Croatia: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in Croatia

The Croatian refined coconut oil market rose remarkably to $X in 2022, with an increase of 7.1% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Refined coconut oil consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Refined Coconut Oil Production in Croatia

In value terms, refined coconut oil production stood at $X in 2022 estimated in export price. In general, the total production indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 +29.8% against 2019 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 44% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Refined Coconut Oil Exports

Exports from Croatia

In 2022, after three years of growth, there was significant decline in overseas shipments of refined coconut (copra) oil, when their volume decreased by -70.6% to X tons. In general, exports, however, showed a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 3,562% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then fell dramatically in the following year.

In value terms, refined coconut oil exports fell significantly to $X in 2022. Over the period under review, exports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 1,310%. Over the period under review, the exports attained the peak figure at $X in 2021, and then fell remarkably in the following year.

Exports by Country

Slovenia (X tons), Austria (X tons) and Serbia (X tons) were the main destinations of refined coconut oil exports from Croatia, with a combined 78% share of total exports. Hungary, Bosnia and Herzegovina, Montenegro and Romania lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +217.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), Slovenia ($X) and Hungary ($X) constituted the largest markets for refined coconut oil exported from Croatia worldwide, together accounting for 75% of total exports.

Hungary, with a CAGR of +138.1%, 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 refined coconut oil export price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. In general, the export price showed a perceptible downturn. The most prominent rate of growth was recorded in 2018 when the average export price increased by 385%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Romania ($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 Slovenia (+8.6%), while the prices for the other major destinations experienced a decline.

Refined Coconut Oil Imports

Imports into Croatia

In 2022, approx. X tons of refined coconut (copra) oil were imported into Croatia; dropping by -3.6% compared with 2021. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 20%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, refined coconut oil imports contracted modestly to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 65% against the previous year. As a result, imports reached the peak of $X, and then declined modestly in the following year.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest refined coconut oil supplier to Croatia, accounting for a 72% share of total imports. Moreover, refined coconut oil imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Italy (X tons), sevenfold. Indonesia (X tons) ranked third in terms of total imports with a 4% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands totaled +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-17.0% per year) and Indonesia (+332.4% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of refined coconut (copra) oil to Croatia, comprising 62% of total imports. The second position in the ranking was taken by Italy ($X), with a 15% share of total imports. It was followed by Sweden, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands stood at +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-12.9% per year) and Sweden (+10.9% per year).

Import Prices by Country

In 2022, the average refined coconut oil import price amounted to $X per ton, picking up by 2% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2021 when the average import price increased by 54%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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