Czech Republic: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in the Czech Republic

The Czech refined coconut oil market expanded sharply to $X in 2022, picking up by 8% against the previous year. Overall, the total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.3% against 2020 indices. Refined coconut oil consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Refined Coconut Oil Production in the Czech Republic

In value terms, refined coconut oil production expanded notably to $X in 2022 estimated in export price. Overall, the total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.6% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 42%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Refined Coconut Oil Exports

Exports from the Czech Republic

Refined coconut oil exports from the Czech Republic reduced notably to X tons in 2022, waning by -19.4% against the year before. In general, exports, however, showed a mild expansion. The growth pace was the most rapid in 2021 with an increase of 159% against the previous year. As a result, the exports attained the peak of X tons, and then declined remarkably in the following year.

In value terms, refined coconut oil exports dropped to $X in 2022. Over the period under review, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 98%. Over the period under review, the exports attained the maximum at $X in 2021, and then dropped in the following year.

Exports by Country

Slovakia (X tons) was the main destination for refined coconut oil exports from the Czech Republic, with a 68% share of total exports. Moreover, refined coconut oil exports to Slovakia exceeded the volume sent to the second major destination, Poland (X tons), fivefold. Hungary (X tons) ranked third in terms of total exports with a 7.2% share.

From 2012 to 2022, the average annual growth rate of volume to Slovakia amounted to -1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+102.1% per year) and Hungary (+2.5% per year).

In value terms, Slovakia ($X) remains the key foreign market for refined coconut (copra) oil exports from the Czech Republic, comprising 63% of total exports. The second position in the ranking was held by Germany ($X), with a 16% share of total exports. It was followed by Poland, with a 9% share.

From 2012 to 2022, the average annual growth rate of value to Slovakia totaled +9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+263.9% per year) and Poland (+86.6% per year).

Export Prices by Country

In 2022, the average refined coconut oil export price amounted to $X per ton, surging by 7.3% against the previous year. Over the period under review, the export price showed a remarkable increase. The pace of growth appeared the most rapid in 2018 an increase of 105%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a 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 Germany ($X per ton), while the average price for exports to Poland ($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 Germany (+21.8%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Coconut Oil Imports

Imports into the Czech Republic

In 2022, purchases abroad of refined coconut (copra) oil increased by 14% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 16% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, refined coconut oil imports skyrocketed to $X in 2022. In general, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2017 when imports increased by 41% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Germany (X tons), the Netherlands (X tons) and Sweden (X tons) were the main suppliers of refined coconut oil imports to the Czech Republic, together accounting for 80% of total imports. Italy, Poland, Thailand and Slovakia lagged somewhat behind, together accounting for a further 17%.

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 +127.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest refined coconut oil suppliers to the Czech Republic were Germany ($X), the Netherlands ($X) and Sweden ($X), together accounting for 75% of total imports. Italy, Poland, Thailand and Slovakia lagged somewhat behind, together accounting for a further 19%.

Poland, with a CAGR of +141.9%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average refined coconut oil import price amounted to $X per ton, surging by 17% against the previous year. Over the period under review, import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +2.4% 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 +58.9% against 2019 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by 27% against the previous year. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Germany ($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 (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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