X% per year).

In value terms, the largest refined coconut oil suppliers to Kenya were Malaysia ($X), India ($X) and Sri Lanka ($X), together accounting for X% of total imports.

Among the main suppliers, India, 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 a decline.

Import Prices by Country

The average refined coconut oil import price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, import price indicated a tangible expansion 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 decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Sri Lanka ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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