South-Eastern Asia: Coconut Market 2024

Coconut Market Size in South-Eastern Asia

The Southeast Asian coconut market was estimated at $X in 2022, standing approx. at the previous year. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Coconut Production in South-Eastern Asia

In value terms, coconut production rose to $X in 2022 estimated in export price. In general, production, however, enjoyed pronounced growth. The pace of growth was the most pronounced in 2017 with an increase of 168%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Indonesia (X tons), the Philippines (X tons) and Vietnam (X tons), with a combined 92% share of total production.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +3.5%), while production for the other leaders experienced mixed trends in the production figures.

In 2022, the average yield of coconuts in South-Eastern Asia dropped modestly to X tons per ha, therefore, remained relatively stable against 2021 figures. Over the period under review, the yield continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the yield increased by 3%. The level of yield peaked at X tons per ha in 2012; however, from 2013 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the coconut harvested area in South-Eastern Asia dropped slightly to X ha, approximately mirroring 2021 figures. Overall, the harvested area recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 0.8% against the previous year. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Coconut Exports

Exports in South-Eastern Asia

After three years of growth, shipments abroad of coconuts decreased by -20.6% to X tons in 2022. Overall, exports, however, recorded a prominent expansion. The growth pace was the most rapid in 2017 when exports increased by 40%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then shrank dramatically in the following year.

In value terms, coconut exports fell to $X in 2022. Over the period under review, exports, however, continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2017 with an increase of 52% against the previous year. The level of export peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Thailand represented the major exporter of coconuts in South-Eastern Asia, with the volume of exports reaching X tons, which was approx. 48% of total exports in 2022. Indonesia (X tons) held a 28% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (20%). Malaysia (X tons) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Thailand (with a CAGR of +28.3%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) remains the largest coconut supplier in South-Eastern Asia, comprising 66% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 17% share of total exports. It was followed by Vietnam, with a 13% share.

In Thailand, coconut exports expanded at an average annual rate of +31.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Indonesia (+10.7% per year) and Vietnam (+3.7% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, increasing by 19% against the previous year. Export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coconut export price increased by +100.4% against 2015 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Thailand ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+4.6%), while the other leaders experienced more modest paces of growth.

Coconut Imports

Imports in South-Eastern Asia

In 2022, approx. X tons of coconuts were imported in South-Eastern Asia; falling by -10.8% compared with 2021 figures. In general, imports, however, continue to indicate a strong expansion. The pace of growth was the most pronounced in 2014 with an increase of 217% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, coconut imports declined remarkably to $X in 2022. Over the period under review, imports, however, recorded prominent growth. The pace of growth appeared the most rapid in 2014 when imports increased by 165%. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Malaysia was the largest importing country with an import of about X tons, which amounted to 61% of total imports. It was distantly followed by Thailand (X tons), mixing up a 34% share of total imports. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of +17.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest coconut importing markets in South-Eastern Asia were Malaysia ($X), Thailand ($X) and Singapore ($X), with a combined 96% share of total imports.

Among the main importing countries, Thailand, with a CAGR of +19.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, which is down by -6.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.2%. The pace of growth appeared the most rapid in 2013 an increase of 31%. Over the period under review, import prices attained the peak figure at $X per ton in 2021, and then fell in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+7.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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