Latin America and the Caribbean: Coconut Market 2024

Coconut Market Size in Latin America and the Caribbean

The Latin American coconut market declined modestly to $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Over the period under review, the market attained the peak level at $X in 2021, and then fell slightly in the following year.

Coconut Production in Latin America and the Caribbean

In value terms, coconut production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of coconut production was Brazil (X tons), comprising approx. X% of total volume. Moreover, coconut production in Brazil exceeded the figures recorded by the second-largest producer, Mexico (X tons), twofold. The Dominican Republic (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Brazil stood at X%. The remaining producing countries recorded the following average annual rates of production growth: Mexico (X% per year) and the Dominican Republic (X% per year).

The average coconut yield reduced to X tons per ha in 2022, remaining constant against the previous year's figure. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the coconut yield hit record highs at X tons per ha in 2021, and then fell modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The coconut harvested area declined modestly to X ha in 2022, therefore, remained relatively stable against 2021 figures. Overall, the harvested area showed a pronounced shrinkage. The growth pace was the most rapid in 2013 when the harvested area increased by X%. As a result, the harvested area attained the peak level of X ha. From 2014 to 2022, the growth of the coconut harvested area remained at a somewhat lower figure.

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Coconut Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of coconuts increased by X% to X tons, rising for the second year in a row after two years of decline. In general, exports recorded a moderate increase. The growth pace was the most rapid in 2021 when exports increased by X%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, coconut exports soared to $X in 2022. Overall, exports enjoyed strong growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Guyana was the largest exporting country with an export of around X tons, which accounted for X% of total exports. Mexico (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Venezuela (X%) and Costa Rica (X%). Brazil (X tons) followed a long way behind the leaders.

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

In value terms, the largest coconut supplying countries in Latin America and the Caribbean were Guyana ($X), Mexico ($X) and Costa Rica ($X), with a combined X% share of total exports.

Costa Rica, with a CAGR of X%, recorded 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 Latin America and the Caribbean stood at $X per ton in 2022, picking up by X% against the previous year. Export price indicated prominent 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, coconut export price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2020; however, from 2021 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 Costa Rica ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

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

Coconut Imports

Imports in Latin America and the Caribbean

In 2022, the amount of coconuts imported in Latin America and the Caribbean skyrocketed to X tons, rising by X% compared with the year before. Total imports indicated a strong increase 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 decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, coconut imports soared to $X in 2022. Over the period under review, imports posted a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Dominican Republic was the major importer of coconuts in Latin America and the Caribbean, with the volume of imports reaching X tons, which was near X% of total imports in 2022. It was distantly followed by Colombia (X tons), achieving an X% share of total imports. El Salvador (X tons), British Virgin Islands (X tons) and Chile (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to coconut imports into the Dominican Republic stood at X%. At the same time, British Virgin Islands (X%), El Salvador (X%), Chile (X%) and Colombia (X%) displayed positive paces of growth. Moreover, British Virgin Islands emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. While the share of the Dominican Republic (X p.p.) and British Virgin Islands (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Colombia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Dominican Republic ($X) constitutes the largest market for imported coconuts in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Colombia ($X), with an X% share of total imports. It was followed by Chile, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the Dominican Republic stood at X%. In the other countries, the average annual rates were as follows: Colombia (X% per year) and Chile (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by X% against the previous year. Import price indicated a moderate 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, coconut import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2016 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs 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 destination: amid the top importers, the country with the highest price was Chile ($X per ton), while El Salvador ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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