Coconut oilcake market in Southern Asia

Earlier Report Observations

The market volume of coconut oilcake in India grew substantially from 211 thousand tons in 2018 to 261 thousand tons in 2019, driven by government investments to expand coconut cultivation area and establish new processing units for value-added products. This expansion in upstream coconut production was further supported by the projected strong global demand for virgin coconut oil, which encouraged higher coconut oil extraction and consequently increased output of oilcake as a by-product.

After a moderate contraction to 247 thousand tons in 2020, the market recovered and entered a phase of steady growth, reaching 277 thousand tons by 2023. This recovery was underpinned by technological improvements in solvent extraction processes and the continued expansion of the solvent extraction industry's capacity, which enhanced the efficiency of copra processing. Ongoing government funding for coconut productivity and area development helped maintain a stable supply of raw material.

The consistent growth through 2021-2023 was also reinforced by robust external demand for Indian oilmeals, with exports surging by 24% in volume during the 2023-24 period. Market diversification, including the emergence of specialized protein concentrates from oilcakes for niche applications, added value to the sector. By 2024, however, prolonged droughts and heatwaves in major coconut-growing states began affecting copra yields, introducing a potential constraint on future oilcake production.

Production coconut oilcake in Southern Asia

In kind, 2017-2020, K t

Top producers of coconut oilcake, 2017-2020

World map of production of coconut oilcake, 2017-2020

In 2020, Southern Asia produced 247.4 thousand tons of coconut oilcake, representing a 4.4% decrease from the previous year. Over the period from 2017 to 2020, production declined by 7.5%, which translates to an average annual decrease of 2.6%. The lowest production level was recorded in 2018 at 217.1 thousand tons. That year also saw the largest decline of 18.8%. In contrast, 2019 experienced the largest increase of 19.3%.

Annual dynamics of production in Southern Asia in kind, 2017-2020, K t

Exports coconut oilcake from Southern Asia

Exports in kind, t

The market displayed an unstable trend throughout the observed period. Exports reached their highest point in 2018 at 5 792 tons and their lowest in 2019 at 1 522 tons, resulting in a 3.8-fold difference between these years. In 2020, coconut oilcake exports from Southern Asia totaled 1 918 tons, marking a 26.0% increase compared to 2019. The largest decline occurred in 2019 with a drop of 73.7%, while the largest increase was recorded in 2018 at 44.3%.

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

From 2017 to 2020, the United States, Egypt, and Italy were the largest buyers of coconut oilcake from Southern Asia, though none dominated the market. The United States accounted for 5.1% of exports in kind, Egypt for 2.1%, and Italy for 1.4%. Together, these three countries represented 8.6% of total exports, with the remainder distributed among numerous smaller partners.

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

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

Exports in value, K $ US

The market exhibited an unstable trend throughout the timeframe. Export values peaked in 2019 at 11 432 thousand US dollars and fell to their lowest point in 2018 at 3 604 thousand US dollars, showing a 3.2-fold difference. In 2020, coconut oilcake shipments from Southern Asia to abroad amounted to 8 055 thousand US dollars, which is 29.5% lower than the previous year. The largest decline was recorded in 2018 at 63.2%, while the largest increase occurred in 2019 with a rise of 217.2%.

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

During the 2017–2020 period, exports in value terms of coconut oilcake from Southern Asia were spread across a wide range of markets. Egypt accounted for 6.0% of exports in value terms, the United States for 4.2%, and Turkey for 3.1%. Collectively, these three countries represented only 13.2% of total export flows, highlighting the diverse nature of the market.

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

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

Imports coconut oilcake to Southern Asia

Imports in kind, t

The market showed signs of volatility over the observed period. Imports peaked in 2019 at 3 137 tons and reached their lowest point in 2018 at 108 tons, with a 29-fold difference between these years. In 2020, foreign coconut oilcake supplies to Southern Asia stood at 1 653 tons, indicating a 47.3% drop compared to 2019. The largest decline was recorded in 2018 at 70.3%, while the largest increase occurred in 2019 with a surge of 2,814.7%.

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

From 2017 to 2020, Papua New Guinea remained the primary source for coconut oilcake imports to Southern Asia, accounting for 85.1% of total imports in kind. The remaining volume was distributed among other countries.

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

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

Imports in value, K $ US

Volatility characterized the market behavior during these years. Import values peaked in 2019 at 1 499 thousand US dollars and reached their minimum in 2018 at 61 thousand US dollars, showing a 24-fold difference. In 2020, coconut oilcake volumes in Southern Asia were recorded at 799 thousand US dollars, indicating a 46.7% drop compared to the previous year. The largest decline was recorded in 2018 at 67.7%, while the largest increase occurred in 2019 with a rise of 2,343.6%.

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

Over the 2017–2020 period, Papua New Guinea remained the dominant partner for imports in value terms of coconut oilcake to Southern Asia, with a share of 87.8% of total flows. Other markets collectively formed a long tail in the import structure.

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

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