Latin America and the Caribbean: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in Latin America and the Caribbean

The Latin American refined coconut oil market shrank modestly to $X in 2022, reducing by X% against the previous year. Over the period under review, consumption saw a mild decrease. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Refined Coconut Oil Production in Latin America and the Caribbean

In value terms, refined coconut oil production contracted to $X in 2022 estimated in export price. Overall, production saw a slight setback. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Refined Coconut Oil Exports

Exports in Latin America and the Caribbean

In 2022, the amount of refined coconut (copra) oil exported in Latin America and the Caribbean soared to X tons, growing by X% compared with the previous year's figure. Total exports indicated a temperate 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. The most prominent rate of growth was recorded in 2017 when exports increased by X%. 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 soared to $X in 2022. In general, exports showed a strong increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

Trinidad and Tobago was the major exporter of refined coconut (copra) oil in Latin America and the Caribbean, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. Uruguay (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Chile (X%). Brazil (X tons) held a relatively small share of total exports.

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

In value terms, Trinidad and Tobago ($X) remains the largest refined coconut oil supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Uruguay ($X), with a X% share of total exports. It was followed by Chile, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Trinidad and Tobago amounted to X%. In the other countries, the average annual rates were as follows: Uruguay (X% per year) and Chile (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, leveling off at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2015 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2021, and then reduced modestly in the following year.

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 Brazil ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

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

Refined Coconut Oil Imports

Imports in Latin America and the Caribbean

In 2022, imports of refined coconut (copra) oil in Latin America and the Caribbean declined sharply to X tons, falling by X% on 2021. Total imports indicated a slight 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 decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, refined coconut oil imports reduced to $X in 2022. Over the period under review, imports, however, recorded a notable expansion. The growth pace was the most rapid in 2016 with an increase of X%. The level of import peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Brazil (X tons), distantly followed by Argentina (X tons), Jamaica (X tons), Trinidad and Tobago (X tons) and Mexico (X tons) were the major importers of refined coconut (copra) oil, together constituting X% of total imports. The following importers - Chile (X tons), Panama (X tons), Saint Lucia (X tons) and Costa Rica (X tons) - together made up X% of total imports.

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

In value terms, the largest refined coconut oil importing markets in Latin America and the Caribbean were Brazil ($X), Argentina ($X) and Jamaica ($X), together accounting for X% of total imports. Mexico, Chile, Trinidad and Tobago, Costa Rica, Panama and Saint Lucia lagged somewhat behind, together accounting for a further X%.

Panama, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. Import price indicated a measured 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 pace of growth was the most pronounced in 2021 when the import price increased by X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

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

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

Source: IndexBox Platform

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