Latin America and the Caribbean: Crude Coconut Oil Market 2024

Crude Coconut Oil Market Size in Latin America and the Caribbean

The Latin American crude coconut oil market totaled $X in 2022, remaining constant against the previous year. In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Crude Coconut Oil Production in Latin America and the Caribbean

In value terms, crude coconut oil production expanded to $X in 2022 estimated in export price. Overall, production continues to indicate pronounced growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

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Crude Coconut Oil Exports

Exports in Latin America and the Caribbean

Crude coconut oil exports soared to X tons in 2022, jumping by X% against the year before. In general, exports, however, showed a abrupt decrease. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, crude coconut oil exports soared to $X in 2022. Over the period under review, exports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Honduras represented the main exporting country with an export of about X tons, which reached X% of total exports. It was distantly followed by Mexico (X tons) and the Dominican Republic (X tons), together committing a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to crude coconut oil exports from Honduras stood at X%. At the same time, the Dominican Republic (X%) and Mexico (X%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Honduras, Mexico and the Dominican Republic increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Honduras ($X) and the Dominican Republic ($X) constituted the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

The Dominican Republic, 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 Latin America and the Caribbean stood at $X per ton in 2022, increasing by X% against the previous year. Export price indicated a mild 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, crude coconut oil export price decreased by X% against 2017 indices. The pace of growth was the most pronounced in 2017 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Honduras ($X per ton) was amongst the lowest.

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

Crude Coconut Oil Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of crude coconut (copra) oil decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, imports saw a deep downturn. The pace of growth was the most pronounced in 2020 when imports increased by X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, crude coconut oil imports expanded to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 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

Trinidad and Tobago was the key importing country with an import of around X tons, which recorded X% of total imports. It was distantly followed by Colombia (X tons), Brazil (X tons) and Jamaica (X tons), together generating a X% share of total imports. The following importers - the Dominican Republic (X tons) and Chile (X tons) - each reached a X% share of total imports.

Imports into Trinidad and Tobago increased at an average annual rate of X% from 2012 to 2022. At the same time, the Dominican Republic (X%), Jamaica (X%) and Chile (X%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Colombia experienced a relatively flat trend pattern. By contrast, Brazil (X%) illustrated a downward trend over the same period. Trinidad and Tobago (X p.p.), Colombia (X p.p.), Jamaica (X p.p.), the Dominican Republic (X p.p.) and Chile (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Trinidad and Tobago ($X) constitutes the largest market for imported crude coconut (copra) oil in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Colombia ($X), with a X% share of total imports. It was followed by Brazil, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Trinidad and Tobago amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Colombia (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2016 when the import price increased by X%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Colombia ($X per ton), while Jamaica ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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