Brazil: Coconut Market 2024

Coconut Market Size in Brazil

The Brazilian coconut market totaled $X in 2022, standing approx. at the previous year. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Coconut Production in Brazil

In value terms, coconut production stood at $X in 2022 estimated in export price. Over the period under review, the total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.3% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 84% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

In 2022, the average coconut yield in Brazil dropped to X tons per ha, leveling off at the previous year. The yield figure increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 12%. The coconut yield peaked at X tons per ha in 2021, and then fell in the following year. 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 Brazil; approximately equating 2021. Over the period under review, the harvested area, however, recorded a pronounced downturn. Over the period under review, the harvested area dedicated to coconut production attained the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Coconut Exports

Exports from Brazil

In 2022, approx. X tons of coconuts were exported from Brazil; declining by -34% on the previous year's figure. Over the period under review, exports, however, recorded a significant increase. The pace of growth was the most pronounced in 2014 when exports increased by 1,929%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, coconut exports dropped markedly to $X in 2022. In general, exports, however, saw significant growth. The growth pace was the most rapid in 2014 when exports increased by 1,861%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Argentina (X tons) was the main destination for coconut exports from Brazil, accounting for a 35% share of total exports. Moreover, coconut exports to Argentina exceeded the volume sent to the second major destination, Egypt (X tons), twofold. Paraguay (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Argentina totaled +28.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+10.0% per year) and Paraguay (+111.7% per year).

In value terms, Argentina ($X) remains the key foreign market for coconuts exports from Brazil, comprising 41% of total exports. The second position in the ranking was held by Paraguay ($X), with a 14% share of total exports. It was followed by Egypt, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value to Argentina stood at +17.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+115.4% per year) and Egypt (+16.4% per year).

Export Prices by Country

In 2022, the average coconut export price amounted to $X per ton, picking up by 10% against the previous year. Over the period under review, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coconut export price increased by +14.3% against 2017 indices. The most prominent rate of growth was recorded in 2017 an increase of 78% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

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 Uruguay ($X per ton), while the average price for exports to Egypt ($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 Turkey (+16.2%), while the prices for the other major destinations experienced more modest paces of growth.

Coconut Imports

Imports into Brazil

In 2022, purchases abroad of coconuts was finally on the rise to reach X tons after three years of decline. In general, imports recorded perceptible growth. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, coconut imports skyrocketed to $X in 2022. Over the period under review, imports recorded buoyant growth. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest supplier of coconut to Brazil, with a 74% share of total imports. Moreover, coconut imports from Indonesia exceeded the figures recorded by the second-largest supplier, Sri Lanka (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia totaled +18.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (-4.3% per year) and the Philippines (+7.1% per year).

In value terms, Indonesia ($X), Sri Lanka ($X) and the Philippines ($X) were the largest coconut suppliers to Brazil.

In terms of the main suppliers, Indonesia, with a CAGR of +18.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average coconut import price stood at $X per ton in 2022, growing by 5% against the previous year. In general, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coconut import price increased by +23.9% against 2020 indices. The pace of growth was the most pronounced in 2017 an increase of 36% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 the Philippines ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+17.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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