Europe: Crude Coconut Oil Market 2024

Crude Coconut Oil Market Size in Europe

In 2022, the Europe crude coconut oil market increased by 24% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in years to come.

Crude Coconut Oil Production in Europe

In value terms, crude coconut oil production expanded 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 2014 when the production volume increased by 20%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Crude Coconut Oil Exports

Exports in Europe

In 2022, the amount of crude coconut (copra) oil exported in Europe skyrocketed to X tons, increasing by 27% against the previous year. Overall, exports posted a prominent increase. The growth pace was the most rapid in 2020 when exports increased by 120% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, crude coconut oil exports declined to $X in 2022. Over the period under review, exports recorded a prominent expansion. The pace of growth appeared the most rapid in 2020 with an increase of 55% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then reduced modestly in the following year.

Exports by Country

The Netherlands prevails in exports structure, recording X tons, which was near 78% of total exports in 2022. Germany (X tons) ranks second in terms of the total exports with an 8.7% share, followed by Slovenia (6.3%).

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 Europe, with a CAGR of +99.4% from 2012-2022. While the share of Slovenia (+6.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the Netherlands (-6.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest crude coconut oil supplier in Europe, comprising 58% of total exports. The second position in the ranking was held by Germany ($X), with a 15% share of total exports.

In the Netherlands, crude coconut oil exports expanded at an average annual rate of +9.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+8.7% per year) and Slovenia (+91.9% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, dropping by -22.4% against the previous year. Overall, the export price, however, recorded perceptible growth. The most prominent rate of growth was recorded in 2018 an increase of 81%. As a result, the export price attained the peak level of $X per ton. 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 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 Europe

Crude coconut oil imports rose notably to X tons in 2022, increasing by 12% against 2021. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 27% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, crude coconut oil imports soared to $X in 2022. Total imports indicated a moderate expansion 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, imports increased by +129.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 71% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

The Netherlands represented the largest importer of crude coconut (copra) oil in Europe, with the volume of imports finishing at X tons, which was near 54% of total imports in 2022. Germany (X tons) took the second position in the ranking, distantly followed by Italy (X tons) and Spain (X tons). All these countries together held near 36% share of total imports. The following importers - France (X tons) and Sweden (X tons) - together made up 5.6% 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 Europe, with a CAGR of +11.0% from 2012-2022. France and Germany experienced a relatively flat trend pattern. While the share of Spain (+3.6 p.p.) and Italy (+2.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the Netherlands (-1.8 p.p.) and Germany (-3.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) constitutes the largest market for imported crude coconut (copra) oil in Europe, comprising 52% of total imports. The second position in the ranking was taken by Germany ($X), with a 21% share of total imports. It was followed by Italy, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the Netherlands amounted to +4.5%. In the other countries, the average annual rates were as follows: Germany (+3.2% per year) and Italy (+7.2% per year).

Import Prices by Country

The import price in Europe stood at $X per ton in 2022, rising by 19% against the previous year. Import price indicated perceptible 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 +104.9% against 2019 indices. The pace of growth was the most pronounced in 2021 when the import price increased by 56% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain 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