Coconut, palm kernel or babassu oil and fractions market in Jamaica

Earlier Report Observations

The Jamaican market for coconut, palm kernel or babassu oil and fractions contracted significantly in 2019, with volume dropping to 10 631 tonnes from 11 964 tonnes the previous year. This lower level held through 2020 at 10 538 tonnes, marking a clear two-year downturn. From 2021 onwards, however, the market entered a phase of sustained expansion, growing by over 40% across the next three years.

Domestic production followed a similar trajectory, declining from 11 000 tonnes in 2018 to a low of 9 443 tonnes in 2020 before recovering robustly to 13 550 tonnes by 2023. Import volumes varied during the period, with a notable increase to 1 390 tonnes in 2023 supplementing the domestic supply.

By the end of 2023, the total market volume had reached 14 939 tonnes, surpassing the 2018 starting point by nearly 25% and establishing a new high for the period.

Production coconut, palm kernel or babassu oil and fractions in Jamaica

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

Jamaica's production of coconut, palm kernel, or babassu oil and fractions has declined for the third year in a row. In 2020, the country produced 9 443 tonnes, marking a 1.6% year-over-year decrease. Over the period from 2017 to 2020, production fell by 15.7%, with an average annual decline of 5.5%.

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

Exports coconut, palm kernel or babassu oil and fractions from Jamaica

Exports in kind, t

Jamaica's exports of coconut, palm kernel, or babassu oil and fractions have increased for the second consecutive year. In 2020, the country exported 9 tonnes, showing a sharp rise of 49.8% compared to the previous year. Over the 2017-2020 period, exports grew by 42.1%, with an average annual growth rate of 12.4%. The lowest export volume was recorded in 2018 at 6 tonnes, which also saw the largest decline of 7.4%.

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

From 2017 to 2020, the Cayman Islands, Trinidad and Tobago, and Antigua and Barbuda were the top buyers of Jamaica's coconut, palm kernel, or babassu oil and fractions in volume terms. The Cayman Islands accounted for 51.5% of exports, Trinidad and Tobago for 14.1%, and Antigua and Barbuda for 13.2%. Together, these three destinations made up 78.7% of Jamaica's total exports in kind.

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

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

Exports in value, K $ US

In 2020, Jamaica's exports of coconut, palm kernel, or babassu oil and fractions in value terms amounted to 53 thousand US dollars, down by 3.1% from 2019. Between 2017 and 2020, exports decreased by 7.1%, equivalent to an average annual decline of 2.4%. The lowest value was recorded in 2018 at 39 thousand US dollars, which also experienced the largest decline of 31.9%. In contrast, 2019 saw the largest increase of 40.7%.

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

From 2017 to 2020, the Cayman Islands, Trinidad and Tobago, and Antigua and Barbuda led as the top buyers of Jamaica's coconut, palm kernel, or babassu oil and fractions in value terms. The Cayman Islands held a 27.2% share, Trinidad and Tobago 23.9%, and Antigua and Barbuda 11.7%. Combined, these three markets accounted for 62.8% of Jamaica's total export value.

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

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

Imports coconut, palm kernel or babassu oil and fractions to Jamaica

Imports in kind, t

Jamaica's imports of coconut, palm kernel, or babassu oil and fractions have risen for the second year in a row. In 2020, the country imported 1 104 tonnes, reflecting a moderate increase of 6.5% year-over-year. Over the 2017-2020 period, imports grew by 4.3%, with an average annual growth rate of 1.4%. The lowest import volume was in 2018 at 969 tonnes, which also saw the largest decline of 8.5%. The largest increase occurred in 2019, with a 7.0% rise.

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

Between 2017 and 2020, Trinidad and Tobago was the primary source for Jamaica's imports of coconut, palm kernel, or babassu oil and fractions in volume terms, accounting for 88.4% of total imports. The remaining volume was distributed among various other countries.

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

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

Imports in value, K $ US

After two years of decline, Jamaica's imports of coconut, palm kernel, or babassu oil and fractions in value terms increased in 2020. Imports reached 3 768 thousand US dollars, up by 13.8% from the previous year. Over the 2017-2020 period, imports rose by 8.9%, with an average annual growth rate of 2.9%. The lowest value was recorded in 2019 at 3 311 thousand US dollars. The largest decline occurred in 2018 at 4.2%.

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

From 2017 to 2020, Trinidad and Tobago remained the leading supplier of coconut, palm kernel, or babassu oil and fractions to Jamaica in value terms, with a share of 89.8% of total imports. The rest was spread across numerous other countries.

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

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