Coconut, palm kernel or babassu oil and fractions market in Saint Vincent and the Grenadines

Earlier Report Observations

The market for coconut, palm kernel or babassu oil and fractions in Saint Vincent and the Grenadines expanded significantly from 2018 to 2021, with volume growing from 178.4 t to 266.9 t. This period of growth was interrupted by a sharp downturn beginning in 2022.

Market volume nearly halved from its 2021 peak, falling to 143.8 t in 2022 and then to 133.0 t in 2023. The rapid contraction marked a clear reversal of the previous upward trend in overall consumption.

Production coconut, palm kernel or babassu oil and fractions in Saint Vincent and the Grenadines

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

After two years of decline, Saint Vincent and the Grenadines saw an increase in its production of coconut, palm kernel, or babassu oil and fractions. In 2019, production hit its lowest point at 147.6 tonnes, but then rebounded sharply in 2020 to 243.2 tonnes, marking a 64.8% increase from the previous year. Over the period from 2017 to 2020, overall production grew by 28.5%, with an average annual growth rate of 8.7%. The most significant drop occurred in 2018, when production fell by 19.0%.

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

Exports coconut, palm kernel or babassu oil and fractions from Saint Vincent and the Grenadines

Exports in kind, kg

For the third year in a row, Saint Vincent and the Grenadines increased its exports of coconut, palm kernel, or babassu oil and fractions. In 2020, the country exported 2 531 kg, showing a moderate gain of 4.0% compared to 2019. From 2017 to 2020, exports more than doubled, rising by 100.9%, which translates to an average annual growth rate of 26.2%.

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

Between 2017 and 2020, the main destinations for Saint Vincent and the Grenadines' exports of coconut, palm kernel, or babassu oil and fractions were Saint Kitts and Nevis, accounting for 34.4% of exports in kind, British Virgin Islands with 27.0%, and Antigua and Barbuda at 8.9%. Together, these three markets made up 70.3% of the total export flows.

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

For the third consecutive year, Saint Vincent and the Grenadines experienced growth in the value of its coconut, palm kernel, or babassu oil and fractions exports. In 2020, exports reached 21 699 US dollars, up by 48.9% from the previous year. Over the 2017-2020 period, export value surged by 403.5%, with an impressive average 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, the key markets for Saint Vincent and the Grenadines' exports in value terms were Saint Kitts and Nevis, which held 36.9% of the share, British Virgin Islands at 32.1%, and Grenada with 6.9%. Combined, these three destinations accounted for 76.0% of the 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, palm kernel or babassu oil and fractions to Saint Vincent and the Grenadines

Imports in kind, kg

The import market for coconut, palm kernel, or babassu oil and fractions in Saint Vincent and the Grenadines showed significant volatility during these years. In 2019, imports peaked at 52 109 kg, but then plummeted in 2020 to 8 687 kg, a sharp decline of 83.3%. This drop created a six-fold difference between the two years. The largest increase occurred in 2018, with imports jumping by 203.1%.

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 imports of coconut, palm kernel, or babassu oil and fractions to Saint Vincent and the Grenadines, accounting for 99.0% of the total import flows in kind.

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

Import values for coconut, palm kernel, or babassu oil and fractions in Saint Vincent and the Grenadines displayed irregular changes, reflecting a volatile market. In 2019, imports reached their highest point at 73 214 US dollars, but fell to 31 086 US dollars in 2020, a steep decline of 57.5%. This resulted in a 2.4-fold difference between the two years. The most notable increase was in 2018, with a rise of 73.0%.

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

Between 2017 and 2020, Saint Vincent and the Grenadines relied heavily on Trinidad and Tobago for imports in value terms, with this market making up 96.7% of the total import value for coconut, palm kernel, or babassu oil and fractions.

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