Coconut oil and fractions market in Saint Vincent and the Grenadines

Earlier Report Observations

Between 2018 and 2023, the coconut oil market in Saint Vincent and the Grenadines showed considerable volatility. The market volume rose from 178 t in 2018 to a high of 249 t in 2020, representing growth of nearly 40%. This upward trend then reversed, with the market contracting to 124 t by 2023.

The 2020 peak aligned with a substantial increase in domestic production to 243 t, while imports dropped sharply to 9 t. After 2020, production entered a steady decline, falling to 113 t in 2023. This reduction in local output was the primary factor behind the market's contraction, even as imports recovered to some extent in the later years.

Exports remained a minor component but grew notably in 2023, reaching 8 t. This higher outbound flow further reduced the net volume available within the domestic market during the final year of the period.

Production coconut oil and fractions in Saint Vincent and the Grenadines

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

After a two-year decline, coconut oil and fractions production in Saint Vincent and the Grenadines rebounded. In 2020, the country produced 243.2 tonnes, marking a sharp 64.8% year-over-year increase. Production reached its lowest point in 2019 at 147.6 tonnes, with the largest decline occurring in 2018 at 19.0%. Over the 2017-2020 period, overall production grew by 28.5%, representing a compound annual growth rate of 8.7%.

Annual dynamics of production in Saint Vincent and the Grenadines in kind, 2017-2020, t

Exports coconut oil and fractions from Saint Vincent and the Grenadines

Exports in kind, kg

Coconut oil and fractions exports from Saint Vincent and the Grenadines increased for the third consecutive year. In 2020, the country shipped 2 531 kg abroad, reflecting a gradual 4.0% rise from 2019. Over the 2017-2020 period, exports grew by 100.9%, with a compound annual growth rate of 26.2%.

Annual dynamics of product's exports from Saint Vincent and the Grenadines in kind, 2017-2020, kg

From 2017 to 2020, Saint Kitts and Nevis, the British Virgin Islands, and Antigua and Barbuda remained the top buyers of coconut oil and fractions from Saint Vincent and the Grenadines. Saint Kitts and Nevis accounted for 34.4% of exports in kind, the British Virgin Islands for 27.0%, and Antigua and Barbuda for 8.9%. Together, these three markets represented 70.3% of total exports in kind.

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

World map of product's exports from Saint Vincent and the Grenadines in kind, 2017-2020

Exports in value, $ US

The value of coconut oil and fractions exports from Saint Vincent and the Grenadines rose for the third year in a row. In 2020, exports reached 21 699 US dollars, showing a 48.9% year-over-year increase. Over the 2017-2020 period, export value surged by 403.5%, with a compound annual growth rate of 71.4%.

Annual dynamics of product's exports from Saint Vincent and the Grenadines in value, 2017-2020, $ US

From 2017 to 2020, Saint Kitts and Nevis, the British Virgin Islands, and Grenada were the leading markets for coconut oil and fractions exports from Saint Vincent and the Grenadines in value terms. Saint Kitts and Nevis held a 36.9% share, the British Virgin Islands 32.1%, and Grenada 6.9%. Collectively, these three destinations accounted for 76.0% of total export value.

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

World map of product's exports from Saint Vincent and the Grenadines in value, 2017-2020

Imports coconut oil and fractions to Saint Vincent and the Grenadines

Imports in kind, kg

The import market showed an unstable trend during this period. Imports peaked in 2019 at 52 025 kg and fell to a low of 8 687 kg in 2020, a 6-fold decrease. In 2020, imports dropped sharply by 83.3% compared to the previous year. The largest increase occurred in 2018, with a rise of 203.9%.

Annual dynamics of product's imports to Saint Vincent and the Grenadines in kind, 2017-2020, kg

From 2017 to 2020, Trinidad and Tobago dominated the import structure in kind, accounting for 99.1% of total flows.

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

World map of product's imports to Saint Vincent and the Grenadines in kind, 2017-2020

Imports in value, $ US

The data reveals irregular changes, indicating a volatile market environment. Import value reached a high of 72 611 US dollars in 2019 and fell to a low in 2020, varying 2.3 times between these years. In 2020, imports totaled an unspecified amount, marking a sharp 57.2% year-over-year drop. The largest increase was recorded in 2018 at 73.5%.

Annual dynamics of product's imports to Saint Vincent and the Grenadines in value, 2017-2020, $ US

From 2017 to 2020, Trinidad and Tobago remained the overwhelmingly dominant supplier of coconut oil and fractions to Saint Vincent and the Grenadines, accounting for 97.1% of total imports in value terms.

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

World map of product's imports to Saint Vincent and the Grenadines in value, 2017-2020