Germany: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in Germany

In 2022, the German refined coconut oil market increased by 34% to $X, rising for the third consecutive year after two years of decline. In general, consumption saw a measured expansion. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in years to come.

Refined Coconut Oil Production in Germany

In value terms, refined coconut oil production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, showed a abrupt decrease. The growth pace was the most rapid in 2021 when the production volume increased by 46% against the previous year. Refined coconut oil production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Refined Coconut Oil Exports

Exports from Germany

Refined coconut oil exports from Germany shrank to X tons in 2022, remaining relatively unchanged against the previous year. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 51%. 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, refined coconut oil exports expanded sharply to $X in 2022. In general, total exports indicated a perceptible expansion 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. Based on 2022 figures, exports increased by +75.0% against 2020 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 67%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Poland (X tons) was the main destination for refined coconut oil exports from Germany, accounting for a 38% share of total exports. Moreover, refined coconut oil exports to Poland exceeded the volume sent to the second major destination, Italy (X tons), fourfold. The third position in this ranking was taken by the Netherlands (X tons), with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Poland totaled +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+5.9% per year) and the Netherlands (-5.7% per year).

In value terms, Poland ($X) remains the key foreign market for refined coconut (copra) oil exports from Germany, comprising 31% of total exports. The second position in the ranking was taken by Italy ($X), with an 11% share of total exports. It was followed by the Netherlands, with an 8% share.

From 2012 to 2022, the average annual growth rate of value to Poland stood at +7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+10.0% per year) and the Netherlands (-0.6% per year).

Export Prices by Country

The average refined coconut oil export price stood at $X per ton in 2022, growing by 10% against the previous year. Over the period under review, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.5% 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 +41.0% against 2019 indices. The pace of growth appeared the most rapid in 2017 an increase of 27% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Coconut Oil Imports

Imports into Germany

In 2022, purchases abroad of refined coconut (copra) oil increased by 15% to X tons, rising for the seventh year in a row after two years of decline. In general, total imports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.9% 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 +89.9% against 2015 indices. The most prominent rate of growth was recorded in 2016 with an increase of 20% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, refined coconut oil imports skyrocketed to $X in 2022. Overall, imports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 60% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of refined coconut oil to Germany, accounting for a 77% share of total imports. Moreover, refined coconut oil imports from the Netherlands exceeded the figures recorded by the second-largest supplier, the Philippines (X tons), more than tenfold. Indonesia (X tons) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands stood at +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+31.1% per year) and Indonesia (-13.1% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of refined coconut (copra) oil to Germany, comprising 76% of total imports. The second position in the ranking was held by the Philippines ($X), with a 6.5% share of total imports. It was followed by Indonesia, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands stood at +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+28.4% per year) and Indonesia (-11.2% per year).

Import Prices by Country

The average refined coconut oil import price stood at $X per ton in 2022, surging by 16% against the previous year. In general, import price indicated notable growth 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 import price increased by +76.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 46% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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