Brazil: Crude Coconut Oil Market 2024

Crude Coconut Oil Market Size in Brazil

The Brazilian crude coconut oil market rose significantly to $X in 2022, increasing by 6.9% against the previous year. Overall, consumption saw a remarkable increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Crude Coconut Oil Production in Brazil

In value terms, crude coconut oil production rose rapidly to $X in 2022 estimated in export price. Over the period under review, production showed a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 1,374%. Crude coconut oil production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Crude Coconut Oil Exports

Exports from Brazil

In 2022, overseas shipments of crude coconut (copra) oil decreased by -65.1% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 1,654%. Over the period under review, the exports attained the maximum at X tons in 2021, and then fell dramatically in the following year.

In value terms, crude coconut oil exports shrank dramatically to $X in 2022. Overall, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 2,151%. Over the period under review, the exports hit record highs at $X in 2021, and then contracted significantly in the following year.

Exports by Country

Colombia (X tons), Paraguay (X kg) and Germany (X kg) were the main destinations of crude coconut oil exports from Brazil, together comprising 86% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +252.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for crude coconut oil exported from Brazil were Paraguay ($X), Colombia ($X) and Germany ($X), with a combined 81% share of total exports.

Among the main countries of destination, Germany, with a CAGR of +356.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average crude coconut oil export price stood at $X per ton in 2022, waning by -40.5% against the previous year. In general, the export price, however, continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2013 an increase of 230% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 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 Bolivia ($X per ton), while the average price for exports to Colombia ($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 Germany (+29.6%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Coconut Oil Imports

Imports into Brazil

In 2022, supplies from abroad of crude coconut (copra) oil decreased by -56.7% to X tons, falling for the second consecutive year after two years of growth. In general, imports saw a noticeable downturn. The pace of growth was the most pronounced in 2015 when imports increased by 803% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, crude coconut oil imports shrank notably to $X in 2022. Over the period under review, imports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2015 when imports increased by 657% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the Philippines (X tons) constituted the largest crude coconut oil supplier to Brazil, with a 85% share of total imports. Moreover, crude coconut oil imports from the Philippines exceeded the figures recorded by the second-largest supplier, India (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume from the Philippines amounted to +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-17.8% per year) and Indonesia (-54.9% per year).

In value terms, the Philippines ($X) constituted the largest supplier of crude coconut (copra) oil to Brazil, comprising 86% of total imports. The second position in the ranking was held by India ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the Philippines stood at +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-19.9% per year) and Indonesia (-48.6% per year).

Import Prices by Country

In 2022, the average crude coconut oil import price amounted to $X per ton, declining by -4.1% against the previous year. Over the period under review, the import price continues to indicate a pronounced decline. The pace of growth appeared the most rapid in 2014 when the average import price increased by 111% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+14.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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