Malaysia: Crude Coconut Oil Market 2024

Crude Coconut Oil Market Size in Malaysia

The Malaysian crude coconut oil market declined rapidly to $X in 2022, which is down by -24.4% against the previous year. In general, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +47.5% against 2020 indices. As a result, consumption reached the peak level of $X, and then plummeted in the following year.

Crude Coconut Oil Production in Malaysia

In value terms, crude coconut oil production reduced modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a slight decrease. The most prominent rate of growth was recorded in 2014 with an increase of 44%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Crude Coconut Oil Exports

Exports from Malaysia

In 2022, approx. X tons of crude coconut (copra) oil were exported from Malaysia; growing by 43% against the previous year. In general, exports posted a modest expansion. The growth pace was the most rapid in 2014 when exports increased by 181%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude coconut oil exports expanded rapidly to $X in 2022. Over the period under review, exports saw mild growth. The most prominent rate of growth was recorded in 2014 with an increase of 240%. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for crude coconut oil exports from Malaysia, accounting for a 33% share of total exports. Moreover, crude coconut oil exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X tons), twofold. Germany (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +19.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+21.3% per year) and Germany (+3.7% per year).

In value terms, the United States ($X) remains the key foreign market for crude coconut (copra) oil exports from Malaysia, comprising 36% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 17% share of total exports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+21.7% per year) and Germany (+6.2% per year).

Export Prices by Country

In 2022, the average crude coconut oil export price amounted to $X per ton, declining by -22.6% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 54% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 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 Somalia ($X per ton), while the average price for exports to Greece ($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 Germany (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Coconut Oil Imports

Imports into Malaysia

Crude coconut oil imports into Malaysia reduced dramatically to X tons in 2022, with a decrease of -20.6% compared with the previous year's figure. Over the period under review, total imports indicated modest growth from 2012 to 2022: its volume 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, imports increased by +34.7% against 2020 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 88%. Imports peaked at X tons in 2021, and then declined remarkably in the following year.

In value terms, crude coconut oil imports shrank dramatically to $X in 2022. Overall, imports, however, posted a measured increase. The pace of growth was the most pronounced in 2021 with an increase of 87%. As a result, imports attained the peak of $X, and then shrank notably in the following year.

Imports by Country

The Philippines (X tons), Indonesia (X tons) and Papua New Guinea (X tons) were the main suppliers of crude coconut oil imports to Malaysia, with a combined 96% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Papua New Guinea (with a CAGR of +30.2%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest crude coconut oil suppliers to Malaysia were the Philippines ($X), Indonesia ($X) and Papua New Guinea ($X), together accounting for 96% of total imports.

In terms of the main suppliers, Papua New Guinea, with a CAGR of +30.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average crude coconut oil import price stood at $X per ton in 2022, dropping by -3.4% against the previous year. Over the period under review, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.6% 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 +41.7% against 2018 indices. The most prominent rate of growth was recorded in 2014 an increase of 50%. Over the period under review, average import prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Papua New Guinea ($X per ton) and the Philippines ($X per ton), while the price for Australia ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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