EU: Coconut Market 2024

Coconut Market Size in the EU

In 2022, after two years of growth, there was significant decline in the EU coconut market, when its value decreased by -14% to $X. The total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Coconut Production in the EU

In value terms, coconut production totaled $X in 2022 estimated in export price. In general, production recorded a temperate increase. The pace of growth was the most pronounced in 2018 with an increase of 228%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were France (X tons) and the Netherlands (X tons).

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by France (with a CAGR of +25.5%).

The average coconut yield rose significantly to X tons per ha in 2022, surging by 14% against 2021. Overall, the yield continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 541%. As a result, the yield reached the peak level of X tons per ha. From 2015 to 2022, the growth of the coconut yield remained at a 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, the harvested area of coconuts in the European Union declined to X ha, stabilizing at 2021. Overall, the harvested area showed a noticeable slump. The most prominent rate of growth was recorded in 2021 when the harvested area increased by 1.8% against the previous year. Over the period under review, the harvested area dedicated to coconut production reached the maximum at X ha in 2013; however, from 2014 to 2022, the harvested area failed to regain momentum.

Coconut Exports

Exports in the EU

In 2022, overseas shipments of coconuts decreased by -17.5% to X tons for the first time since 2018, thus ending a three-year rising trend. Total exports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when exports increased by 106% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, coconut exports reduced dramatically to $X in 2022. Over the period under review, exports, however, recorded a prominent increase. The pace of growth appeared the most rapid in 2013 when exports increased by 60%. The level of export peaked at $X in 2021, and then fell rapidly in the following year.

Exports by Country

The Netherlands was the main exporter of coconuts in the European Union, with the volume of exports reaching X tons, which was near 72% of total exports in 2022. It was distantly followed by Spain (X tons) and France (X tons), together comprising a 21% share of total exports. Germany (X tons) held a relatively small share of total exports.

Exports from the Netherlands increased at an average annual rate of +2.4% from 2012 to 2022. At the same time, France (+7.8%) and Spain (+2.6%) displayed positive paces of growth. Moreover, France emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +7.8% from 2012-2022. By contrast, Germany (-7.0%) illustrated a downward trend over the same period. The Netherlands (+6 p.p.) and France (+2.6 p.p.) significantly strengthened its position in terms of the total exports, while Germany saw its share reduced by -2.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X), Spain ($X) and France ($X) constituted the countries with the highest levels of exports in 2022, together comprising 89% of total exports.

Among the main exporting countries, Spain, with a CAGR of +11.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, with a decrease of -4.7% against the previous year. Export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.9% 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 increased by +75.7% against 2014 indices. The pace of growth was the most pronounced in 2013 when the export price increased by 68% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2021, and then reduced in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+8.5%), while the other leaders experienced more modest paces of growth.

Coconut Imports

Imports in the EU

Coconut imports fell dramatically to X tons in 2022, reducing by -19.8% on the previous year. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 24%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, coconut imports reduced dramatically to $X in 2022. Total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 40%. Over the period under review, imports attained the peak figure at $X in 2021, and then shrank dramatically in the following year.

Imports by Country

The Netherlands represented the main importing country with an import of about X tons, which accounted for 34% of total imports. Spain (X tons) held a 15% share (based on physical terms) of total imports, which put it in second place, followed by Italy (13%), France (12%) and Germany (11%). The Czech Republic (X tons) followed a long way behind the leaders.

The Netherlands experienced a relatively flat trend pattern with regard to volume of imports of coconuts. At the same time, Spain (+13.3%), the Czech Republic (+6.2%) and France (+3.9%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing importer imported in the European Union, with a CAGR of +13.3% from 2012-2022. Germany experienced a relatively flat trend pattern. By contrast, Italy (-1.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Spain and France increased by +11 and +3.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X), Germany ($X) and Spain ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 54% share of total imports.

Among the main importing countries, Spain, with a CAGR of +12.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per ton, waning by -4.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2020 when the import price increased by 14%. Over the period under review, import prices hit record highs at $X per ton in 2021, and then reduced slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the Netherlands ($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 Czech Republic (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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