Australia and Oceania: Crude Coconut Oil Market 2024

Crude Coconut Oil Market Size in Australia and Oceania

The crude coconut oil market in Australia and Oceania expanded modestly to $X in 2023, with an increase of X% against the previous year. Over the period under review, consumption showed a modest increase. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Crude Coconut Oil Production in Australia and Oceania

In value terms, crude coconut oil production totaled $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2021 with an increase of X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Crude Coconut Oil Exports

Exports in Australia and Oceania

In 2023, shipments abroad of crude coconut (copra) oil decreased by X% to X tons, falling for the second year in a row after three years of growth. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, crude coconut oil exports contracted to $X in 2023. Over the period under review, exports, however, saw moderate growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2022, and then shrank in the following year.

Exports by Country

Papua New Guinea dominates exports structure, resulting at X tons, which was near X% of total exports in 2023. It was distantly followed by French Polynesia (X tons) and Solomon Islands (X tons), together creating an X% share of total exports. The following exporters - Samoa (X tons), Fiji (X tons) and Kiribati (X tons) - each finished at an X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to crude coconut oil exports from Papua New Guinea stood at X%. At the same time, Solomon Islands (X%) and Samoa (X%) displayed positive paces of growth. Moreover, Solomon Islands emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of X% from 2012-2023. By contrast, Kiribati (X%), French Polynesia (X%) and Fiji (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Papua New Guinea and Solomon Islands increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Papua New Guinea ($X) remains the largest crude coconut oil supplier in Australia and Oceania, comprising X% of total exports. The second position in the ranking was taken by Solomon Islands ($X), with a X% share of total exports. It was followed by French Polynesia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Papua New Guinea stood at X%. In the other countries, the average annual rates were as follows: Solomon Islands (X% per year) and French Polynesia (X% per year).

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2023, therefore, remained relatively stable against the previous year. Export price indicated a perceptible expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, crude coconut oil export price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2022 an increase of X%. As a result, the export price attained the peak level of $X per ton, leveling off in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Samoa ($X per ton), while Fiji ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Samoa (X%), while the other leaders experienced more modest paces of growth.

Crude Coconut Oil Imports

Imports in Australia and Oceania

For the fourth consecutive year, Australia and Oceania recorded growth in supplies from abroad of crude coconut (copra) oil, which increased by X% to X tons in 2023. In general, imports recorded resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of X%. The volume of import peaked in 2023 and is likely to continue growth in the immediate term.

In value terms, crude coconut oil imports skyrocketed to $X in 2023. Overall, imports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Australia (X tons) and New Zealand (X tons) represented roughly X% of total imports in 2023. It was distantly followed by Fiji (X tons), making up an X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Fiji (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), New Zealand ($X) and Fiji ($X) constituted the countries with the highest levels of imports in 2023, together comprising X% of total imports.

Fiji, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2023, dropping by X% against the previous year. In general, the import price recorded a pronounced decline. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2017; however, from 2018 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Fiji ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by New Zealand (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform