Coconuts market in Central America

Earlier Report Observations

Central America's coconut market experienced a gradual contraction from 2018 to 2021, with production falling from 1 306 thousand tons to 1 207 thousand tons and market volume shrinking from 1 299 thousand tons to 1 184 thousand tons over the period.

The trend reversed in 2022 as production rebounded to 1 274 thousand tons and market volume grew to 1 246 thousand tons. This recovery was supported by the new administration in Honduras, which prioritized the development and modernization of the manufacturing and agribusiness sectors to stimulate growth and employment. Simultaneously, Panama's established regulatory framework for organic products, with strict certification and labeling requirements, began shaping market access and potentially increasing the value of agricultural outputs like coconuts.

Production slightly stabilized at 1 253 thousand tons in 2023 against a backdrop of evolving regional regulations. Costa Rica's debate on front-of-package nutritional warning labels and the ongoing application of food labeling norms influenced the marketing of coconut-derived products, while Honduras' state policy for the agri-food sector set long-term guidelines for sustainable development. Export volumes continued to rise, reaching 35 thousand tons in 2023, reflecting growing external demand.

Production coconuts in Central America

In kind, 2017-2020, K t

Top producers of coconuts, 2017-2020

World map of production of coconuts, 2017-2020

Central America's coconut production declined for the second year in a row. In 2020, the region produced 1,202 thousand tons of coconuts, marking a slight decrease of 2.7% compared to the previous year. Looking at the period from 2017 to 2020, production fell by 7.9%, which translates to an average annual decline of 2.7%. The highest production level was recorded in 2018 at 1,306 thousand tons. The most significant drop occurred in 2019 with a 5.4% decrease, while the largest increase was in 2018 at 0.1%.

Annual dynamics of production in Central America in kind, 2017-2020, K t

Exports coconuts from Central America

Exports in kind, t

Central America's coconut exports grew for the second consecutive year. In 2020, the region exported 14,143 tons of coconuts, which is 16.9% higher than the previous year. However, over the 2017-2020 period, exports decreased by 39.5%, with an average annual decline of 15.4%. The lowest export volume was in 2018 at 8,671 tons. The sharpest decline happened in 2018 with a 62.9% drop, while the largest increase was in 2019 at 39.5%.

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

From 2017 to 2020, the United States, Canada, and the Netherlands were the top destinations for Central America's coconut exports in volume terms. The United States accounted for 67.9% of exports, Canada for 5.3%, and the Netherlands for 4.5%. Together, these three countries made up 77.7% of total export flows.

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

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

Exports in value, K $ US

After two years of decline, Central America's coconut exports in value terms showed an increase. In 2020, exports amounted to 12,888 thousand US dollars, with only a minor change compared to 2019. Over the 2017-2020 period, exports decreased by 28.7%, averaging an annual decline of 10.7%. The lowest value was recorded in 2019 at 12,819 thousand US dollars. The most significant drop occurred in 2018 with a 20.6% decrease.

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

Between 2017 and 2020, the United States dominated Central America's coconut exports in value terms, representing 86.8% of total flows. Other markets contributed smaller shares, forming a long tail of minor partners.

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

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

Imports coconuts to Central America

Imports in kind, t

In 2020, Central America imported 1,542 tons of coconuts, reflecting a sharp contraction of 22.7% from the previous year. Over the 2017-2020 period, imports decreased by 15.6%, with an average annual decline of 5.5%. The highest import volume was in 2019 at 1,996 tons. The largest increase occurred in 2019 with a 15.0% rise.

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

From 2017 to 2020, the Philippines, Indonesia, and the United States were the leading suppliers of coconuts to Central America in volume terms. The Philippines accounted for 35.7% of imports, Indonesia for 7.4%, and the United States for 2.1%. Collectively, these three countries represented 45.1% of total import volumes.

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

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

Imports in value, K $ US

Central America's coconut imports in value terms declined for the third consecutive year. In 2020, imports totaled 3,291 thousand US dollars, showing a modest decrease of 3.3% compared to the previous year. Over the 2017-2020 period, imports fell by 27.3%, with an average annual decline of 10.1%.

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

Throughout 2017-2020, the Philippines and Indonesia accounted for 82.4% of Central America's coconut imports in value terms. The remaining share was distributed among other destinations, each with smaller individual contributions.

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

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