Coconut, palm kernel or babassu oil and fractions market in Trinidad and Tobago

Earlier Report Observations

The market volume for unmodified coconut, palm kernel, or babassu oil in Trinidad and Tobago grew from 3 468 t in 2018 to a peak of 5 060 t in 2022, supported by increasing imports which rose from 3 338 t to 4 761 t over the same period. After this peak, the market contracted to 4 249 t in 2023 as imports declined to 4 311 t and exports increased to 1 385 t.

In 2024, import volumes fell to 3 851 t and exports dropped to 1 027 t. A strike by 1 000 members of the Maritime and Port Workers' Union in Port of Spain during February 2024 disrupted port logistics, likely hindering the shipment of both imported and exported oils. Furthermore, the implementation of the Special Economic Zones Act, which was approved in January 2022 and fully operational by 2024, began to influence market access and investment flows for industrial sectors including vegetable oils.

Production coconut, palm kernel or babassu oil and fractions in Trinidad and Tobago

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 a two-year decline, production of coconut, palm kernel, or babassu oil and fractions in Trinidad and Tobago has rebounded. In 2020, the country produced 1 250 tonnes, marking a 1.5% year-over-year improvement. However, looking at the broader period from 2017 to 2020, overall production decreased by 4.3%, which translates to an average annual decline of 1.4%. The lowest production level was recorded in 2019 at 1 231 tonnes, with that year also seeing the largest drop of 3.7%.

Annual dynamics of production in Trinidad and Tobago in kind, 2017-2020, t

In value, 2017-2020, K $ US

In 2020, the output of coconut, palm kernel, or babassu oil and fractions in Trinidad and Tobago was valued at 4 663 thousand US dollars, reflecting a 7.7% increase compared to the previous year. Over the 2017-2020 period, production value grew by 12%, with a compound annual growth rate of 3.9%. The largest decline occurred in 2019 at 4.2%, while the most significant increase was in 2018 at 8.5%.

Annual dynamics of production in Trinidad and Tobago in value, 2017-2020, K $ US

Exports coconut, palm kernel or babassu oil and fractions from Trinidad and Tobago

Exports in kind, t

Following a two-year reduction, export volumes of coconut, palm kernel, or babassu oil and fractions from Trinidad and Tobago have increased. In 2020, the country exported 1 194 tonnes, up 4.1% from 2019. However, from 2017 to 2020, exports overall decreased by 16.2%, averaging an annual decline of 5.7%. The lowest export volume was in 2019 at 1 147 tonnes, with the largest drop recorded in 2018 at 19.3%.

Annual dynamics of product's exports from Trinidad and Tobago in kind, 2017-2020, t

Between 2017 and 2020, Jamaica was the primary destination for exports in kind, accounting for 75.3% of the total. The remaining exports were distributed among a diverse group of smaller countries.

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

World map of product's exports from Trinidad and Tobago in kind, 2017-2020

Exports in value, K $ US

After a two-year decrease, export shipments of coconut, palm kernel, or babassu oil and fractions from Trinidad and Tobago have risen. In 2020, export value reached 4 453 thousand US dollars, a 10.4% increase year-over-year. The lowest value was in 2019 at 4 032 thousand US dollars, with the largest decline occurring in 2018 at 10.6%.

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

From 2017 to 2020, Jamaica remained the leading destination for exports in value terms, capturing 74.9% of total flows. The rest was spread across various smaller markets.

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

World map of product's exports from Trinidad and Tobago in value, 2017-2020

Imports coconut, palm kernel or babassu oil and fractions to Trinidad and Tobago

Imports in kind, t

Import volumes of coconut, palm kernel, or babassu oil and fractions into Trinidad and Tobago have increased for the second consecutive year. In 2020, imports amounted to 3 844 tonnes, an 8.4% rise compared to 2019. Over the 2017-2020 period, imports grew by 4.9%, with an average annual increase of 1.6%. The lowest import volume was in 2018 at 3 338 tonnes, which also saw the largest decline of 8.9%.

Annual dynamics of product's imports to Trinidad and Tobago in kind, 2017-2020, t

During 2017-2020, Malaysia and Indonesia dominated imports in kind, together accounting for 96.3% of total flows. Other countries made up the remaining share.

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

World map of product's imports to Trinidad and Tobago in kind, 2017-2020

Imports in value, K $ US

After a two-year decrease, import volumes of coconut, palm kernel, or babassu oil and fractions into Trinidad and Tobago have increased. In 2020, imports totaled 4 348 thousand US dollars, showing a modest 4.0% improvement over the previous year. However, from 2017 to 2020, imports overall decreased by 33.4%, averaging an annual decline of 12.7%. The lowest value was recorded in 2019 at 4 180 thousand US dollars, with the largest drop in 2018 at 25.3%.

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

In the 2017-2020 period, Indonesia and Malaysia were the dominant sources for imports in value terms, jointly accounting for 89.0% of total flows. Other destinations contributed smaller individual shares.

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

World map of product's imports to Trinidad and Tobago in value, 2017-2020