Eastern Europe: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in Eastern Europe

In 2022, the East European refined coconut oil market decreased by -7.5% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 7.2% against the previous year. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Refined Coconut Oil Production in Eastern Europe

In value terms, refined coconut oil production expanded modestly to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 11%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Refined Coconut Oil Exports

Exports in Eastern Europe

In 2022, after three years of growth, there was significant decline in overseas shipments of refined coconut (copra) oil, when their volume decreased by -29.9% to X tons. Over the period under review, exports, however, enjoyed resilient growth. The growth pace was the most rapid in 2019 when exports increased by 146% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then contracted markedly in the following year.

In value terms, refined coconut oil exports fell sharply to $X in 2022. Overall, exports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 126% against the previous year. As a result, the exports reached the peak of $X, and then fell sharply in the following year.

Exports by Country

Russia represented the main exporter of refined coconut (copra) oil in Eastern Europe, with the volume of exports accounting for X tons, which was near 53% of total exports in 2022. It was distantly followed by Poland (X tons), comprising a 34% share of total exports. The Czech Republic (X tons), Bulgaria (X tons), Lithuania (X tons), Slovakia (X tons) and Ukraine (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Slovakia (with a CAGR of +74.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest refined coconut oil supplying countries in Eastern Europe were Russia ($X), Poland ($X) and the Czech Republic ($X), together comprising 86% of total exports. Lithuania, Bulgaria, Slovakia and Ukraine lagged somewhat behind, together accounting for a further 11%.

Slovakia, with a CAGR of +78.4%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, reducing by -5.8% against the previous year. Export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.9% 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 export price increased by +44.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by 45%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+10.5%), while the other leaders experienced more modest paces of growth.

Refined Coconut Oil Imports

Imports in Eastern Europe

In 2022, purchases abroad of refined coconut (copra) oil increased by 4.5% to X tons, rising for the fourth year in a row after three years of decline. The total import volume increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when imports increased by 18% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, refined coconut oil imports rose sharply to $X in 2022. Total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 +98.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 61%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Russia (X tons) and Poland (X tons) dominates imports structure, together creating 75% of total imports. It was distantly followed by Ukraine (X tons), constituting a 5.4% share of total imports. Hungary (X tons), Romania (X tons), the Czech Republic (X tons) and Belarus (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Belarus (with a CAGR of +4.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refined coconut oil importing markets in Eastern Europe were Poland ($X), Russia ($X) and Ukraine ($X), with a combined 76% share of total imports. Hungary, Romania, Belarus and the Czech Republic lagged somewhat behind, together accounting for a further 18%.

Belarus, with a CAGR of +7.5%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, picking up by 6.7% against the previous year. Import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.0% 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 +63.7% against 2019 indices. The growth pace was the most rapid in 2021 an increase of 46% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2017; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Belarus ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+3.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :