Brazil: Coconut Oil Market 2024

Coconut Oil Market Size in Brazil

The Brazilian coconut oil market reduced to $X in 2022, which is down by -6.5% against the previous year. Over the period under review, consumption, however, showed strong growth. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Coconut Oil Production in Brazil

In value terms, coconut oil production fell to $X in 2022 estimated in export price. Overall, production posted a remarkable increase. The pace of growth appeared the most rapid in 2017 when the production volume increased by 1,089% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Coconut Oil Exports

Exports from Brazil

In 2022, overseas shipments of coconut (copra) oil decreased by -65.1% to X tons, falling for the second consecutive year after two years of growth. Overall, exports saw a mild slump. The pace of growth appeared the most rapid in 2016 with an increase of 573% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, coconut oil exports declined rapidly to $X in 2022. In general, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 590%. Over the period under review, the exports reached the peak figure at $X in 2021, and then declined remarkably in the following year.

Exports by Country

Angola (X tons), Paraguay (X tons) and Colombia (X tons) were the main destinations of coconut oil exports from Brazil, with a combined 72% share of total exports. Cabo Verde, Uruguay, the United States and Argentina lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cabo Verde (with a CAGR of +88.0%), while the other leaders experienced more modest paces of growth.

In value terms, Angola ($X), Paraguay ($X) and Cabo Verde ($X) were the largest markets for coconut oil exported from Brazil worldwide, together comprising 71% of total exports.

Cabo Verde, with a CAGR of +94.4%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average coconut oil export price amounted to $X per ton, picking up by 49% against the previous year. Overall, the export price saw a remarkable increase. The most prominent rate of growth was recorded in 2013 an increase of 152% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Cabo Verde ($X per ton), while the average price for exports to Argentina ($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 Angola (+17.2%), while the prices for the other major destinations experienced more modest paces of growth.

Coconut Oil Imports

Imports into Brazil

In 2022, supplies from abroad of coconut (copra) oil decreased by -32.2% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, recorded a strong expansion. The pace of growth was the most pronounced in 2015 with an increase of 262% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, coconut oil imports dropped notably to $X in 2022. Overall, imports, however, posted modest growth. The most prominent rate of growth was recorded in 2015 when imports increased by 333%. Over the period under review, imports hit record highs at $X in 2021, and then declined rapidly in the following year.

Imports by Country

Indonesia (X tons), Uruguay (X tons) and the Philippines (X tons) were the main suppliers of coconut oil imports to Brazil, with a combined 86% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +231.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Uruguay ($X) and the Philippines ($X) appeared to be the largest coconut oil suppliers to Brazil, together accounting for 80% of total imports.

Indonesia, with a CAGR of +259.2%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average coconut oil import price amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the import price, however, showed a pronounced descent. The pace of growth was the most pronounced in 2021 an increase of 29%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from India ($X per ton) and the Netherlands ($X per ton), while the price for Sweden ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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