Bangladesh: Coconut Market 2024

Coconut Market Size in Bangladesh

The Bangladeshi coconut market was finally on the rise to reach $X in 2022, after four years of decline. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Coconut Production in Bangladesh

In value terms, coconut production contracted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 129% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

In 2022, the average coconut yield in Bangladesh amounted to X tons per ha, with an increase of 3.3% compared with the year before. The yield figure increased at an average annual rate of +2.9% over the period 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 2018 with an increase of 14%. The coconut yield peaked at X tons per ha in 2019; however, from 2020 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.

In 2022, approx. X ha of coconuts were harvested in Bangladesh; remaining stable against the year before. Over the period under review, the harvested area, however, continues to indicate a slight contraction. The growth pace was the most rapid in 2020 with an increase of 1.2%. Over the period under review, the harvested area dedicated to coconut production attained the peak figure at X ha in 2018; however, from 2019 to 2022, the harvested area failed to regain momentum.

Coconut Exports

Exports from Bangladesh

In 2022, overseas shipments of coconuts decreased by -21.4% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, showed a mild expansion. The pace of growth was the most pronounced in 2018 with an increase of 1,446% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, coconut exports contracted notably to $X in 2022. Over the period under review, exports, however, recorded slight growth. The most prominent rate of growth was recorded in 2018 when exports increased by 542%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Canada (X tons) was the main destination for coconut exports from Bangladesh, accounting for a 59% share of total exports. Moreover, coconut exports to Canada exceeded the volume sent to the second major destination, France (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to Canada amounted to +65.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+1,829.0% per year) and Bahrain (+8.7% per year).

In value terms, Canada ($X) emerged as the key foreign market for coconuts exports from Bangladesh, comprising 59% of total exports. The second position in the ranking was taken by France ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Canada stood at +73.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+926.4% per year) and Bahrain (-6.7% per year).

Export Prices by Country

The average coconut export price stood at $X per ton in 2022, growing by 3.2% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 139%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Bahrain ($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 Lebanon (+228.8%), while the prices for the other major destinations experienced mixed trend patterns.

Coconut Imports

Imports into Bangladesh

In 2022, purchases abroad of coconuts increased by 583% to X tons, rising for the third year in a row after three years of decline. Over the period under review, imports continue to indicate a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, coconut imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate a perceptible reduction. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Myanmar (X tons) constituted the largest coconut supplier to Bangladesh, accounting for a approx. 45% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Myanmar amounted to +96.7%.

In value terms, Myanmar ($X) constituted the largest supplier of coconuts to Bangladesh.

From 2012 to 2022, the average annual rate of growth in terms of value from Myanmar amounted to +110.9%.

Import Prices by Country

The average coconut import price stood at $X per ton in 2022, which is down by -28.6% against the previous year. In general, the import price showed a perceptible curtailment. The most prominent rate of growth was recorded in 2014 an increase of 77%. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Myanmar.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +9.1% per year.

Source: IndexBox Platform

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