Vietnam: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in Vietnam

After four years of decline, the Vietnamese refined coconut oil market increased by X% to $X in 2022. Over the period under review, consumption, however, saw a abrupt setback. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Refined Coconut Oil Production in Vietnam

In value terms, refined coconut oil production reached $X in 2022 estimated in export price. Overall, production, however, showed a abrupt decrease. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Refined Coconut Oil Exports

Exports from Vietnam

In 2022, the amount of refined coconut (copra) oil exported from Vietnam reduced dramatically to X tons, which is down by X% against the previous year. Over the period under review, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, refined coconut oil exports fell to $X in 2022. Overall, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Canada (X tons) and the Netherlands (X tons) were the main destinations of refined coconut oil exports from Vietnam, together accounting for X% of total exports.

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

In value terms, the United States ($X), Canada ($X) and the Netherlands ($X) appeared to be the largest markets for refined coconut oil exported from Vietnam worldwide, with a combined X% share of total exports.

The United States, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average refined coconut oil export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and the Netherlands ($X per ton), while the average price for exports to Canada ($X per ton) and South Korea ($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 Canada (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Coconut Oil Imports

Imports into Vietnam

In 2022, overseas purchases of refined coconut (copra) oil decreased by X% to X tons, falling for the second year in a row after four years of growth. In general, imports, however, saw buoyant growth. The pace of growth was the most pronounced in 2013 when imports increased by X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, refined coconut oil imports stood at $X in 2022. Over the period under review, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Indonesia (X tons), Malaysia (X tons) and India (X tons) were the main suppliers of refined coconut oil imports to Vietnam, with a combined X% share of total imports. The Philippines, New Zealand and South Korea lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest refined coconut oil suppliers to Vietnam were Indonesia ($X), Malaysia ($X) and India ($X), together accounting for X% of total imports. The Philippines, New Zealand and South Korea lagged somewhat behind, together comprising a further X%.

Among the main suppliers, New Zealand, 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 average refined coconut oil import price stood at $X per ton in 2022, growing by X% against the previous year. Overall, import price indicated prominent 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 pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain 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 the Philippines ($X per ton) and India ($X per ton), while the price for New Zealand ($X per ton) and South Korea ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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