Italy: Crude Coconut Oil Market 2024

Crude Coconut Oil Market Size in Italy

For the third consecutive year, the Italian crude coconut oil market recorded growth in sales value, which increased by 27% to $X in 2022. In general, consumption continues to indicate a buoyant expansion. Crude coconut oil consumption peaked in 2022 and is expected to retain growth in the near future.

Crude Coconut Oil Production in Italy

In value terms, crude coconut oil production reduced to $X in 2022 estimated in export price. Overall, production, however, showed resilient growth. The growth pace was the most rapid in 2014 when the production volume increased by 267%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Crude Coconut Oil Exports

Exports from Italy

In 2022, overseas shipments of crude coconut (copra) oil increased by 6.5% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, exports continue to indicate a tangible increase. The pace of growth was the most pronounced in 2017 when exports increased by 100%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, crude coconut oil exports soared to $X in 2022. In general, exports showed resilient growth. The growth pace was the most rapid in 2014 with an increase of 133% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

The United States (X tons), the UK (X tons) and Germany (X tons) were the main destinations of crude coconut oil exports from Italy, together accounting for 86% 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 UK (with a CAGR of +388.6%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the UK ($X) and Germany ($X) appeared to be the largest markets for crude coconut oil exported from Italy worldwide, together accounting for 82% of total exports.

Among the main countries of destination, the UK, with a CAGR of +340.5%, 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 crude coconut oil export price amounted to $X per ton, surging by 9% against the previous year. Overall, the export price recorded a strong expansion. The pace of growth was the most pronounced in 2014 an increase of 84%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Germany ($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 Belgium (+13.8%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Coconut Oil Imports

Imports into Italy

In 2022, the amount of crude coconut (copra) oil imported into Italy rose markedly to X tons, increasing by 9.6% on the year before. Over the period under review, total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +89.1% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 20% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, crude coconut oil imports skyrocketed to $X in 2022. Overall, imports posted resilient growth. The most prominent rate of growth was recorded in 2021 when imports increased by 59%. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, the Philippines (X tons) was the main supplier of crude coconut oil to Italy, with a approx. 99% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Philippines totaled +3.6%.

In value terms, the Philippines ($X) constituted the largest supplier of crude coconut (copra) oil to Italy.

From 2012 to 2022, the average annual growth rate of value from the Philippines stood at +7.0%.

Import Prices by Country

In 2022, the average crude coconut oil import price amounted to $X per ton, surging by 24% against the previous year. Over the period under review, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude coconut oil import price increased by +105.9% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 66% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the rate of growth in terms of prices for the Philippines amounted to +3.2% per year.

Source: IndexBox Platform

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