Czech Republic: Coconut Oil Market 2024

Coconut Oil Market Size in the Czech Republic

In 2022, the Czech coconut oil market increased by 17% to $X, rising for the third consecutive year after two years of decline. In general, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +35.7% against 2019 indices. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Coconut Oil Exports

Exports from the Czech Republic

In 2022, coconut oil exports from the Czech Republic contracted modestly to X tons, declining by -2.4% on 2021 figures. Overall, exports, however, showed a resilient expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 81%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, coconut oil exports reduced remarkably to $X in 2022. Over the period under review, exports, however, recorded significant growth. The growth pace was the most rapid in 2014 with an increase of 364% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Slovakia (X tons) was the main destination for coconut oil exports from the Czech Republic, with a 56% share of total exports. Moreover, coconut oil exports to Slovakia exceeded the volume sent to the second major destination, Germany (X tons), twofold. The third position in this ranking was taken by Poland (X tons), with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Slovakia amounted to +5.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+107.2% per year) and Poland (+52.3% per year).

In value terms, Slovakia ($X), Germany ($X) and Poland ($X) constituted the largest markets for coconut oil exported from the Czech Republic worldwide, with a combined 89% share of total exports. Austria and Hungary lagged somewhat behind, together accounting for a further 5.6%.

Austria, with a CAGR of +136.2%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the average coconut oil export price amounted to $X per ton, with a decrease of -19.9% against the previous year. Overall, the export price, however, recorded strong growth. The pace of growth was the most pronounced in 2014 when the average export price increased by 156%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Poland ($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 Slovakia (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Coconut Oil Imports

Imports into the Czech Republic

In 2022, supplies from abroad of coconut (copra) oil increased by 11% to X tons, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of +4.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 18% against the previous year. Imports peaked at X tons in 2017; afterwards, it flattened through to 2022.

In value terms, coconut oil imports soared to $X in 2022. Over the period under review, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.4% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of 35% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Germany (X tons), the Netherlands (X tons) and Sweden (X tons) were the main suppliers of coconut oil imports to the Czech Republic, with a combined 72% share of total imports. Italy, Sri Lanka, Poland and the Philippines lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +127.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and Sweden ($X) constituted the largest coconut oil suppliers to the Czech Republic, together accounting for 62% of total imports. Sri Lanka, Italy, the Philippines and Poland lagged somewhat behind, together comprising a further 27%.

Among the main suppliers, Poland, with a CAGR of +142.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average coconut oil import price stood at $X per ton in 2022, surging by 3.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 25%. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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