Central Asia: Coconut Oil Market 2024

Coconut Oil Exports

Exports in Central Asia

In 2022, exports of coconut (copra) oil in Central Asia soared to X tons, jumping by 43% against the previous year's figure. Overall, exports enjoyed a notable increase. The most prominent rate of growth was recorded in 2021 with an increase of 262%. The volume of export peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, coconut oil exports soared to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 190% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Kazakhstan represented the largest exporter of coconut (copra) oil in Central Asia, with the volume of exports amounting to X tons, which was approx. 75% of total exports in 2022. It was distantly followed by Uzbekistan (X tons), mixing up a 25% share of total exports.

Kazakhstan experienced a relatively flat trend pattern with regard to volume of exports of coconut (copra) oil. At the same time, Uzbekistan (+1,083.2%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of +1,083.2% from 2012-2022. From 2012 to 2022, the share of Uzbekistan increased by +25 percentage points.

In value terms, Kazakhstan ($X) remains the largest coconut oil supplier in Central Asia, comprising 91% of total exports. The second position in the ranking was taken by Uzbekistan ($X), with a 9.2% share of total exports.

In Kazakhstan, coconut oil exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2022, increasing by 11% against the previous year. Over the period under review, the export price, however, saw a slight descent. The pace of growth appeared the most rapid in 2017 an increase of 40%. Over the period under review, the export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Uzbekistan amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+0.2%).

Coconut Oil Imports

Imports in Central Asia

In 2022, approx. X tons of coconut (copra) oil were imported in Central Asia; shrinking by -14.3% against 2021 figures. Over the period under review, imports, however, recorded buoyant growth. The pace of growth was the most pronounced in 2017 with an increase of 165%. Over the period under review, imports reached the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, coconut oil imports expanded slightly to $X in 2022. Overall, imports, however, enjoyed prominent growth. The growth pace was the most rapid in 2017 with an increase of 137% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Uzbekistan represented the main importer of coconut (copra) oil in Central Asia, with the volume of imports resulting at X tons, which was approx. 62% of total imports in 2022. Kyrgyzstan (X tons) took a 23% share (based on physical terms) of total imports, which put it in second place, followed by Kazakhstan (7.5%). The following importers - Mongolia (X tons) and Tajikistan (X tons) - together made up 5.7% of total imports.

From 2012 to 2022, average annual rates of growth with regard to coconut oil imports into Uzbekistan stood at +5.0%. At the same time, Mongolia (+11.2%), Kyrgyzstan (+9.7%) and Tajikistan (+7.0%) displayed positive paces of growth. Moreover, Mongolia emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +11.2% from 2012-2022. By contrast, Kazakhstan (-11.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Uzbekistan increased by +62 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Uzbekistan ($X) constitutes the largest market for imported coconut (copra) oil in Central Asia, comprising 62% of total imports. The second position in the ranking was held by Kyrgyzstan ($X), with a 24% share of total imports. It was followed by Kazakhstan, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value in Uzbekistan amounted to +17.0%. In the other countries, the average annual rates were as follows: Kyrgyzstan (+11.1% per year) and Kazakhstan (-9.0% per year).

Import Prices by Country

In 2022, the import price in Central Asia amounted to $X per ton, increasing by 19% against the previous year. Import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coconut oil import price increased by +88.4% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of 40% against the previous year. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Kazakhstan ($X per ton), while Tajikistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+11.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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