MERCOSUR: Coconut Market 2024

Coconut Market Size in MERCOSUR

The MERCOSUR coconut market reached $X in 2022, almost unchanged from the previous year. Overall, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Coconut Production in MERCOSUR

In value terms, coconut production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when the production volume increased by 57% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Brazil (X tons) constituted the country with the largest volume of coconut production, accounting for 85% of total volume. Moreover, coconut production in Brazil exceeded the figures recorded by the second-largest producer, Venezuela (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Brazil stood at -1.7%. The remaining producing countries recorded the following average annual rates of production growth: Venezuela (+3.7% per year) and Colombia (+3.0% per year).

The average coconut yield reached X tons per ha in 2022, approximately mirroring the previous year. In general, the yield showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the yield increased by 6.8%. Over the period under review, the coconut yield attained the peak level at X tons per ha in 2020; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the coconut harvested area in MERCOSUR dropped slightly to X ha, remaining stable against 2021. Overall, the harvested area saw a slight downturn. The most prominent rate of growth was recorded in 2020 when the harvested area increased by 1.2% against the previous year. The level of harvested area peaked at X ha in 2013; however, from 2014 to 2022, the harvested area stood at a somewhat lower figure.

Coconut Exports

Exports in MERCOSUR

In 2022, after two years of growth, there was decline in shipments abroad of coconuts, when their volume decreased by -0.8% to X tons. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 297%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, coconut exports contracted slightly to $X in 2022. Over the period under review, exports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2018 when exports increased by 418% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Guyana (X tons) was the main exporter of coconuts, generating 78% of total exports. It was distantly followed by Venezuela (X tons), generating a 14% share of total exports. The following exporters - Brazil (X tons) and Peru (X tons) - together made up 7.2% of total exports.

Guyana experienced a relatively flat trend pattern with regard to volume of exports of coconuts. At the same time, Brazil (+22.3%) and Peru (+2.8%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +22.3% from 2012-2022. Venezuela experienced a relatively flat trend pattern. Brazil (+3.6 p.p.) significantly strengthened its position in terms of the total exports, while Guyana saw its share reduced by -4.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Guyana ($X) remains the largest coconut supplier in MERCOSUR, comprising 82% of total exports. The second position in the ranking was taken by Venezuela ($X), with a 9.9% share of total exports. It was followed by Brazil, with a 5.6% share.

In Guyana, coconut exports increased at an average annual rate of +7.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Venezuela (+7.3% per year) and Brazil (+29.0% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the export price, however, recorded a resilient expansion. The growth pace was the most rapid in 2016 an increase of 55% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guyana (+7.6%), while the other leaders experienced more modest paces of growth.

Coconut Imports

Imports in MERCOSUR

Coconut imports fell remarkably to X tons in 2022, dropping by -15.2% compared with 2021 figures. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 115% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, coconut imports soared to $X in 2022. Over the period under review, imports, however, enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2014 when imports increased by 77%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Colombia was the main importing country with an import of around X tons, which amounted to 66% of total imports. Chile (X tons) took the second position in the ranking, followed by Argentina (X tons). All these countries together held approx. 20% share of total imports. Brazil (X tons), Paraguay (X tons), Ecuador (X tons) and Uruguay (X tons) took a minor share of total imports.

Colombia experienced a relatively flat trend pattern with regard to volume of imports of coconuts. At the same time, Paraguay (+92.4%), Argentina (+32.4%), Uruguay (+27.4%), Ecuador (+6.0%), Brazil (+3.9%) and Chile (+3.8%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +92.4% from 2012-2022. From 2012 to 2022, the share of Argentina, Paraguay, Chile and Uruguay increased by +7, +3.6, +3.6 and +1.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest coconut importing markets in MERCOSUR were Colombia ($X), Chile ($X) and Ecuador ($X), with a combined 75% share of total imports. Brazil, Argentina, Paraguay and Uruguay lagged somewhat behind, together accounting for a further 25%.

Paraguay, with a CAGR of +93.1%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, rising by 49% against the previous year. Import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.9% 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 +67.7% against 2020 indices. The growth pace was the most rapid in 2014 when the import price increased by 64%. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ecuador ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+7.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform