U.S.: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in the U.S.

The U.S. refined coconut oil market reached $X in 2022, leveling off at the previous year. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Refined Coconut Oil Production in the U.S.

In value terms, refined coconut oil production reached $X in 2022. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Refined coconut oil production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Refined Coconut Oil Exports

Exports from the U.S.

In 2022, after two years of growth, there was decline in shipments abroad of refined coconut (copra) oil, when their volume decreased by X% to X tons. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, refined coconut oil exports rose markedly to $X in 2022. Overall, total exports indicated a buoyant increase 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, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

Canada (X tons) was the main destination for refined coconut oil exports from the United States, accounting for a X% share of total exports. Moreover, refined coconut oil exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), more than tenfold. Japan (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Canada totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Japan (X% per year).

In value terms, Canada ($X) remains the key foreign market for refined coconut (copra) oil exports from the United States, comprising X% of total exports. The second position in the ranking was held by Mexico ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Japan (X% per year).

Export Prices by Country

In 2022, the average refined coconut oil export price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, export price indicated a buoyant 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 export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

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

Refined Coconut Oil Imports

Imports into the U.S.

In 2022, refined coconut oil imports into the United States rose rapidly to X tons, with an increase of X% on the year before. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, refined coconut oil imports soared to $X in 2022. Overall, total imports indicated buoyant 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

The Philippines (X tons), Indonesia (X tons) and Malaysia (X tons) were the main suppliers of refined coconut oil imports to the United States, together accounting for X% of total imports.

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

In value terms, the Philippines ($X), Indonesia ($X) and Malaysia ($X) were the largest refined coconut oil suppliers to the United States, together accounting for X% of total imports.

Indonesia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average refined coconut oil import price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, import price indicated noticeable growth 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 most prominent rate of growth was recorded in 2014 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($X per ton), while the price for Indonesia ($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 Philippines (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :