Colombia: Coconut Market 2024

Coconut Market Size in Colombia

The Colombian coconut market stood at $X in 2022, approximately mirroring the previous year. Over the period under review, consumption continues to indicate a perceptible downturn. Coconut consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Coconut Production in Colombia

In value terms, coconut production stood at $X in 2022 estimated in export price. Overall, production showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 120% against the previous year. Coconut production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

In 2022, the average yield of coconuts in Colombia rose to X tons per ha, picking up by 1.6% against the year before. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 3.8% against the previous year. The coconut yield peaked at X tons per ha in 2016; however, from 2017 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The coconut harvested area in Colombia shrank slightly to X ha in 2022, dropping by -2% against the year before. The harvested area increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 13%. Over the period under review, the harvested area dedicated to coconut production attained the peak figure at X ha in 2021, and then fell modestly in the following year.

Coconut Exports

Exports from Colombia

In 2022, approx. X tons of coconuts were exported from Colombia; picking up by 173% compared with 2021. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 649%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, coconut exports surged to $X in 2022. In general, exports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2017 when exports increased by 1,166%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Curacao (X tons), the Netherlands (X tons) and Canada (X tons) were the main destinations of coconut exports from Colombia, together comprising 57% 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 Curacao (with a CAGR of +189.6%), while the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), the United States ($X) and Curacao ($X) constituted the largest markets for coconut exported from Colombia worldwide, with a combined 47% share of total exports.

Curacao, with a CAGR of +162.9%, 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

The average coconut export price stood at $X per ton in 2022, with a decrease of -22.5% against the previous year. Over the period under review, the export price recorded a deep downturn. The pace of growth appeared the most rapid in 2017 an increase of 69% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat 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 Panama ($X per ton), while the average price for exports to Aruba ($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 the Netherlands (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Coconut Imports

Imports into Colombia

Coconut imports into Colombia fell remarkably to X tons in 2022, with a decrease of -17.6% on 2021 figures. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 184%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, coconut imports expanded significantly to $X in 2022. Over the period under review, imports, however, saw a strong increase. The growth pace was the most rapid in 2013 when imports increased by 174%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Venezuela (X tons) was the main supplier of coconut to Colombia, with a 96% share of total imports. It was followed by Sri Lanka (X tons), with a 2.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Venezuela was relatively modest.

In value terms, Venezuela ($X) constituted the largest supplier of coconuts to Colombia, comprising 81% of total imports. The second position in the ranking was taken by Sri Lanka ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Venezuela amounted to +7.5%.

Import Prices by Country

In 2022, the average coconut import price amounted to $X per ton, jumping by 31% against the previous year. Over the period under review, the import price saw a resilient increase. The pace of growth appeared the most rapid in 2016 when the average import price increased by 48% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while the price for Venezuela stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Venezuela (+7.0%).

Source: IndexBox Platform

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