Spain: Coconut Market 2024

Coconut Market Size in Spain

In 2022, the Spanish coconut market decreased by -33.2% to $X, falling for the third consecutive year after two years of growth. Overall, consumption, however, showed a remarkable increase. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Coconut Production in Spain

In value terms, coconut production totaled $X in 2022 estimated in export price. In general, production showed a dramatic downturn. The most prominent rate of growth was recorded in 2013 when the production volume increased by 20%. Coconut production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of coconuts in Spain stood at less than X kg per ha, approximately reflecting 2021 figures. Over the period under review, the yield saw a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of coconuts production in Spain was estimated at less than X ha, approximately reflecting the previous year. Overall, the harvested area showed a relatively flat trend pattern.

Coconut Exports

Exports from Spain

After three years of growth, shipments abroad of coconuts decreased by -21.8% to X tons in 2022. Over the period under review, exports, however, recorded a notable expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 128%. The exports peaked at X tons in 2021, and then contracted dramatically in the following year.

In value terms, coconut exports fell to $X in 2022. In general, exports, however, posted a strong increase. The pace of growth appeared the most rapid in 2017 with an increase of 202% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then dropped in the following year.

Exports by Country

Germany (X tons), the Netherlands (X tons) and the UK (X tons) were the main destinations of coconut exports from Spain, together comprising 46% of total exports. The United States, Portugal, Austria, France, Italy, Morocco, Poland and the Czech Republic lagged somewhat behind, together accounting for a further 47%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +270.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for coconuts exports from Spain, comprising 42% of total exports. The second position in the ranking was held by Germany ($X), with an 11% share of total exports. It was followed by the Netherlands, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +291.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+11.3% per year) and the Netherlands (+17.8% per year).

Export Prices by Country

The average coconut export price stood at $X per ton in 2022, rising by 21% against the previous year. Overall, the export price recorded strong growth. The pace of growth appeared the most rapid in 2016 when the average export price increased by 43% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Italy ($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 Poland (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Coconut Imports

Imports into Spain

In 2022, purchases abroad of coconuts decreased by -25% to X tons, falling for the third year in a row after four years of growth. In general, imports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2016 when imports increased by 101%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, coconut imports fell notably to $X in 2022. Over the period under review, imports, however, continue to indicate strong growth. The growth pace was the most rapid in 2016 with an increase of 51%. Imports peaked at $X in 2021, and then contracted remarkably in the following year.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest supplier of coconut to Spain, with a 65% share of total imports. Moreover, coconut imports from Vietnam exceeded the figures recorded by the second-largest supplier, Cote d'Ivoire (X tons), threefold. The third position in this ranking was held by France (X tons), with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Vietnam stood at +90.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+11.9% per year) and France (-8.1% per year).

In value terms, Vietnam ($X) constituted the largest supplier of coconuts to Spain, comprising 50% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 20% share of total imports. It was followed by France, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Vietnam amounted to +92.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+19.5% per year) and France (-1.4% per year).

Import Prices by Country

In 2022, the average coconut import price amounted to $X per ton, reducing by -7.2% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 25% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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