Coconuts market in China

Earlier Report Observations

The total coconut market volume in China grew consistently from 865 000 t in 2018 to 1.59 million t in 2023, primarily fueled by a surge in imports from Southeast Asia. During this period, domestic production faced challenges, including limited mechanization and low added value, which contributed to its relative stagnation. The market's expansion in physical terms was not fully mirrored in value by 2023, indicating a shift in pricing dynamics.

Strong growth in 2022 and 2023 was directly linked to record-high coconut imports, which reached 1.22 million t in 2023, facilitated by a diversified supply base from Indonesia, Thailand, and Vietnam. This import wave was driven by booming demand from the coconut beverage industry, where the plant-based trend and frequent use of coconut elements by over 90% of tea drink brands significantly broadened consumption. The entry and dominance of brands like IF in the coconut water segment intensified competition, putting downward pressure on market prices even as volumes increased.

In 2024, while full-year market volume data is unavailable, imports declined. The market continued to be shaped by structural developments, including China's approval of fresh coconut imports from Vietnam, Indonesia, and Cambodia, which lowered logistics costs. Domestic initiatives like Hainan's 'Million Acres of Coconut Forest' project aimed to reduce import dependency. Furthermore, the introduction of industry standards for coconut milk and coconut water, alongside the strong performance of leading brands such as Coconut Palm, which exceeded CNY 50 billion in turnover, points to ongoing market maturation and brand consolidation.

Production coconuts in China

In kind, 2017-2020, K t

From 2017 to 2020, China maintained the 16th position globally in coconut production volume.

Top producers of coconuts, 2017-2020

World map of production of coconuts, 2017-2020

China's coconut production volume declined for the second consecutive year. In 2020, production remained stable year-on-year at 365.7 thousand tonnes. Between 2017 and 2020, production increased by 11.8%, averaging an annual growth rate of 3.8%. The highest production was recorded in 2018 at 403.0 thousand tonnes, which represented a 23.2% increase. The largest decline occurred in 2019, with an 8.9% drop.

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

In value, 2017-2020, M $ US

Coconut production in China declined for the third consecutive year. In 2020, the output was valued at 278.5 million US dollars, reflecting a substantial decline of 19.0% compared to the previous year. Between 2017 and 2020, production decreased by 36.7%, averaging an annual decline of 14.1%.

Annual dynamics of production in China in value, 2017-2020, M $ US

Exports coconuts from China

Exports in kind, K t

The market showed signs of volatility over the observed period. The lowest export volume was registered in 2017, while the highest was in 2019, reflecting a 4.5-fold gap. In 2020, China exported 0.5 thousand tonnes of coconuts, showing a substantial fall of 22.9% from the previous year. The maximum value was recorded in 2019 at 0.7 thousand tonnes, following the largest increase of 150.2% in 2018.

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

From 2017 to 2020, Bangladesh (47.0% of exports in kind), Macao (27.2% of exports in kind), and Uzbekistan (5.8% of exports in kind) were the top buyers of coconuts from China, with their combined share reaching 79.9% of total exports in kind.

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

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

Exports in value, M $ US

The data reveals irregular changes, indicating a volatile market environment. A 3.2-fold variation was observed between the minimum in 2017 and the maximum in 2019. In 2020, cross-border shipments of coconuts from China totalled 0.4 million US dollars, showing a fall of 37.4% versus the previous year. The maximum value was recorded in 2019 at 0.6 million US dollars, following the largest increase of 90.6% in 2018.

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

Throughout 2017 to 2020, Bangladesh (44.2% of exports in value terms), Hong Kong (10.8% of exports in value terms), and Macao (8.8% of exports in value terms) formed the core group of markets for exports in value terms, together representing 63.7% of total flows.

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

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

Imports coconuts to China

Imports in kind, K t

After a two-year gain, China's coconut import volumes declined. In 2020, imports amounted to 651.5 thousand tonnes, down by 3.2% compared to 2019. Over the period 2017 to 2020, imports increased by 65.8%, with a compound annual growth rate of 18.3%. The maximum value was recorded in 2019 at 673.2 thousand tonnes, which also saw the largest increase of 45.6%.

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

From 2017 to 2020, Indonesia (40.7% of imports in kind), Thailand (33.4% of imports in kind), and Vietnam (21.2% of imports in kind) were the principal sources for imports in kind, jointly accounting for 95.4% of total flows.

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

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

Imports in value, M $ US

The value of coconut imports to China increased for the third consecutive year. In 2020, China imported 321.4 million US dollars worth of coconuts, showing a moderate increase of 5.4% from the previous year. Over the period 2017 to 2020, imports increased by 70.3%, with a compound annual growth rate of 19.4%.

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

From 2017 to 2020, Thailand and Indonesia formed a dominant pair of markets for imports in value terms, jointly accounting for 81.3% of total flows, while other countries represented the residual share.

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

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