Australia and Oceania: Coconut Market 2024

Coconut Market Size in Australia and Oceania

The coconut market in Australia and Oceania declined slightly to $X in 2022, approximately mirroring the previous year. In general, consumption showed a slight slump. The pace of growth was the most pronounced in 2016 with an increase of 6.6% against the previous year. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Coconut Production in Australia and Oceania

In value terms, coconut production shrank to $X in 2022 estimated in export price. Overall, production recorded a deep setback. The growth pace was the most rapid in 2014 with an increase of 37%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

The country with the largest volume of coconut production was Papua New Guinea (X tons), accounting for 64% of total volume. Moreover, coconut production in Papua New Guinea exceeded the figures recorded by the second-largest producer, Vanuatu (X tons), fivefold. The third position in this ranking was held by Kiribati (X tons), with a 6.3% share.

From 2012 to 2022, the average annual growth rate of volume in Papua New Guinea totaled +4.0%. In the other countries, the average annual rates were as follows: Vanuatu (+0.0% per year) and Kiribati (+0.6% per year).

In 2022, the average coconut yield in Australia and Oceania declined slightly to X tons per ha, leveling off at the previous year. In general, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 22% against the previous year. The level of yield peaked at X tons per ha in 2016; however, from 2017 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The coconut harvested area totaled X ha in 2022, flattening at 2021 figures. The harvested area increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 27% against the previous year. Over the period under review, the harvested area dedicated to coconut production attained the peak figure at X ha in 2020; however, from 2021 to 2022, the harvested area stood at a somewhat lower figure.

Coconut Exports

Exports in Australia and Oceania

In 2022, coconut exports in Australia and Oceania declined to X tons, dropping by -6.9% against 2021 figures. Over the period under review, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 29% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, coconut exports shrank notably to $X in 2022. In general, exports continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2017 when exports increased by 63%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Samoa represented the main exporting country with an export of about X tons, which finished at 65% of total exports. Tonga (X tons) held the second position in the ranking, distantly followed by Australia (X tons). All these countries together held approx. 28% share of total exports. Fiji (X tons) took a little share of total exports.

Samoa experienced a relatively flat trend pattern with regard to volume of exports of coconuts. At the same time, Australia (+21.6%) displayed positive paces of growth. Moreover, Australia emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of +21.6% from 2012-2022. By contrast, Fiji (-6.4%) and Tonga (-15.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Samoa, Australia and Fiji increased by +52, +9.3 and +2.6 percentage points, respectively.

In value terms, Samoa ($X), Australia ($X) and Tonga ($X) were the countries with the highest levels of exports in 2022, with a combined 94% share of total exports.

Among the main exporting countries, Australia, with a CAGR of +21.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per ton, waning by -8.8% against the previous year. Overall, the export price, however, saw prominent growth. The pace of growth appeared the most rapid in 2017 when the export price increased by 26%. The level of export peaked at $X per ton in 2021, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Australia ($X per ton), while Tonga ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Samoa (+12.3%), while the other leaders experienced more modest paces of growth.

Coconut Imports

Imports in Australia and Oceania

In 2022, supplies from abroad of coconuts increased by 4.5% to X tons, rising for the second year in a row after six years of decline. Overall, imports, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2013 when imports increased by 19%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, coconut imports totaled $X in 2022. The total import value increased at an average annual rate of +5.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when imports increased by 35% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Australia (X tons) represented the major importer of coconuts, mixing up 84% of total imports. It was distantly followed by New Zealand (X tons), comprising a 15% share of total imports.

Imports into Australia decreased at an average annual rate of -3.1% from 2012 to 2022. New Zealand (-1.2%) illustrated a downward trend over the same period. New Zealand (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while Australia saw its share reduced by -2.5% from 2012 to 2022, respectively.

In value terms, Australia ($X) constitutes the largest market for imported coconuts in Australia and Oceania, comprising 86% of total imports. The second position in the ranking was held by New Zealand ($X), with a 13% share of total imports.

In Australia, coconut imports expanded at an average annual rate of +5.6% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per ton, surging by 2.3% against the previous year. In general, the import price enjoyed a resilient increase. The most prominent rate of growth was recorded in 2021 an increase of 26%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per ton), while New Zealand stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+8.9%).

Source: IndexBox Platform

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