Eastern Asia: Coconut Market 2024

Coconut Market Size in Eastern Asia

The East Asian coconut market soared to $X in 2022, picking up by 17% against the previous year. In general, consumption continues to indicate a resilient increase. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in the immediate term.

Coconut Production in Eastern Asia

In value terms, coconut production dropped to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the production volume increased by 85%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

China (X tons) constituted the country with the largest volume of coconut production, comprising approx. 96% of total volume. Moreover, coconut production in China exceeded the figures recorded by the second-largest producer, Taiwan (Chinese) (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume in China totaled +5.0%.

In 2022, the average yield of coconuts in Eastern Asia was estimated at X tons per ha, therefore, remained relatively stable against the year before. The yield figure increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the yield increased by 48%. As a result, the yield attained the peak level of X tons per ha. From 2015 to 2022, the growth of the coconut yield remained 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.

In 2022, approx. X ha of coconuts were harvested in Eastern Asia; remaining relatively unchanged against the previous year's figure. The harvested area increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 12% against the previous year. The level of harvested area peaked at X ha in 2020; however, from 2021 to 2022, the harvested area stood at a somewhat lower figure.

Coconut Exports

Exports in Eastern Asia

In 2022, overseas shipments of coconuts decreased by -63.3% to X tons, falling for the fourth year in a row after seven years of growth. Overall, exports, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 159%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, coconut exports fell sharply to $X in 2022. Over the period under review, exports, however, posted buoyant growth. The pace of growth was the most pronounced in 2015 when exports increased by 237%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Hong Kong SAR dominates exports structure, finishing at X tons, which was near 84% of total exports in 2022. It was distantly followed by China (X tons) and Taiwan (Chinese) (X tons), together generating a 16% share of total exports.

Exports from Hong Kong SAR increased at an average annual rate of +9.0% from 2012 to 2022. At the same time, China (+23.6%) and Taiwan (Chinese) (+20.8%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +23.6% from 2012-2022. While the share of China (+6.2 p.p.) and Taiwan (Chinese) (+4.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Hong Kong SAR (-10 p.p.) displayed negative dynamics.

In value terms, Hong Kong SAR ($X) remains the largest coconut supplier in Eastern Asia, comprising 80% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Hong Kong SAR totaled +10.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+22.6% per year) and China (+26.4% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, growing by 29% against the previous year. Export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coconut export price decreased by -4.1% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the export price increased by 35% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.2%), while the other leaders experienced more modest paces of growth.

Coconut Imports

Imports in Eastern Asia

In 2022, coconut imports in Eastern Asia soared to X tons, with an increase of 22% against 2021. Over the period under review, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 58%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, coconut imports soared to $X in 2022. Overall, imports saw a significant expansion. The growth pace was the most rapid in 2014 with an increase of 70%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X tons) represented roughly 98% of total imports in 2022.

China was also the fastest-growing in terms of the coconuts imports, with a CAGR of +19.7% from 2012 to 2022. While the share of China (+4.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported coconuts in Eastern Asia.

From 2012 to 2022, the average annual growth rate of value in China amounted to +24.4%.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, rising by 2.3% against the previous year. Over the last decade, it increased at an average annual rate of +3.8%. The pace of growth was the most pronounced in 2021 when the import price increased by 9.7%. The level of import peaked in 2022 and is expected to retain growth in the near future.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +4.0% per year.

Source: IndexBox Platform

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