EU: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in the EU

In 2022, the EU refined coconut oil market increased by 4.6% to $X, rising for the third consecutive year after two years of decline. Overall, consumption recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 4.9%. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Refined Coconut Oil Production in the EU

In value terms, refined coconut oil production rose slightly to $X in 2022 estimated in export price. Over the period under review, production saw a slight decline. The growth pace was the most rapid in 2017 with an increase of 7.8%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Refined Coconut Oil Exports

Exports in the EU

In 2022, after two years of growth, there was significant decline in overseas shipments of refined coconut (copra) oil, when their volume decreased by -8.6% to X tons. The total export volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 19% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then reduced in the following year.

In value terms, refined coconut oil exports expanded markedly to $X in 2022. Total exports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +76.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 48% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands dominates exports structure, reaching X tons, which was near 74% of total exports in 2022. It was distantly followed by Germany (X tons), Spain (X tons) and Italy (X tons), together committing an 18% share of total exports. France (X tons) and Sweden (X tons) held a minor share of total exports.

The Netherlands experienced a relatively flat trend pattern with regard to volume of exports of refined coconut (copra) oil. At the same time, Sweden (+18.7%), Spain (+12.3%), Italy (+9.9%) and France (+6.6%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +18.7% from 2012-2022. Germany experienced a relatively flat trend pattern. Spain (+3.8 p.p.), Italy (+3 p.p.) and Sweden (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while the Netherlands saw its share reduced by -11.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest refined coconut oil supplier in the European Union, comprising 71% of total exports. The second position in the ranking was held by Germany ($X), with a 6.7% share of total exports. It was followed by Spain, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the Netherlands amounted to +3.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+3.4% per year) and Spain (+17.6% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, rising by 18% against the previous year. Export price indicated a measured increase from 2012 to 2022: its price 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, refined coconut oil export price increased by +73.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by 43%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.5%), while the other leaders experienced more modest paces of growth.

Refined Coconut Oil Imports

Imports in the EU

In 2022, approx. X tons of refined coconut (copra) oil were imported in the European Union; growing by 7.5% on 2021 figures. The total import volume increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 15% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, refined coconut oil imports surged to $X in 2022. Overall, imports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by 49%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Germany (X tons), distantly followed by Belgium (X tons), Poland (X tons), Italy (X tons), France (X tons), the Netherlands (X tons) and Greece (X tons) represented the main importers of refined coconut (copra) oil, together creating 82% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Greece (with a CAGR of +23.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest refined coconut oil importing markets in the European Union were Germany ($X), Belgium ($X) and Poland ($X), together comprising 50% of total imports. Italy, France, the Netherlands and Greece lagged somewhat behind, together comprising a further 31%.

In terms of the main importing countries, Greece, with a CAGR of +25.6%, saw 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

The import price in the European Union stood at $X per ton in 2022, picking up by 19% against the previous year. Import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +3.8% 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 +74.2% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of 38%. Over the period under review, import prices hit record highs in 2022 and is likely to continue growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in the Netherlands ($X per ton) and France ($X per ton), while Greece ($X per ton) and Poland ($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 (+5.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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