EU: Crude Coconut Oil Market 2024

Crude Coconut Oil Market Size in the EU

In 2022, the EU crude coconut oil market increased by 26% to $X, rising for the second year in a row after two years of decline. The total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.3% 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 +77.9% against 2020 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Crude Coconut Oil Production in the EU

In value terms, crude coconut oil production contracted slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 30%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Crude Coconut Oil Exports

Exports in the EU

In 2022, approx. X tons of crude coconut (copra) oil were exported in the European Union; jumping by 28% compared with the previous year's figure. Overall, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 123%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, crude coconut oil exports declined slightly to $X in 2022. Over the period under review, exports showed a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 56% against the previous year. The level of export peaked at $X in 2021, and then contracted slightly in the following year.

Exports by Country

The Netherlands prevails in exports structure, resulting at X tons, which was near 79% of total exports in 2022. Germany (X tons) ranks second in terms of the total exports with an 8.8% share, followed by Slovenia (6.4%).

From 2012 to 2022, average annual rates of growth with regard to crude coconut oil exports from the Netherlands stood at +5.4%. At the same time, Slovenia (+99.4%) and Germany (+7.1%) displayed positive paces of growth. Moreover, Slovenia emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +99.4% from 2012-2022. While the share of Slovenia (+6.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the Netherlands (-9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest crude coconut oil supplier in the European Union, comprising 60% of total exports. The second position in the ranking was held by Germany ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the Netherlands amounted to +9.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+8.7% per year) and Slovenia (+91.9% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, falling by -21.8% against the previous year. Overall, the export price, however, continues to indicate moderate growth. The growth pace was the most rapid in 2018 when the export price increased by 85% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the Netherlands ($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 Netherlands (+4.1%), while the other leaders experienced mixed trends in the export price figures.

Crude Coconut Oil Imports

Imports in the EU

In 2022, the amount of crude coconut (copra) oil imported in the European Union amounted to X tons, growing by 14% compared with 2021. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 28%. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, crude coconut oil imports skyrocketed to $X in 2022. Total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +136.2% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 73% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The Netherlands was the major importing country with an import of around X tons, which resulted at 56% of total imports. Germany (X tons) took a 21% share (based on physical terms) of total imports, which put it in second place, followed by Italy (8.9%) and Spain (6.7%). The following importers - France (X tons) and Sweden (X tons) - together made up 5.7% of total imports.

The Netherlands experienced a relatively flat trend pattern with regard to volume of imports of crude coconut (copra) oil. At the same time, Sweden (+11.0%), Spain (+9.0%) and Italy (+3.7%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing importer imported in the European Union, with a CAGR of +11.0% from 2012-2022. France and Germany experienced a relatively flat trend pattern. Spain (+3.6 p.p.) and Italy (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while the Netherlands and Germany saw its share reduced by -3.4% and -3.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) constitutes the largest market for imported crude coconut (copra) oil in the European Union, comprising 54% of total imports. The second position in the ranking was taken by Germany ($X), with a 21% share of total imports. It was followed by Italy, with an 8.9% share.

In the Netherlands, crude coconut oil imports expanded at an average annual rate of +4.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+3.2% per year) and Italy (+7.2% per year).

Import Prices by Country

The import price in the European Union stood at $X per ton in 2022, rising by 20% against the previous year. Import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude coconut oil import price increased by +108.9% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by 59% against the previous year. Over the period under review, import prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Sweden ($X per ton) and Germany ($X per ton), while the Netherlands ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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