Coconut, palm kernel or babassu oil and fractions market in South-eastern Asia

Earlier Report Observations

The market for not chemically modified coconut, palm kernel or babassu oil in South-eastern Asia expanded from 5.7 million tonnes in 2018 to 6.2 million tonnes in 2019, a period during which Indonesia and Malaysia served as top exporters, ensuring steady regional supply. Market volume then contracted to 5.8 million tonnes in 2020.

A recovery followed, with the market reaching 5.9 million tonnes in 2021 and growing further to 6.7 million tonnes in 2022. By 2023, volume stabilized at 6.6 million tonnes, supported by Indonesia's sustained export levels to key destinations like Pakistan, which indicated consistent production capacity meeting regional demand.

Recent trends show a notable shift towards refined products, with their share increasing by 16–17 percentage points over the past decade. Import prices in the Asia-Pacific region rose by 22–23% in 2024, reflecting broader supply-chain pressures, while consumer preferences moved towards cleaner, sustainably sourced oils and technological advancements improved processing efficiency.

Production coconut, palm kernel or babassu oil and fractions in South-eastern Asia

In kind, 2017-2020, K 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

Following two consecutive years of growth, production of coconut, palm kernel, or babassu oil and fractions in South-eastern Asia declined. In 2019, output reached its peak at 9 550 K t, but by 2020 it had fallen to 8 802 K t, representing a decrease of 7.8% from the previous year. The most significant increase occurred in 2018, with a growth rate of 6.4%.

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

In value, 2017-2020, M $ US

After two years of decline, the value of coconut, palm kernel, or babassu oil and fractions production in South-eastern Asia rebounded. In 2019, production hit its lowest point at 9 021 M $ US, but in 2020 it rose to 9 473 M $ US, marking a 5.0% increase year-over-year. Over the period from 2017 to 2020, overall production value decreased by 27.9%, with a compound annual growth rate of 10.4%. The sharpest decline was recorded in 2018, at 19.4%.

Annual dynamics of production in South-eastern Asia in value, 2017-2020, M $ US

Exports coconut, palm kernel or babassu oil and fractions from South-eastern Asia

Exports in kind, K t

Exports of coconut, palm kernel, or babassu oil and fractions from South-eastern Asia declined for the second year in a row. In 2018, exports peaked at 4 005 K t, but by 2020 they had dropped to 3 439 K t, a decrease of 1.1% from 2019. Over the 2017-2020 period, exports fell by 12.1%, with a compound annual growth rate of 4.2%. The largest decline occurred in 2019, at 13.2%, while the most notable increase was in 2018, at 2.3%.

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

From 2017 to 2020, China, the Netherlands, and the United States formed the core export markets in volume terms. China accounted for 22.2% of exports, the Netherlands for 19.6%, and the United States for 16.7%, together representing 58.5% of total export flows.

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

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

Exports in value, M $ US

Following two years of contraction, the value of coconut, palm kernel, or babassu oil and fractions exports from South-eastern Asia increased. In 2019, exports reached their lowest point at 3 285 M $ US, but in 2020 they rose to 3 701 M $ US, a 12.6% increase year-over-year. Over the 2017-2020 period, export value decreased by 35.9%, with a compound annual growth rate of 13.8%. The largest decline was recorded in 2019, at 26.6%.

Annual dynamics of product's exports from South-eastern Asia in value, 2017-2020, M $ US

Throughout 2017 to 2020, the Netherlands, China, and the United States remained the top three markets in value terms, collectively accounting for 59.6% of total export flows.

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

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

Imports coconut, palm kernel or babassu oil and fractions to South-eastern Asia

Imports in kind, K t

Import volumes of coconut, palm kernel, or babassu oil and fractions into South-eastern Asia showed significant volatility during this period. In 2019, imports hit their lowest point at 88 K t, but by 2020 they had surged to 390 K t, a dramatic increase of 341.9% year-over-year. The span from 2019 to 2020 saw a peak-to-trough amplitude of 4.4 times. The largest decline occurred in 2019, at 59.8%.

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

From 2017 to 2020, Papua New Guinea consistently held the leading position in import volumes of coconut, palm kernel, or babassu oil and fractions to South-eastern Asia, accounting for 4.2% of total flows.

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

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

Imports in value, M $ US

After two years of decrease, the value of coconut, palm kernel, or babassu oil and fractions imports into South-eastern Asia rose. In 2019, imports were at their minimum of 452 M $ US, but in 2020 they increased to 608 M $ US, marking a substantial rise of 34.4% year-over-year. Over the 2017-2020 period, import value decreased by 19.7%, with a compound annual growth rate of 7.1%. The largest decline was recorded in 2019, at 35.5%.

Annual dynamics of product's imports to South-eastern Asia in value, 2017-2020, M $ US

During 2017 to 2020, Papua New Guinea and India remained the largest sources for imports in value terms of coconut, palm kernel, or babassu oil and fractions to South-eastern Asia, together representing 5.0% of total flows.

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

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