Coconut, palm kernel or babassu oil and fractions market in Hong Kong, 2026

Earlier Report Observations

The market for coconut, palm kernel or babassu oil in Hong Kong experienced significant volatility between 2018 and 2023. After a modest increase to over 1 060 t in 2019, consumption contracted sharply by 35% to 688 t in 2020. The following years saw a partial recovery, with the market expanding to 961 t in 2022 before declining again to 864 t in 2023.

Domestic production followed a similar pattern, rising to 377 t in 2019 before dropping by 35% in 2020. Imports, which constitute the majority of supply, fell from 746 t in 2019 to 502 t in 2020, then rebounded strongly to 688 t in 2022. This import volatility was a key driver of the overall market size movements.

Export volumes remained a minor component, peaking at 60 t in 2019 and gradually declining to 16 t by 2023, which slightly amplified domestic availability in later years.

Production coconut, palm kernel or babassu oil and fractions in Hong Kong

In kind, 2017-2020, t

Top producers of coconut, palm kernel or babassu oil and fractions, 2017-2020

World map of production of coconut, palm kernel or babassu oil and fractions, 2017-2020

Hong Kong's production of coconut, palm kernel, or babassu oil and fractions saw a decline after two years of growth. In 2019, production reached its peak at 376.8 tonnes, marking a 6.5% increase from the previous year. However, by 2020, output had fallen to 245.9 tonnes, representing a significant year-on-year drop of 34.8%. Overall, from 2017 to 2020, production decreased by 28.5%, which translates to an average annual decline of 10.6%.

Annual dynamics of production in Hong Kong in kind, 2017-2020, t

Exports coconut, palm kernel or babassu oil and fractions from Hong Kong

Exports in kind, t

The export market for these oils from Hong Kong has shown considerable volatility. In 2018, shipments hit their lowest point at 35.2 tonnes, a sharp decline of 29.2% from the previous year. The following year, 2019, saw a dramatic rebound, with exports surging 70.7% to reach a peak of 60.0 tonnes. By 2020, exports had moderated slightly to 59.5 tonnes, showing a minor decrease of 0.9% compared to 2019. This fluctuation resulted in a 1.7-fold difference between the highest and lowest volumes over this period.

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

Between 2017 and 2020, Macao and China were the dominant destinations for Hong Kong's exports of these oils in volume terms, jointly accounting for 87.7% of total shipments. The remaining share was distributed among other countries.

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

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

Exports in value, K $ US

Hong Kong's exports of coconut, palm kernel, or babassu oil and fractions in value terms declined for the third year in a row. In 2020, exports amounted to 113 thousand US dollars, a drop of 33.3% from 2019. Over the entire period from 2017 to 2020, exports fell by 66.1%, with an average annual decrease of 30.3%.

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

From 2017 to 2020, China and Macao remained the primary buyers of these oils from Hong Kong in value terms, together making up 83.6% of total exports. The rest was spread across a variety of other countries.

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

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

Imports coconut, palm kernel or babassu oil and fractions to Hong Kong

Imports in kind, t

Imports of these oils into Hong Kong in volume terms experienced a sharp decline in 2020, dropping 32.7% from the previous year to 501.5 tonnes. This followed a modest increase of 2.8% in 2019. Over the four-year span from 2017 to 2020, imports decreased by 39.9%, with an average annual decline of 15.6%.

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

During the period from 2017 to 2020, Malaysia, Thailand, and the Philippines were the key sources for Hong Kong's imports of these oils in volume terms, collectively accounting for 77.2% of total imports.

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

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

Imports in value, K $ US

The value of imported coconut, palm kernel, or babassu oil and fractions into Hong Kong fell for the third consecutive year. In 2020, imports totalled 1 510 thousand US dollars, a steep decline of 25.5% compared to 2019. From 2017 to 2020, imports decreased by 50.6%, with an average annual drop of 21.0%.

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

Throughout 2017 to 2020, Thailand, Malaysia, and the Philippines formed the core group of suppliers for Hong Kong's imports in value terms. Thailand accounted for 27.9% of imports, Malaysia for 21.4%, and the Philippines for 15.2%, together representing 64.5% of total import value.

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

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