Oman: Coconut Market 2024

Coconut Market Size in Oman

In 2022, the Omani coconut market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption showed a prominent expansion. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Coconut Production in Oman

In value terms, coconut production amounted to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with a decrease of 99.9% against the previous year. Over the period under review, production attained the peak level in 2022 and is likely to continue growth in years to come.

The average yield of coconuts in Oman amounted to less than X kg per ha in 2022, leveling off at 2021 figures. Overall, the yield recorded a relatively flat trend pattern. 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 in Oman amounted to less than X ha in 2022, approximately equating 2021. Overall, the harvested area saw a relatively flat trend pattern.

Coconut Exports

Exports from Oman

For the fifth year in a row, Oman recorded decline in shipments abroad of coconuts, which decreased by -7.4% to X tons in 2022. In general, exports continue to indicate a precipitous shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 198% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, coconut exports shrank significantly to $X in 2022. Overall, exports saw a sharp downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 95%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Qatar (X tons) was the main destination for coconut exports from Oman, accounting for a 61% share of total exports. Moreover, coconut exports to Qatar exceeded the volume sent to the second major destination, Iran (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Qatar totaled +19.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (-42.2% per year) and Saudi Arabia (+0.0% per year).

In value terms, Qatar ($X) remains the key foreign market for coconuts exports from Oman, comprising 75% of total exports. The second position in the ranking was held by Iran ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Qatar stood at +8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (-21.5% per year) and Saudi Arabia (-8.3% per year).

Export Prices by Country

In 2022, the average coconut export price amounted to $X per ton, declining by -19.8% against the previous year. In general, the export price showed a perceptible slump. The pace of growth was the most pronounced in 2019 when the average export price increased by 112% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 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 Qatar ($X per ton), while the average price for exports to Saudi Arabia ($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 Iran (+35.8%), while the prices for the other major destinations experienced a decline.

Coconut Imports

Imports into Oman

In 2022, overseas purchases of coconuts increased by 53% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2018 with an increase of 242% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, coconut imports expanded markedly to $X in 2022. Overall, imports showed buoyant growth. The pace of growth appeared the most rapid in 2018 when imports increased by 392% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of coconut to Oman, accounting for a 61% share of total imports. Moreover, coconut imports from India exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume from India stood at +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-0.0% per year) and Sri Lanka (+76.1% per year).

In value terms, India ($X) constituted the largest supplier of coconuts to Oman, comprising 66% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 26% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from India totaled +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+3.3% per year) and Sri Lanka (+41.5% per year).

Import Prices by Country

In 2022, the average coconut import price amounted to $X per ton, waning by -31.1% against the previous year. In general, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the average import price increased by 44% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then shrank markedly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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