Egypt: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in Egypt

After two years of decline, the Egyptian refined coconut oil market increased by 0.2% to $X in 2022. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Refined Coconut Oil Production in Egypt

In value terms, refined coconut oil production reduced slightly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 36% against the previous year. Refined coconut oil production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Refined Coconut Oil Exports

Exports from Egypt

In 2022, the amount of refined coconut (copra) oil exported from Egypt shrank notably to X tons, dropping by -47.6% on the year before. Overall, exports showed a sharp shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 1,957% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined coconut oil exports contracted remarkably to $X in 2022. In general, exports recorded a precipitous shrinkage. The pace of growth appeared the most rapid in 2021 when exports increased by 625% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for refined coconut oil exports from Egypt, accounting for a 92% share of total exports. Moreover, refined coconut oil exports to the United States exceeded the volume sent to the second major destination, Montenegro (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States was relatively modest.

In value terms, the United States ($X) emerged as the key foreign market for refined coconut (copra) oil exports from Egypt, comprising 76% of total exports. The second position in the ranking was held by Montenegro ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest.

Export Prices by Country

In 2022, the average refined coconut oil export price amounted to $X per ton, growing by 8.5% against the previous year. Over the period under review, the export price, however, showed a deep setback. The most prominent rate of growth was recorded in 2017 an increase of 59% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Montenegro ($X per ton), while the average price for exports to the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Montenegro (+28.2%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Coconut Oil Imports

Imports into Egypt

In 2022, after three years of decline, there was significant growth in overseas purchases of refined coconut (copra) oil, when their volume increased by 12% to X tons. Over the period under review, imports saw a pronounced expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 117%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, refined coconut oil imports soared to $X in 2022. Overall, imports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2013 with an increase of 92%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of refined coconut oil to Egypt, with a 63% share of total imports. Moreover, refined coconut oil imports from Malaysia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), twofold. Mozambique (X tons) ranked third in terms of total imports with a 6.9% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia totaled +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+5.4% per year) and Mozambique (-77.7% per year).

In value terms, Malaysia ($X) constituted the largest supplier of refined coconut (copra) oil to Egypt, comprising 63% of total imports. The second position in the ranking was held by Indonesia ($X), with a 29% share of total imports. It was followed by Mozambique, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia amounted to +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+7.6% per year) and Mozambique (-73.3% per year).

Import Prices by Country

In 2022, the average refined coconut oil import price amounted to $X per ton, growing by 20% against the previous year. Overall, import price indicated a noticeable expansion 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 +165.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 49%. The import price peaked in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from India ($X per ton) and Indonesia ($X per ton), while the price for Mozambique ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mozambique (+19.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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