Central Asia: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in Central Asia

The Central Asian refined coconut oil market dropped significantly to $X in 2022, which is down by -26% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then contracted notably in the following year.

Refined Coconut Oil Production in Central Asia

In value terms, refined coconut oil production rose to $X in 2022 estimated in export price. The total production indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +4.8% against 2019 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 40%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Refined Coconut Oil Exports

Exports in Central Asia

Refined coconut oil exports soared to X tons in 2022, growing by 39% on the previous year. Over the period under review, exports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of 267% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, refined coconut oil exports soared to $X in 2022. Overall, exports saw strong growth. The growth pace was the most rapid in 2017 when exports increased by 272% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Kazakhstan represented the key exporter of refined coconut (copra) oil in Central Asia, with the volume of exports reaching X tons, which was approx. 77% of total exports in 2022. It was distantly followed by Uzbekistan (X tons), committing a 23% share of total exports.

Exports from Kazakhstan increased at an average annual rate of +13.0% from 2012 to 2022. At the same time, Uzbekistan (+965.1%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of +965.1% from 2012-2022. While the share of Uzbekistan (+23 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Kazakhstan (-22.5 p.p.) displayed negative dynamics.

In value terms, Kazakhstan ($X) remains the largest refined coconut oil supplier in Central Asia, comprising 92% of total exports. The second position in the ranking was held by Uzbekistan ($X), with a 7.8% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Kazakhstan stood at +12.5%.

Export Prices by Country

In 2022, the export price in Central Asia amounted to $X per ton, growing by 13% against the previous year. In general, the export price, however, continues to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2016 when the export price increased by 23% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (-0.4%).

Refined Coconut Oil Imports

Imports in Central Asia

In 2022, the amount of refined coconut (copra) oil imported in Central Asia reduced to X tons, shrinking by -14.3% on 2021 figures. In general, imports, however, showed a resilient expansion. The growth pace was the most rapid in 2017 with an increase of 181%. The volume of import peaked at X tons in 2021, and then fell in the following year.

In value terms, refined coconut oil imports stood at $X in 2022. Over the period under review, imports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 145% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Uzbekistan (X tons) represented the main importer of refined coconut (copra) oil, comprising 63% of total imports. It was distantly followed by Kyrgyzstan (X tons) and Kazakhstan (X tons), together generating a 31% share of total imports. Mongolia (X tons) and Tajikistan (X tons) held a little share of total imports.

Imports into Uzbekistan increased at an average annual rate of +5.0% from 2012 to 2022. At the same time, Mongolia (+55.8%), Kyrgyzstan (+12.4%) 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 +55.8% from 2012-2022. By contrast, Kazakhstan (-11.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Uzbekistan, Mongolia and Kyrgyzstan increased by +63, +3.5 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Uzbekistan ($X) constitutes the largest market for imported refined coconut (copra) oil in Central Asia, comprising 63% of total imports. The second position in the ranking was held by Kyrgyzstan ($X), with a 24% share of total imports. It was followed by Kazakhstan, with an 8.5% share.

In Uzbekistan, refined coconut oil imports increased at an average annual rate of +17.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kyrgyzstan (+13.9% per year) and Kazakhstan (-9.3% per year).

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2022, surging 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 +1.1% 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 +89.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by 43%. The level of import peaked 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

Frequently Asked Questions (FAQ) :