Coconut oil and fractions market in Oceania

Earlier Report Observations

In the late 2010s, the coconut oil market in Oceania underwent structural changes as Papua New Guinea, a key producer, faced declining copra production due to international price volatility and lack of protective local regulation. The state-owned Coconut Marketing Board, the sole permitted buyer and exporter since the 1940s, controlled the supply chain, while the industry began shifting toward certified organic and higher-value products. Rehabilitation programs for copra driers, involving grower contributions and local fabrication, supported this transformation alongside biosecurity protocols to improve market access for Pacific nations.

Market volume fell to 47 thousand t in 2019 but recovered to 60 thousand t by 2021, driven by a rise in domestic production to 87 thousand t and steady imports, despite the absence of specific reported driving events for these years.

Global supply constraints became prominent in 2022, as aging coconut trees, insufficient replanting, and weather-related disruptions in major producer countries like India and Southeast Asia contributed to a market volume drop to 52 thousand t. Concurrently, rising health awareness boosted demand for organic and chemical-free products, supporting consumption. Product innovations such as the Cocavo blend of coconut and avocado oils targeted health-conscious consumers. By 2023, market volume rose to 63 thousand t, aided by a significant reduction in exports.

Production coconut oil and fractions in Oceania

In kind, 2017-2020, t

Top producers of coconut oil and fractions, 2017-2020

World map of production of coconut oil and fractions, 2017-2020

In 2020, Oceania produced 81 409 tonnes of coconut oil and fractions, marking a 12.6% increase from the previous year. Over the period from 2017 to 2020, production grew by 14.7%, which translates to an annualized rate of 4.7%. The most significant drop occurred in 2019, with an 8.6% decline.

Annual dynamics of production in Oceania in kind, 2017-2020, t

Exports coconut oil and fractions from Oceania

Exports in kind, t

Oceania exported 44 542 tonnes of coconut oil and fractions in 2020, showing a 2.1% year-on-year decrease. From 2017 to 2020, exports fell by 2.8%, averaging a 0.9% annual decline. The lowest export volume was in 2018 at 41 881 tonnes. That year also saw the largest decline of 8.6%, while 2019 experienced the biggest increase of 8.6%.

Annual dynamics of product's exports from Oceania in kind, 2017-2020, t

Between 2017 and 2020, Malaysia, France, and Indonesia were the primary destinations for exports in kind, accounting for 49.0%, 14.1%, and 11.9% of exports, respectively. Together, these three countries represented 75.0% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Oceania in kind, 2017-2020

Exports in value, K $ US

Following two years of contraction, coconut oil and fractions exports from Oceania rebounded in 2020, reaching 48 610 thousand US dollars, a 39.3% increase from 2019. However, over the 2017-2020 period, exports decreased by 33.4%, with an annualized decline of 12.7%. The lowest value was recorded in 2019 at 34 901 thousand US dollars, while 2018 saw the largest drop of 32.0%.

Annual dynamics of product's exports from Oceania in value, 2017-2020, K $ US

From 2017 to 2020, Malaysia, Indonesia, and Switzerland were the leading destinations for exports in value terms, with shares of 42.7%, 12.6%, and 10.9%, respectively. Combined, these three countries accounted for 66.2% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Oceania in value, 2017-2020

Imports coconut oil and fractions to Oceania

Imports in kind, t

Oceania's imports of coconut oil and fractions declined for the second consecutive year in 2020, totaling 22 330 tonnes, down 1.7% from 2019. Over the 2017-2020 period, imports increased by 8.2%, with a compound annual growth rate of 2.7%. The peak import volume was in 2018 at 22 330 tonnes, which also saw the largest increase of 22.2%. In contrast, 2019 recorded the largest decline of 9.9%.

Annual dynamics of product's imports to Oceania in kind, 2017-2020, t

During 2017-2020, Malaysia and Sri Lanka dominated imports in kind, together capturing 80.3% of total imports, while the remaining flows were distributed across other markets.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Oceania in kind, 2017-2020

Imports in value, K $ US

Oceania's imports of coconut oil and fractions in value terms fell for the second year in a row in 2020, amounting to 30 625 thousand US dollars, a slight 2.0% decrease from the previous year. Over the 2017-2020 period, imports dropped by 38.7%, with a compound annual decline of 15.1%. The highest import value was in 2018 at 51 951 thousand US dollars, which also saw a 3.9% increase. The largest decline occurred in 2019, with a 39.8% drop.

Annual dynamics of product's imports to Oceania in value, 2017-2020, K $ US

From 2017 to 2020, Malaysia, Sri Lanka, and the Philippines were the main suppliers of coconut oil and fractions to Oceania in value terms, with shares of 46.6%, 27.4%, and 9.7%, respectively. Together, these three countries formed 83.7% of total imports.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Oceania in value, 2017-2020