Iran: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in Iran

The Iranian refined coconut oil market fell to $X in 2022, declining by -4% against the previous year. In general, consumption, however, recorded a abrupt slump. The growth pace was the most rapid in 2021 with an increase of 8.6% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Refined Coconut Oil Production in Iran

In value terms, refined coconut oil production fell to $X in 2022 estimated in export price. Overall, production, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2021 with an increase of 14% against the previous year. 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.

Refined Coconut Oil Exports

Exports from Iran

In 2021, shipments abroad of refined coconut (copra) oil increased by 62% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, exports saw a significant increase. The growth pace was the most rapid in 2019 with an increase of 842% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, refined coconut oil exports surged to $X in 2021. In general, exports showed a measured expansion. The growth pace was the most rapid in 2019 with an increase of 872% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Kazakhstan (X kg) was the main destination for refined coconut oil exports from Iran, with a 94% share of total exports. Moreover, refined coconut oil exports to Kazakhstan exceeded the volume sent to the second major destination, Malawi (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Kazakhstan was relatively modest.

In value terms, Kazakhstan ($X) emerged as the key foreign market for refined coconut (copra) oil exports from Iran, comprising 69% of total exports. The second position in the ranking was taken by Malawi ($X), with a 31% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Kazakhstan was relatively modest.

Export Prices by Country

The average refined coconut oil export price stood at $X per ton in 2021, dropping by -21.2% against the previous year. Overall, the export price faced a precipitous descent. The pace of growth appeared the most rapid in 2017 when the average export price increased by 11%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Afghanistan (+6.9%).

Refined Coconut Oil Imports

Imports into Iran

In 2022, purchases abroad of refined coconut (copra) oil was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 64% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, refined coconut oil imports fell to $X in 2022. Over the period under review, imports continue to indicate a temperate expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 116% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest refined coconut oil supplier to Iran, with a 51% share of total imports. Moreover, refined coconut oil imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold. The third position in this ranking was taken by the Philippines (X tons), with a 1.3% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates amounted to +79.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-9.6% per year) and the Philippines (-22.8% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of refined coconut (copra) oil to Iran, comprising 33% of total imports. The second position in the ranking was held by Malaysia ($X), with a 13% share of total imports. It was followed by Singapore, with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates amounted to +71.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-10.3% per year) and Singapore (+4.6% per year).

Import Prices by Country

The average refined coconut oil import price stood at $X per ton in 2022, waning by -13.1% against the previous year. Overall, the import price showed a noticeable curtailment. The pace of growth was the most pronounced in 2021 an increase of 35%. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :