Coconut oil and fractions market in Trinidad and Tobago

Earlier Report Observations

Between 2018 and 2023, the coconut oil market in Trinidad and Tobago saw considerable volatility. Market volume stood at 1 935 t in 2018 and dipped slightly the following year. A 15% increase lifted consumption to 2 193 t in 2020, followed by a minor contraction in 2021. The most dramatic movement occurred in 2022, when the market expanded by 39% to 2 971 t, fueled primarily by higher imports. That surge proved temporary, as volume dropped by 26% in 2023 to 2 182 t.

State involvement in the agricultural sector provided a consistent backdrop during these years. The Cocoa Development Company of Trinidad & Tobago Limited (CDCTTL), a state‑owned enterprise, remained active in fine‑cocoa development, while InvesTT and the EU Delegation hosted a series of cocoa‑focused webinars in 2022. These initiatives underscored institutional attention to the country’s vegetable‑oil industries.

Production coconut oil and fractions in Trinidad and Tobago

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

Trinidad and Tobago's coconut oil and fractions production increased after two years of decline. In 2020, the country produced 1 250 tonnes, showing a modest year-over-year improvement of 1.5%. Looking at the period from 2017 to 2020, production decreased by 4.3%, which translates to an annualized rate of 1.4%. The lowest production level was recorded in 2019 at 1 231 tonnes, with the largest decline of 3.7% occurring that same year.

Annual dynamics of production in Trinidad and Tobago in kind, 2017-2020, t

In value, 2017-2020, K $ US

In 2020, the output of coconut oil and fractions in Trinidad and Tobago was valued at 4 663 thousand US dollars, marking an 8.6% increase compared to the previous year. Over the 2017-2020 period, production value grew by 12.1%, with a compound annual growth rate of 3.9%. The largest decline was observed in 2019 at 4.9%, while the most significant increase occurred in 2018 with an 8.6% rise.

Annual dynamics of production in Trinidad and Tobago in value, 2017-2020, K $ US

Exports coconut oil and fractions from Trinidad and Tobago

Exports in kind, t

Trinidad and Tobago's coconut oil and fractions exports increased after two years of reduction. In 2020, exports reached 1 194 tonnes, representing a 4.4% gain over the previous year. From 2017 to 2020, exports decreased by 16.1%, equating to an annualized decline of 5.7%. The lowest export volume was recorded in 2019 at 1 143 tonnes, with the largest drop of 19.3% occurring in 2018.

Annual dynamics of product's exports from Trinidad and Tobago in kind, 2017-2020, t

Between 2017 and 2020, Jamaica was the primary destination for Trinidad and Tobago's coconut oil and fractions exports in volume terms, accounting for 75.4% of total flows. The remaining exports were distributed among a diverse range of smaller trading partners.

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

World map of product's exports from Trinidad and Tobago in kind, 2017-2020

Exports in value, K $ US

Coconut oil and fractions exports from Trinidad and Tobago increased after a two-year decline. In 2020, the country exported 4 453 thousand US dollars worth of these products, showing an 11.7% year-over-year improvement. The lowest export value was recorded in 2019 at 3 988 thousand US dollars, with the largest decline of 10.5% occurring in 2018.

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

From 2017 to 2020, Jamaica absorbed 75.1% of Trinidad and Tobago's total coconut oil and fractions exports in value terms. The remainder was spread across a wide variety of smaller markets.

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

World map of product's exports from Trinidad and Tobago in value, 2017-2020

Imports coconut oil and fractions to Trinidad and Tobago

Imports in kind, t

Foreign supplies of coconut oil and fractions to Trinidad and Tobago increased for the second consecutive year. In 2020, import volume stood at 2 137 tonnes, corresponding to an 18.0% gain relative to the prior year. Between 2017 and 2020, imports decreased by 7.2%, which represents an annualized rate of 2.5%. The lowest import volume was recorded in 2018 at 1 805 tonnes, with the largest decline of 21.6% occurring that same year.

Annual dynamics of product's imports to Trinidad and Tobago in kind, 2017-2020, t

Over the 2017-2020 period, Indonesia was the main source for Trinidad and Tobago's coconut oil and fractions imports in volume terms, accounting for 81.2% of total flows. Other markets contributed smaller shares, forming a diverse group of secondary partners.

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

World map of product's imports to Trinidad and Tobago in kind, 2017-2020

Imports in value, K $ US

Trinidad and Tobago's coconut oil and fractions imports increased after two years of decline. In 2020, the country imported products valued at 2 608 thousand US dollars, which is 10.7% higher than the previous year. Over the 2017-2020 period, import value decreased by 43.1%, with a compound annual decline rate of 17.1%. The lowest import value was recorded in 2019 at 2 608 thousand US dollars, while the largest drop of 33.7% occurred in 2018.

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

Throughout 2017-2020, Indonesia dominated Trinidad and Tobago's coconut oil and fractions import structure in value terms, holding a 74.3% share of total flows. Other markets played a less significant role, forming a peripheral group of trading partners.

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

World map of product's imports to Trinidad and Tobago in value, 2017-2020