Austria: Coconut Oil Market 2024

Coconut Oil Market Size in Austria

In 2022, the Austrian coconut oil market increased by 9.4% to $X, rising for the second consecutive year after three years of decline. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.1% 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 +35.6% against 2020 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Coconut Oil Exports

Exports from Austria

In 2022, after two years of decline, there was significant growth in overseas shipments of coconut (copra) oil, when their volume increased by 40% to X tons. Over the period under review, exports, however, faced a deep contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 122%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, coconut oil exports rose rapidly to $X in 2022. In general, exports, however, showed a pronounced shrinkage. The pace of growth appeared the most rapid in 2013 with an increase of 100% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Hungary (X tons) was the main destination for coconut oil exports from Austria, accounting for a 41% share of total exports. Moreover, coconut oil exports to Hungary exceeded the volume sent to the second major destination, Italy (X tons), threefold. Germany (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Hungary totaled -15.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+28.6% per year) and Germany (+35.2% per year).

In value terms, Italy ($X), Hungary ($X) and Slovenia ($X) appeared to be the largest markets for coconut oil exported from Austria worldwide, together comprising 56% of total exports. Germany, Croatia, Slovakia and Romania lagged somewhat behind, together comprising a further 35%.

Among the main countries of destination, Croatia, with a CAGR of +59.9%, saw the highest rates of growth with regard to 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 coconut oil export price stood at $X per ton in 2022, reducing by -21.1% against the previous year. In general, the export price, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 131%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Hungary ($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 Romania (+26.6%), while the prices for the other major destinations experienced more modest paces of growth.

Coconut Oil Imports

Imports into Austria

In 2022, approx. X tons of coconut (copra) oil were imported into Austria; picking up by 3.5% against the year before. The total import volume increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by 14%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, coconut oil imports totaled $X in 2022. In general, imports saw prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by 33% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

The Netherlands (X tons), Italy (X tons) and Germany (X tons) were the main suppliers of coconut oil imports to Austria, together comprising 97% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +28.8%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the Netherlands ($X), Italy ($X) and Germany ($X) constituted the largest coconut oil suppliers to Austria, together accounting for 94% of total imports.

Italy, with a CAGR of +32.4%, 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 more modest paces of growth.

Import Prices by Country

The average coconut oil import price stood at $X per ton in 2022, increasing by 9.2% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coconut oil import price increased by +31.7% against 2020 indices. The growth pace was the most rapid in 2016 an increase of 27%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :