Northern America: Crude Coconut Oil Market 2024

Crude Coconut Oil Market Size in Northern America

The North American crude coconut oil market soared to $X in 2022, increasing by 23% against the previous year. The total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.3% 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 +53.0% against 2019 indices. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Crude Coconut Oil Production in Northern America

In value terms, crude coconut oil production amounted to $X in 2022 estimated in export price. Overall, production, however, showed a significant expansion. The pace of growth appeared the most rapid in 2015 when the production volume increased by 255,338,900% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Crude Coconut Oil Exports

Exports in Northern America

After three years of growth, overseas shipments of crude coconut (copra) oil decreased by -14.5% to X tons in 2022. Overall, exports showed a noticeable downturn. The growth pace was the most rapid in 2015 when exports increased by 195%. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, crude coconut oil exports declined to $X in 2022. Over the period under review, exports, however, showed a prominent increase. The pace of growth appeared the most rapid in 2015 when exports increased by 176%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States was the major exporting country with an export of around X tons, which recorded 59% of total exports. It was distantly followed by Canada (X tons), creating a 41% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Canada (with a CAGR of +41.2%).

In value terms, the United States ($X) and Canada ($X) constituted the countries with the highest levels of exports in 2022.

Canada, with a CAGR of +57.8%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, flattening at the previous year. In general, the export price saw a resilient expansion. The most prominent rate of growth was recorded in 2017 an increase of 99% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+11.8%).

Crude Coconut Oil Imports

Imports in Northern America

Crude coconut oil imports reached X tons in 2022, growing by 14% compared with the year before. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 29% 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, crude coconut oil imports surged to $X in 2022. Total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 +87.3% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 60%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

The United States dominates imports structure, amounting to X tons, which was approx. 98% of total imports in 2022. Canada (X tons) took a relatively small share of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of crude coconut (copra) oil. At the same time, Canada (+7.1%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +7.1% from 2012-2022. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported crude coconut (copra) oil in Northern America, comprising 97% of total imports. The second position in the ranking was taken by Canada ($X), with a 3.4% share of total imports.

In the United States, crude coconut oil imports expanded at an average annual rate of +2.7% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, growing by 9.8% against the previous year. Import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.5% 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 +68.6% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 54% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2017; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.5%).

Source: IndexBox Platform

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