India: Crude Coconut Oil Market 2024

Crude Coconut Oil Market Size in India

The Indian crude coconut oil market shrank to $X in 2022, waning by -5.1% against the previous year. Over the period under review, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -9.0% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Crude Coconut Oil Production in India

In value terms, crude coconut oil production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production, however, posted a temperate expansion. The pace of growth appeared the most rapid in 2019 with an increase of 94%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Crude Coconut Oil Exports

Exports from India

In 2022, shipments abroad of crude coconut (copra) oil increased by 2,584% to X tons, rising for the third year in a row after three years of decline. Overall, exports enjoyed a significant increase. The growth pace was the most rapid in 2016 with an increase of 21,484%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, crude coconut oil exports soared to $X in 2022. Over the period under review, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 8,441%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

The Netherlands (X tons), Malaysia (X tons) and Sri Lanka (X tons) were the main destinations of crude coconut oil exports from India, with a combined 77% 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 the Netherlands (with a CAGR of +360.1%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Sri Lanka ($X) and Malaysia ($X) constituted the largest markets for crude coconut oil exported from India worldwide, with a combined 76% share of total exports.

The Netherlands, with a CAGR of +343.0%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average crude coconut oil export price stood at $X per ton in 2022, shrinking by -45.1% against the previous year. Over the period under review, the export price showed a deep reduction. The most prominent rate of growth was recorded in 2018 an increase of 85%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Sri Lanka ($X per ton) and the Netherlands ($X per ton), while the average price for exports to Malaysia ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Coconut Oil Imports

Imports into India

In 2022, supplies from abroad of crude coconut (copra) oil decreased by -34.9% to X tons, falling for the second year in a row after three years of growth. Overall, imports recorded a sharp decline. The growth pace was the most rapid in 2020 when imports increased by 751,641% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, crude coconut oil imports reduced markedly to $X in 2022. In general, imports recorded a sharp decrease. The most prominent rate of growth was recorded in 2020 when imports increased by 35,869%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Sri Lanka (X tons) and the Philippines (X tons) were the main suppliers of crude coconut oil imports to India.

From 2014 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sri Lanka (with a CAGR of +3,069.7%).

In value terms, the Philippines ($X) and Sri Lanka ($X) were the largest crude coconut oil suppliers to India.

Among the main suppliers, Sri Lanka, with a CAGR of +1,770.6%, saw the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

In 2022, the average crude coconut oil import price amounted to $X per ton, growing by 17% against the previous year. Over the period under review, the import price showed prominent growth. The pace of growth was the most pronounced in 2021 an increase of 66%. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 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 Sri Lanka stood at $X per ton.

From 2014 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+32.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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