MENA: Crude Coconut Oil Market 2024

Crude Coconut Oil Market Size in MENA

In 2022, the MENA's crude coconut oil market increased by X% to $X, rising for the second year in a row after four years of decline. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Crude Coconut Oil Production in MENA

In value terms, crude coconut oil production totaled $X in 2022 estimated in export price. Overall, production saw a significant increase. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, production hit record highs in 2022 and is likely to see steady growth in the near future.

Crude Coconut Oil Exports

Exports in MENA

In 2022, shipments abroad of crude coconut (copra) oil increased by X% to X tons, rising for the fourth consecutive year after four years of decline. In general, exports showed a modest expansion. The volume of export peaked at X tons in 2014; however, from 2015 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 posted a pronounced increase. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates prevails in exports structure, accounting for X tons, which was near X% of total exports in 2022. Israel (X tons), Oman (X tons) and Turkey (X tons) followed a long way behind the leaders.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of crude coconut (copra) oil. At the same time, Turkey (X%) and Israel (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. By contrast, Oman (X%) illustrated a downward trend over the same period. While the share of Israel (X p.p.), Oman (X p.p.) and Turkey (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest crude coconut oil supplier in MENA, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with an X% share of total exports. It was followed by Israel, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%. In the other countries, the average annual rates were as follows: Turkey (X% per year) and Israel (X% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price, however, continues to indicate temperate growth. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2021, and then dropped dramatically 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 Turkey ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Crude Coconut Oil Imports

Imports in MENA

In 2022, the amount of crude coconut (copra) oil imported in MENA reduced remarkably to X tons, falling by X% on 2021. In general, imports recorded a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, crude coconut oil imports fell notably to $X in 2022. Over the period under review, imports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Yemen (X tons), the United Arab Emirates (X tons) and Iran (X tons) represented roughly X% of total imports in 2022. Qatar (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Morocco (X%) and Turkey (X%). Israel (X tons) took a minor share of total imports.

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

In value terms, the largest crude coconut oil importing markets in MENA were Yemen ($X), the United Arab Emirates ($X) and Qatar ($X), together comprising X% of total imports. Iran, Morocco, Turkey and Israel lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, declining by X% against the previous year. Import price indicated a resilient 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 import price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 an increase of X%. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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