Peru: Crude Coconut Oil Market 2023

Crude Coconut Oil Market Size in Peru

After four years of growth, the Peruvian crude coconut oil market decreased by -26.7% to $X in 2021. Over the period under review, consumption, however, posted a significant increase. Crude coconut oil consumption peaked at $X in 2020, and then fell notably in the following year.

Crude Coconut Oil Exports

Exports from Peru

In 2021, overseas shipments of crude coconut (copra) oil increased by 83% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports recorded significant growth. The pace of growth appeared the most rapid in 2017 when exports increased by 1,667% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, crude coconut oil exports skyrocketed to $X in 2021. In general, exports showed a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 1,405%. The exports peaked in 2021 and are likely to continue growth in the near future.

Exports by Country

Slovenia (X tons), Canada (X tons) and Ecuador (X tons) were the main destinations of crude coconut oil exports from Peru, with a combined 99% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +59.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for crude coconut oil exported from Peru were Canada ($X), Slovenia ($X) and Ecuador ($X), with a combined 89% share of total exports.

In terms of the main countries of destination, Canada, with a CAGR of +71.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average crude coconut oil export price stood at $X per ton in 2021, with a decrease of -3.3% against the previous year. Over the period under review, the export price saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2014 when the average export price increased by 68% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Canada ($X per ton), while the average price for exports to Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+7.3%), while the prices for the other major destinations experienced a decline.

Crude Coconut Oil Imports

Imports into Peru

After four years of growth, purchases abroad of crude coconut (copra) oil decreased by -18.9% to X tons in 2021. Over the period under review, imports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2017 when imports increased by 661%. Imports peaked at X tons in 2020, and then declined markedly in the following year.

In value terms, crude coconut oil imports contracted notably to $X in 2021. Overall, imports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2017 when imports increased by 823% against the previous year. Over the period under review, imports hit record highs at $X in 2020, and then shrank dramatically in the following year.

Imports by Country

In 2021, the Philippines (X tons) constituted the largest supplier of crude coconut oil to Peru, accounting for a 60% share of total imports. Moreover, crude coconut oil imports from the Philippines exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. The third position in this ranking was held by Sri Lanka (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Philippines totaled +114.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+169.1% per year) and Sri Lanka (+72.3% per year).

In value terms, the Philippines ($X) constituted the largest supplier of crude coconut oil to Peru, comprising 58% of total imports. The second position in the ranking was held by the United States ($X), with a 16% share of total imports. It was followed by the Netherlands, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from the Philippines stood at +135.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+164.1% per year) and the Netherlands (+151.5% per year).

Import Prices by Country

In 2021, the average crude coconut oil import price amounted to $X per ton, reducing by -7.1% against the previous year. Overall, import price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, crude coconut oil import price decreased by -26.2% against 2017 indices. The most prominent rate of growth was recorded in 2015 an increase of 46% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the Netherlands ($X per ton), while the price for Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+20.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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