Kenya: Crude Coconut Oil Market 2024

Crude Coconut Oil Market Size in Kenya

In 2022, after four years of growth, there was decline in the Kenyan crude coconut oil market, when its value decreased by -0.5% to $X. Overall, consumption saw a perceptible reduction. Crude coconut oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Crude Coconut Oil Production in Kenya

In value terms, crude coconut oil production amounted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a perceptible descent. The pace of growth appeared the most rapid in 2014 when the production volume increased by 226% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Crude Coconut Oil Exports

Exports from Kenya

In 2022, shipments abroad of crude 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. Over the period under review, exports, however, continue to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2015 with an increase of 691% against the previous year. As a result, the exports reached the peak of X tons. From 2016 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. In general, exports, however, saw a abrupt decrease. The growth pace was the most rapid in 2014 when exports increased by 671%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), the Netherlands (X tons) and France (X tons) were the main destinations of crude coconut oil exports from Kenya, together accounting for 84% 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 France (with a CAGR of +435.1%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for crude coconut oil exported from Kenya were the United States ($X), France ($X) and the Netherlands ($X), together accounting for 88% of total exports.

In terms of the main countries of destination, France, with a CAGR of +387.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average crude coconut oil export price amounted to $X per ton, waning by -10.2% against the previous year. In general, the export price recorded a perceptible descent. The most prominent rate of growth was recorded in 2014 when the average export price increased by 29%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Yemen ($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 the UK (+6.4%), while the prices for the other major destinations experienced mixed trend patterns.

Crude Coconut Oil Imports

Imports into Kenya

In 2022, after two years of growth, there was significant decline in supplies from abroad of crude coconut (copra) oil, when their volume decreased by -18.8% to X tons. Over the period under review, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 350% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, crude coconut oil imports contracted sharply to $X in 2022. Overall, imports saw a deep downturn. The growth pace was the most rapid in 2020 when imports increased by 197%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Indonesia (X tons), Vietnam (X tons) and Mozambique (X tons) were the main suppliers of crude coconut oil imports to Kenya, together comprising 85% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +9.8%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Indonesia ($X) constituted the largest supplier of crude coconut (copra) oil to Kenya, comprising 56% of total imports. The second position in the ranking was held by Mozambique ($X), with a 17% share of total imports. It was followed by Sri Lanka, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Indonesia totaled -4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Mozambique (-5.8% per year) and Sri Lanka (+9.3% per year).

Import Prices by Country

The average crude coconut oil import price stood at $X per ton in 2022, with a decrease of -8% against the previous year. In general, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.6% 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 +22.1% against 2020 indices. The growth pace was the most rapid in 2021 when the average import price increased by 33% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Vietnam ($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 (+17.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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