Pakistan: Crude Coconut Oil Market 2024

Crude Coconut Oil Market Size in Pakistan

The Pakistani crude coconut oil market was estimated at $X in 2022, with an increase of 9% against the previous year. Overall, consumption, however, showed a abrupt setback. Crude coconut oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Crude Coconut Oil Production in Pakistan

In value terms, crude coconut oil production reached $X in 2022 estimated in export price. Overall, production, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 40%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Crude Coconut Oil Exports

Exports from Pakistan

In 2022, approx. X kg of crude coconut (copra) oil were exported from Pakistan; dropping by -40% on the previous year. Over the period under review, exports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 26,715%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, crude coconut oil exports contracted rapidly to $X in 2022. In general, exports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2013 when exports increased by 16,210%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Jordan (X kg) was the main destination for crude coconut oil exports from Pakistan, with a 70% share of total exports. Moreover, crude coconut oil exports to Jordan exceeded the volume sent to the second major destination, Norway (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Jordan stood at +26.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+3.2% per year) and Bahrain (+13.3% per year).

In value terms, Jordan ($X) remains the key foreign market for crude coconut (copra) oil exports from Pakistan, comprising 62% of total exports. The second position in the ranking was held by Norway ($X), with a 4.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Jordan amounted to +30.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+4.4% per year) and Bahrain (+18.6% per year).

Export Prices by Country

The average crude coconut oil export price stood at $X per ton in 2022, approximately reflecting the previous year. Overall, the export price, however, showed a perceptible decrease. The pace of growth appeared the most rapid in 2015 an increase of 100% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Bahrain ($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 France (+40.4%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Coconut Oil Imports

Imports into Pakistan

In 2022, overseas purchases of crude coconut (copra) oil decreased by -2.2% to X tons, falling for the third year in a row after three years of growth. Over the period under review, imports faced a precipitous curtailment. The pace of growth was the most pronounced in 2017 when imports increased by 271% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, crude coconut oil imports soared to $X in 2022. Overall, imports faced a precipitous descent. The most prominent rate of growth was recorded in 2017 with an increase of 390% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest supplier of crude coconut oil to Pakistan, with a 52% share of total imports. Moreover, crude coconut oil imports from Indonesia exceeded the figures recorded by the second-largest supplier, Fiji (X tons), threefold. Papua New Guinea (X tons) ranked third in terms of total imports with an 8.1% share.

From 2012 to 2022, the average annual growth rate of volume from Indonesia stood at -20.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Fiji (-8.3% per year) and Papua New Guinea (-15.8% per year).

In value terms, Indonesia ($X) constituted the largest supplier of crude coconut (copra) oil to Pakistan, comprising 39% of total imports. The second position in the ranking was taken by Fiji ($X), with a 16% share of total imports. It was followed by Papua New Guinea, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia amounted to -23.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Fiji (-9.0% per year) and Papua New Guinea (-20.2% per year).

Import Prices by Country

The average crude coconut oil import price stood at $X per ton in 2022, surging by 24% against the previous year. Over the period under review, the import price, however, recorded a slight downturn. The most prominent rate of growth was recorded in 2014 when the average import price increased by 39% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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