Greece: Crude Coconut Oil Market 2025

Crude Coconut Oil Market Size in Greece

In 2022, the Greek crude coconut oil market decreased by -44% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, recorded significant growth. As a result, consumption attained the peak level of $X, and then dropped markedly in the following year.

Crude Coconut Oil Production in Greece

In value terms, crude coconut oil production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when the production volume increased by 52%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Crude Coconut Oil Exports

Exports from Greece

In 2022, shipments abroad of crude coconut (copra) oil increased by 112% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports posted a significant expansion. The growth pace was the most rapid in 2013 with an increase of 3,102% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, crude coconut oil exports surged to $X in 2022. In general, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 2,519%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Sri Lanka (X tons), Romania (X tons) and Bulgaria (X tons) were the main destinations of crude coconut oil exports from Greece, together accounting for 79% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bulgaria (with a CAGR of +58.3%), while the other leaders experienced more modest paces of growth.

In value terms, Sri Lanka ($X) emerged as the key foreign market for crude coconut (copra) oil exports from Greece, comprising 47% of total exports. The second position in the ranking was held by Bulgaria ($X), with an 18% share of total exports. It was followed by Romania, with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sri Lanka was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+38.9% per year) and Romania (+39.2% per year).

Export Prices by Country

The average crude coconut oil export price stood at $X per ton in 2022, surging by 63% against the previous year. Overall, the export price showed a strong expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Romania ($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 Cyprus (+10.0%), while the prices for the other major destinations experienced mixed trend patterns.

Crude Coconut Oil Imports

Imports into Greece

After two years of growth, purchases abroad of crude coconut (copra) oil decreased by -48.3% to X tons in 2022. In general, imports, however, saw a significant increase. The pace of growth was the most pronounced in 2013 when imports increased by 1,501%. Over the period under review, imports attained the peak figure at X tons in 2021, and then plummeted in the following year.

In value terms, crude coconut oil imports declined significantly to $X in 2022. Overall, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 864% against the previous year. As a result, imports reached the peak of $X, and then reduced dramatically in the following year.

Imports by Country

In 2022, the Philippines (X tons) constituted the largest crude coconut oil supplier to Greece, with a 86% share of total imports. Moreover, crude coconut oil imports from the Philippines exceeded the figures recorded by the second-largest supplier, Bulgaria (X tons), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Philippines totaled +130.6%.

In value terms, the Philippines ($X) constituted the largest supplier of crude coconut (copra) oil to Greece, comprising 85% of total imports. The second position in the ranking was taken by Bulgaria ($X), with an 11% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the Philippines stood at +230.8%.

Import Prices by Country

The average crude coconut oil import price stood at $X per ton in 2022, with an increase of 43% against the previous year. Over the period under review, the import price, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when the average import price increased by 259%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($X per ton), while the price for Bulgaria amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+43.4%).

Source: IndexBox Platform

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