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China - Coconut (Copra) Oil - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

China - Coconut (Copra) Oil - Market Analysis, Forecast, Size, Trends and Insights

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Apr 3, 2023

China Witnesses 4% Decrease in Coconut Oil Price, Now at $1,201 per Ton

China Coconut Oil Import Price in February 2023

In February 2023, the coconut oil price amounted to $1,201 per ton (CIF, China), reducing by -3.9% against the previous month. In general, the import price continues to indicate a perceptible shrinkage. The pace of growth was the most pronounced in April 2022 when the average import price increased by 4.7% against the previous month. Over the period under review, average import prices hit record highs at $2,219 per ton in May 2022; however, from June 2022 to February 2023, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In February 2023, the country with the highest price was Malaysia ($1,539 per ton), while the price for Indonesia ($1,179 per ton) was amongst the lowest.

From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by Malaysia (-2.3%), while the prices for the other major suppliers experienced a decline.

China Coconut Oil Import Prices by Type

As there is only one major imported type of coconut oil, the average price level is determined by prices for refined coconut (copra) oil.

From February 2022 to February 2023, the rate of growth in terms of prices for crude coconut oil amounted to -3.7% per month.

China Coconut Oil Imports

In February 2023, the amount of coconut (copra) oil imported into China declined significantly to 12K tons, reducing by -38.2% on the previous month. Overall, imports recorded a mild downturn. The growth pace was the most rapid in March 2022 when imports increased by 57% month-to-month. Over the period under review, imports hit record highs at 29K tons in June 2022; however, from July 2022 to February 2023, imports remained at a lower figure.

In value terms, coconut oil imports reduced dramatically to $14M (IndexBox estimates) in February 2023. Over the period under review, imports continue to indicate a deep downturn. The pace of growth was the most pronounced in March 2022 with an increase of 60% month-to-month. Imports peaked at 63K tons in June 2022; however, from July 2022 to February 2023, imports failed to regain momentum.

China Coconut Oil Imports by Type

In February 2023, refined coconut (copra) oil (12K tons) was the main type of coconut oil supplied to China, accounting for a approximately 100% share of total imports.

From February 2022 to February 2023, the average monthly growth rate of the volume of import of refined coconut (copra) oil stood at -1.3%.

In value terms, refined coconut (copra) oil ($14M) constituted the largest type of coconut oil supplied to China.

China Coconut Oil Imports by Country

In February 2023, Indonesia (9.5K tons) constituted the largest coconut oil supplier to China, accounting for a 81% share of total imports. Moreover, coconut oil imports from Indonesia exceeded the figures recorded by the second-largest supplier, the Philippines (2.1K tons), fivefold.

From February 2022 to February 2023, the average monthly growth rate of volume from Indonesia totaled +2.2%. The remaining supplying countries recorded the following average monthly rates of imports growth: the Philippines (-5.1% per month) and Malaysia (-21.9% per month).

In value terms, Indonesia ($11M) constituted the largest supplier of coconut oil to China, comprising 80% of total imports. The second position in the ranking was taken by the Philippines ($2.6M), with an 18% share of total imports.

From February 2022 to February 2023, the average monthly growth rate of value from Indonesia stood at -2.3%. The remaining supplying countries recorded the following average monthly rates of imports growth: the Philippines (-8.5% per month) and Malaysia (-23.7% per month).

Coconut Oil Market Sees Price Decline Due to Increased Production

The price decline can be attributed to various factors, including increased production in coconut oil-producing countries such as the Philippines and Indonesia.

Furthermore, China's recent decision to reduce tariffs on palm oil imports may also be contributing to the reduced demand for coconut oil. It is expected that this trend will continue in the foreseeable future, and those within the coconut oil market may need to adapt their business strategies accordingly.

Despite this decrease in price, coconut oil remains a popular and versatile commodity in China and abroad, with various applications in the food, beauty, and healthcare industries.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the coconut oil market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 252 - Oil of Coconuts

Country coverage:

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in China
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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