Puerto Rico: Coconut Market 2025

Coconut Market Size in Puerto Rico

The Puerto Rican coconut market contracted modestly to $X in 2021, waning by -1.8% against the previous year. Overall, consumption saw a abrupt slump. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Coconut Production in Puerto Rico

In value terms, coconut production shrank to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2016 with an increase of 230% against the previous year. Puerto Rico production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

In 2021, the average yield of coconuts in Puerto Rico reduced slightly to X tons per ha, which is down by -3.5% compared with 2020 figures. Overall, the yield saw a pronounced slump. The pace of growth appeared the most rapid in 2016 with an increase of 385%. Over the period under review, the coconut yield reached the maximum level at X tons per ha in 2018; however, from 2019 to 2021, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the coconut harvested area in Puerto Rico reached X ha, growing by 1.6% against the year before. In general, the harvested area, however, continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2019 when the harvested area increased by 21% against the previous year. The global harvested area peaked at X ha in 2013; however, from 2014 to 2021, the harvested area stood at a somewhat lower figure.

Coconut Exports

Exports by Country

Indonesia was the largest exporting country with an export of about X tons, which accounted for 49% of total exports. Thailand (X tons) took a 24% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (15%). The following exporters - India (X tons), Sri Lanka (X tons), Malaysia (X tons) and the Netherlands (X tons) - together made up 7.8% of total exports.

From 2012 to 2021, average annual rates of growth with regard to coconut exports from Indonesia stood at +19.9%. At the same time, Thailand (+26.9%), Sri Lanka (+7.8%), Vietnam (+4.9%), the Netherlands (+3.0%) and India (+1.0%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +26.9% from 2012-2021. By contrast, Malaysia (-4.7%) illustrated a downward trend over the same period. Indonesia (+20 p.p.) and Thailand (+15 p.p.) significantly strengthened its position in terms of the global exports, while Malaysia, India and Vietnam saw its share reduced by -2.7%, -7.3% and -14.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest coconut supplying countries from Puerto Rico were Thailand ($X), Indonesia ($X) and Vietnam ($X), together accounting for 76% of total exports.

Thailand, with a CAGR of +32.1%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Coconut Imports

Imports by Country

China was the largest importing country with an import of about X tons, which resulted at 53% of total imports. Malaysia (X tons) took the second position in the ranking, followed by Thailand (X tons). All these countries together held approx. 28% share of total imports. The following importers - the United Arab Emirates (X tons), the United States (X tons) and the Netherlands (X tons) - together made up 7% of total imports.

Imports into China increased at an average annual rate of +19.3% from 2012 to 2021. At the same time, Thailand (+24.4%), Malaysia (+8.0%) and the United Arab Emirates (+7.6%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in the world, with a CAGR of +24.4% from 2012-2021. The Netherlands and the United States experienced a relatively flat trend pattern. China (+20 p.p.) and Thailand (+6.9 p.p.) significantly strengthened its position in terms of the global imports, while the United Arab Emirates, the Netherlands, the United States and Malaysia saw its share reduced by -1.7%, -1.8%, -5.8% and -8.3% from 2012 to 2021, respectively.

In value terms, China ($X) constitutes the largest market for imported coconuts into Puerto Rico, comprising 51% of global imports. The second position in the ranking was held by Thailand ($X), with an 8% share of global imports. It was followed by Malaysia, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +24.2%. In the other countries, the average annual rates were as follows: Thailand (+29.1% per year) and Malaysia (+13.4% per year).

Source: IndexBox Platform

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