Indonesia: Coconut Market 2024

Coconut Market Size in Indonesia

The Indonesian coconut market expanded remarkably to $X in 2022, picking up by 5.6% against the previous year. Over the period under review, consumption, however, saw a slight curtailment. Coconut consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Coconut Production in Indonesia

In value terms, coconut production rose slightly to $X in 2022 estimated in export price. In general, production recorded a slight reduction. The pace of growth was the most pronounced in 2017 with an increase of 24%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

In 2022, the average yield of coconuts in Indonesia contracted slightly to X tons per ha, approximately reflecting 2021 figures. In general, the yield continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 3.9%. The coconut yield peaked at X tons per ha in 2012; however, from 2013 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of coconuts production in Indonesia declined slightly to X ha, almost unchanged from 2021 figures. Overall, the harvested area showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the harvested area increased by 2%. Over the period under review, the harvested area dedicated to coconut production attained the maximum at X ha in 2015; however, from 2016 to 2022, the harvested area remained at a lower figure.

Coconut Exports

Exports from Indonesia

In 2022, exports of coconuts from Indonesia fell sharply to X tons, shrinking by -59.8% compared with the previous year. In general, exports, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 81%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, coconut exports contracted significantly to $X in 2022. Over the period under review, exports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2017 when exports increased by 114%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons), Malaysia (X tons) and Thailand (X tons) were the main destinations of coconut exports from Indonesia, together accounting for 90% of total exports. Vietnam lagged somewhat behind, comprising a further 7%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +70.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for coconut exported from Indonesia were China ($X), Malaysia ($X) and Thailand ($X), together accounting for 87% of total exports. These countries were followed by Vietnam, which accounted for a further 6.2%.

Among the main countries of destination, Vietnam, with a CAGR of +76.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average coconut export price amounted to $X per ton, surging by 21% against the previous year. In general, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coconut export price increased by +38.1% against 2017 indices. The most prominent rate of growth was recorded in 2017 an increase of 26%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Thailand ($X per ton) and China ($X per ton), while the average price for exports to Vietnam ($X per ton) and Malaysia ($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 Malaysia (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.

Coconut Imports

Imports into Indonesia

Coconut imports into Indonesia soared to X tons in 2022, growing by 36% against 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 102%. Imports peaked at X tons in 2012; afterwards, it flattened through to 2022.

In value terms, coconut imports rose markedly to $X in 2022. Overall, imports continue to indicate modest growth. The most prominent rate of growth was recorded in 2021 with an increase of 165%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Thailand (X tons) was the main coconut supplier to Indonesia, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand was relatively modest.

In value terms, Thailand ($X) constituted the largest supplier of coconuts to Indonesia.

From 2012 to 2022, the average annual growth rate of value from Thailand stood at +2.8%.

Import Prices by Country

The average coconut import price stood at $X per ton in 2022, which is down by -19.1% against the previous year. Over the period under review, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.3% 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 increased by +29.9% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 49%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Thailand.

From 2012 to 2022, the rate of growth in terms of prices for Singapore amounted to +10.9% per year.

Source: IndexBox Platform

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