Southern Asia: Crude Coconut Oil Market 2024

Crude Coconut Oil Market Size in Southern Asia

The South Asian crude coconut oil market fell slightly to $X in 2022, shrinking by -3.7% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Crude Coconut Oil Production in Southern Asia

In value terms, crude coconut oil production declined to $X in 2022 estimated in export price. In general, production, however, continues to indicate a moderate increase. The pace of growth appeared the most rapid in 2019 when the production volume increased by 69%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Crude Coconut Oil Exports

Exports in Southern Asia

In 2022, approx. X tons of crude coconut (copra) oil were exported in Southern Asia; picking up by 56% on 2021. Over the period under review, exports showed a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 302%. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude coconut oil exports rose modestly to $X in 2022. Overall, exports continue to indicate a significant increase. The growth pace was the most rapid in 2014 with an increase of 362%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Sri Lanka (X tons) and India (X tons), together reaching 99.9% of total export.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +59.4%).

In value terms, Sri Lanka ($X) remains the largest crude coconut oil supplier in Southern Asia, comprising 77% of total exports. The second position in the ranking was taken by India ($X), with a 23% share of total exports.

In Sri Lanka, crude coconut oil exports expanded at an average annual rate of +22.7% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, waning by -32.8% against the previous year. In general, the export price recorded a perceptible slump. The most prominent rate of growth was recorded in 2017 when the export price increased by 54% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (-0.8%).

Crude Coconut Oil Imports

Imports in Southern Asia

In 2022, the amount of crude coconut (copra) oil imported in Southern Asia skyrocketed to X tons, growing by 56% on the year before. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 70%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, crude coconut oil imports surged to $X in 2022. Overall, imports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2014 when imports increased by 112% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Sri Lanka dominates imports structure, accounting for X tons, which was near 84% of total imports in 2022. It was distantly followed by Bangladesh (X tons), committing an 8% share of total imports. Pakistan (X tons), Afghanistan (X tons) and India (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to crude coconut oil imports into Sri Lanka stood at +15.6%. At the same time, Afghanistan (+23.1%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +23.1% from 2012-2022. By contrast, Bangladesh (-11.3%), Pakistan (-23.5%) and India (-33.3%) illustrated a downward trend over the same period. Sri Lanka (+63 p.p.), India (+1.9 p.p.) and Afghanistan (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Bangladesh and Pakistan saw its share reduced by -20.7% and -39.5% from 2012 to 2022, respectively.

In value terms, Sri Lanka ($X) constitutes the largest market for imported crude coconut (copra) oil in Southern Asia, comprising 81% of total imports. The second position in the ranking was taken by Bangladesh ($X), with an 8.9% share of total imports. It was followed by Afghanistan, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Sri Lanka stood at +25.9%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (-5.8% per year) and Afghanistan (+33.7% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, picking up by 22% against the previous year. Import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude coconut oil import price increased by +96.9% against 2019 indices. The most prominent rate of growth was recorded in 2014 an increase of 37%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

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 Afghanistan ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+8.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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