Singapore: Coconut Market 2024

Coconut Market Size in Singapore

The Singaporean coconut market rose rapidly to $X in 2022, surging by X% against the previous year. In general, the total consumption indicated resilient growth from 2012 to 2022: its value 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, consumption increased by X% against 2017 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the near future.

Coconut Production in Singapore

In value terms, coconut production reduced to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

The average yield of coconuts in Singapore totaled X tons per ha in 2022, flattening at the year before. Overall, the yield, however, recorded a perceptible shrinkage. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, the average coconut yield reached the peak level at X tons per ha in 2013; however, from 2014 to 2022, the yield remained at a lower figure. 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 in Singapore was estimated at X ha in 2022, approximately equating 2021 figures. Over the period under review, the harvested area saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The coconut harvested area peaked at X ha in 2014; however, from 2015 to 2022, the harvested area remained at a lower figure.

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Coconut Exports

Exports from Singapore

In 2022, overseas shipments of coconuts decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, recorded a modest expansion. The pace of growth was the most pronounced in 2020 with an increase of X%. The exports peaked at X tons in 2021, and then shrank significantly in the following year.

In value terms, coconut exports declined to $X in 2022. Overall, exports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by X%. The exports peaked at $X in 2021, and then shrank in the following year.

Exports by Country

Malaysia (X tons) was the main destination for coconut exports from Singapore, accounting for a X% share of total exports. Moreover, coconut exports to Malaysia exceeded the volume sent to the second major destination, Jordan (X tons), threefold. The third position in this ranking was held by Brunei Darussalam (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (X% per year) and Brunei Darussalam (X% per year).

In value terms, Malaysia ($X) remains the key foreign market for coconuts exports from Singapore, comprising X% of total exports. The second position in the ranking was held by Jordan ($X), with a X% share of total exports. It was followed by Brunei Darussalam, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (X% per year) and Brunei Darussalam (X% per year).

Export Prices by Country

The average coconut export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, export 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. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Malaysia ($X per ton) and Jordan ($X per ton), while the average price for exports to Indonesia ($X per ton) and Brunei Darussalam ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Coconut Imports

Imports into Singapore

In 2022, the amount of coconuts imported into Singapore contracted to X tons, waning by X% compared with 2021. Over the period under review, total imports indicated a modest 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 increased by X% against 2017 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then shrank in the following year.

In value terms, coconut imports rose markedly to $X in 2022. In general, imports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Thailand (X tons), Malaysia (X tons) and Indonesia (X tons) were the main suppliers of coconut imports to Singapore, together accounting for X% of total imports. Vietnam and India lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Malaysia ($X) and Indonesia ($X) were the largest coconut suppliers to Singapore, together comprising X% of total imports. Vietnam and India lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to 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 average coconut import price stood at $X per ton in 2022, growing by X% against the previous year. In general, import price indicated a prominent 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, coconut import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. The import price peaked in 2022 and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Vietnam ($X per ton) and Indonesia ($X per ton), while the price for India ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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