Hungary: Coconut Market 2024

Coconut Market Size in Hungary

The Hungarian coconut market shrank notably to $X in 2022, declining by -36.7% against the previous year. In general, consumption, however, posted a strong increase. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Coconut Production in Hungary

In value terms, coconut production totaled $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with a decrease of 99.9% against the previous year. Coconut production peaked in 2022 and is expected to retain growth in the immediate term.

The average yield of coconuts in Hungary amounted to less than X kg per ha in 2022, approximately mirroring 2021 figures. Overall, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of coconuts were harvested in Hungary; remaining relatively unchanged against 2021 figures. Over the period under review, the harvested area saw a relatively flat trend pattern.

Coconut Exports

Exports from Hungary

In 2022, shipments abroad of coconuts decreased by -61.2% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 112% against the previous year. The exports peaked at X tons in 2021, and then dropped sharply in the following year.

In value terms, coconut exports reduced rapidly to $X in 2022. In general, exports, however, recorded modest growth. The pace of growth was the most pronounced in 2019 with an increase of 90% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then dropped dramatically in the following year.

Exports by Country

Romania (X tons), Bulgaria (X tons) and Croatia (X tons) were the main destinations of coconut exports from Hungary, with a combined 97% share 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 +18.2%), while the other leaders experienced a decline.

In value terms, the largest markets for coconut exported from Hungary were Romania ($X), Bulgaria ($X) and Croatia ($X), together accounting for 85% of total exports.

Bulgaria, with a CAGR of +13.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average coconut export price stood at $X per ton in 2022, jumping by 29% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2016 when the average export price increased by 46%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Croatia ($X per ton), while the average price for exports to Bulgaria ($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 Croatia (+8.9%), while the prices for the other major destinations experienced mixed trend patterns.

Coconut Imports

Imports into Hungary

In 2022, supplies from abroad of coconuts decreased by -36.5% to X tons, falling for the second consecutive year after two years of growth. Overall, imports, however, enjoyed mild growth. The pace of growth appeared the most rapid in 2014 with an increase of 35%. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, coconut imports shrank sharply to $X in 2022. Over the period under review, imports, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2016 when imports increased by 79%. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of coconut to Hungary, with a 68% share of total imports. Moreover, coconut imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Austria (X tons) ranked third in terms of total imports with a 3.3% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands totaled -2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+56.5% per year) and Austria (+18.9% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of coconuts to Hungary, comprising 60% of total imports. The second position in the ranking was taken by Germany ($X), with a 20% share of total imports. It was followed by the Czech Republic, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands stood at +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+24.6% per year) and the Czech Republic (+34.1% per year).

Import Prices by Country

In 2022, the average coconut import price amounted to $X per ton, approximately reflecting the previous year. In general, import price indicated a tangible 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 import price decreased by -6.0% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the average import price increased by 33% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while the price for Germany ($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 (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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