Belarus: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in Belarus

The Belarusian refined coconut oil market expanded markedly to $X in 2022, picking up by 8.2% against the previous year. The market value increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level in 2022 and is likely to continue growth in the immediate term.

Refined Coconut Oil Production in Belarus

In value terms, refined coconut oil production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the production volume increased by 31%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Refined Coconut Oil Exports

Exports from Belarus

In 2022, after seven years of decline, there was significant growth in overseas shipments of refined coconut (copra) oil, when their volume increased by 19% to X kg. In general, exports, however, continue to indicate a significant decline. The growth pace was the most rapid in 2014 with an increase of 64% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, refined coconut oil exports skyrocketed to $X in 2022. Overall, exports, however, saw a sharp curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 65%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Armenia (X kg) was the main destination for refined coconut oil exports from Belarus, accounting for a 73% share of total exports. Moreover, refined coconut oil exports to Armenia exceeded the volume sent to the second major destination, Russia (X kg), threefold.

From 2012 to 2022, the average annual growth rate of volume to Armenia amounted to +34.4%.

In value terms, Armenia ($X) remains the key foreign market for refined coconut (copra) oil exports from Belarus, comprising 78% of total exports. The second position in the ranking was held by Russia ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Armenia amounted to +45.5%.

Export Prices by Country

The average refined coconut oil export price stood at $X per ton in 2022, picking up by 2.3% against the previous year. Overall, the export price continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2017 an increase of 109% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Armenia ($X per ton), while the average price for exports to Russia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Armenia (+8.3%).

Refined Coconut Oil Imports

Imports into Belarus

In 2022, purchases abroad of refined coconut (copra) oil increased by 75% to X tons, rising for the fourth consecutive year after two years of decline. In general, imports saw notable growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, refined coconut oil imports surged to $X in 2022. Over the period under review, imports continue to indicate strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Russia (X tons) constituted the largest refined coconut oil supplier to Belarus, accounting for a 65% share of total imports. Moreover, refined coconut oil imports from Russia exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fivefold. Germany (X tons) ranked third in terms of total imports with an 8.4% share.

From 2012 to 2022, the average annual growth rate of volume from Russia stood at +29.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-7.3% per year) and Germany (-11.9% per year).

In value terms, Russia ($X) constituted the largest supplier of refined coconut (copra) oil to Belarus, comprising 68% of total imports. The second position in the ranking was taken by Germany ($X), with a 9.4% share of total imports. It was followed by the Netherlands, with an 8.4% share.

From 2012 to 2022, the average annual growth rate of value from Russia stood at +33.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-7.9% per year) and the Netherlands (-8.3% per year).

Import Prices by Country

In 2022, the average refined coconut oil import price amounted to $X per ton, increasing by 25% against the previous year. Over the period under review, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.9% 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 +100.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 61% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the Netherlands ($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 (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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