Scandinavia: Crude Coconut Oil Market 2025

Crude Coconut Oil Market Size in Scandinavia

The Scandinavia crude coconut oil market totaled $X in 2022, increasing by 9.2% against the previous year. Over the period under review, consumption, however, enjoyed a moderate increase. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Crude Coconut Oil Production in Scandinavia

In value terms, crude coconut oil production skyrocketed to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 233% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Crude Coconut Oil Exports

Exports in Scandinavia

After two years of growth, overseas shipments of crude coconut (copra) oil decreased by -16.4% to X tons in 2022. Over the period under review, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 252%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, crude coconut oil exports fell sharply to $X in 2022. Overall, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 199%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden represented the key exporting country with an export of about X tons, which recorded 83% of total exports. It was distantly followed by Norway (X tons) and Finland (X tons), together comprising a 17% share of total exports.

Sweden was also the fastest-growing in terms of the crude coconut (copra) oil exports, with a CAGR of +37.7% from 2012 to 2022. At the same time, Finland (+15.9%) and Norway (+5.8%) displayed positive paces of growth. Sweden (+49 p.p.) and Finland (+5.6 p.p.) significantly strengthened its position in terms of the total exports, while Norway saw its share reduced by -54.6% from 2012 to 2022, respectively.

In value terms, Sweden ($X) remains the largest crude coconut oil supplier in Scandinavia, comprising 67% of total exports. The second position in the ranking was held by Norway ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden totaled +41.4%. In the other countries, the average annual rates were as follows: Norway (+12.9% per year) and Finland (+20.7% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, falling by -8.3% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 27%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+6.7%), while the other leaders experienced more modest paces of growth.

Crude Coconut Oil Imports

Imports in Scandinavia

In 2022, purchases abroad of crude coconut (copra) oil decreased by -3.1% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, continue to indicate a resilient expansion. The growth pace was the most rapid in 2017 when imports increased by 259% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, crude coconut oil imports rose remarkably to $X in 2022. Overall, imports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2017 when imports increased by 194%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The countries with the highest levels of crude coconut oil imports in 2022 were Sweden (X tons), together recording 99% of total import.

Sweden was also the fastest-growing in terms of the crude coconut (copra) oil imports, with a CAGR of +11.0% from 2012 to 2022. From 2012 to 2022, the share of Sweden increased by +31 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) constitutes the largest market for imported crude coconut (copra) oil in Scandinavia.

From 2012 to 2022, the average annual growth rate of value in Sweden stood at +13.6%.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, picking up by 14% against the previous year. Over the period under review, the import price recorded a measured expansion. The pace of growth appeared the most rapid in 2021 when the import price increased by 70%. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Sweden.

From 2012 to 2022, the rate of growth in terms of prices for Sweden amounted to +2.4% per year.

Source: IndexBox Platform