Benelux: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in Benelux

The Benelux refined coconut oil market surged to $X in 2022, increasing by 24% against the previous year. The total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +8.2% 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 +61.2% against 2018 indices. Over the period under review, the market reached the peak level in 2022 and is likely to see gradual growth in years to come.

Refined Coconut Oil Production in Benelux

In value terms, refined coconut oil production expanded modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a slight shrinkage. The pace of growth was the most pronounced in 2020 when the production volume increased by 18% against the previous year. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Refined Coconut Oil Exports

Exports in Benelux

After two years of growth, shipments abroad of refined coconut (copra) oil decreased by -12.7% to X tons in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 20%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, refined coconut oil exports rose to $X in 2022. Total exports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +73.8% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 48%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands prevails in exports structure, accounting for X tons, which was approx. 98% of total exports in 2022. Belgium (X tons) took a minor share of total exports.

The Netherlands experienced a relatively flat trend pattern with regard to volume of exports of refined coconut (copra) oil. At the same time, Belgium (+14.6%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in Benelux, with a CAGR of +14.6% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest refined coconut oil supplier in Benelux, comprising 98% of total exports. The second position in the ranking was taken by Belgium ($X), with a 2.1% share of total exports.

In the Netherlands, refined coconut oil exports expanded at an average annual rate of +3.0% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Benelux amounted to $X per ton, growing by 19% against the previous year. Export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.4% 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 export price increased by +74.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by 43%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the Netherlands totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.4%).

Refined Coconut Oil Imports

Imports in Benelux

In 2022, approx. X tons of refined coconut (copra) oil were imported in Benelux; declining by -12.9% compared with the previous year. The total import volume increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when imports increased by 25% against the previous year. The volume of import peaked at X tons in 2021, and then fell in the following year.

In value terms, refined coconut oil imports amounted to $X in 2022. Overall, imports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 66% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

Belgium was the major importing country with an import of about X tons, which finished at 72% of total imports. It was distantly followed by the Netherlands (X tons), generating a 28% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to refined coconut oil imports into Belgium stood at +2.4%. At the same time, the Netherlands (+11.6%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in Benelux, with a CAGR of +11.6% from 2012-2022. From 2012 to 2022, the share of the Netherlands increased by +14 percentage points.

In value terms, Belgium ($X) and the Netherlands ($X) appeared to be the countries with the highest levels of imports in 2022.

Among the main importing countries, the Netherlands, with a CAGR of +18.0%, recorded the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

In 2022, the import price in Benelux amounted to $X per ton, picking up by 23% against the previous year. Import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.3% 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 +91.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by 37% against the previous year. Over the period under review, import prices reached the peak figure in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while Belgium amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.7%).

Source: IndexBox Platform