Coconuts market in Latin America and the Caribbean

Earlier Report Observations

Between 2018 and 2021, coconut production in Latin America and the Caribbean remained relatively stable, hovering around 4.7 million tonnes. Market volume showed minor fluctuations during this period, while the market value in US dollars experienced a significant decline, indicating shifts in pricing or broader economic conditions.

Production entered a growth phase from 2022, rising to 5.1 million tonnes that year and reaching 5.3 million tonnes in 2023. This expansion was supported by the development of the coconut industry in key producing countries. In Colombia, the sector is a vital economic pillar for coastal communities, and in the Dominican Republic, the industry expanded due to growing international demand and recovery projects backed by international organizations.

Further momentum came from agricultural advances and rising demand for coconut derivatives like coconut water and coconut peat. In 2024, active regional trade, exemplified by dried coconut exports from Mexico to the United States and Colombia, alongside supportive regulatory policies in several countries, continued to strengthen the market's production base despite a lower overall market value.

Production coconuts in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of coconuts, 2017-2020

World map of production of coconuts, 2017-2020

In Latin America and the Caribbean, coconut production reached 4 692 thousand tonnes in 2020, showing a slight increase of 0.8% compared to the previous year. Over the period from 2017 to 2020, production grew by 2.6%, with an average annual growth rate of 0.9%. The highest production level was recorded in 2018 at 4 724 thousand tonnes, which represented a 3.3% increase. In contrast, 2019 saw the largest decline of 1.4%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K t

Exports coconuts from Latin America and the Caribbean

Exports in kind, t

Cross-border shipments of coconuts from Latin America and the Caribbean increased for the second consecutive year in 2020, reaching 32 010 tonnes. This marked a substantial rise of 16.7% compared to 2019. However, over the broader period from 2017 to 2020, exports decreased by 28%, equating to an annualized decline of 10.4%. The lowest export volume was recorded in 2018 at 23 802 tonnes, which saw the largest drop of 46.4%.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, t

From 2017 to 2020, coconut exports in kind from Latin America and the Caribbean were distributed across many countries. The United States accounted for 40.7% of these exports, Canada for 5.2%, and the Netherlands for 1.5%. Together, these three countries represented 47.4% of the total export flows.

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

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, K $ US

After a two-year decline, coconut deliveries from Latin America and the Caribbean increased in 2020, with export value recorded at 36 278 thousand US dollars. This represented a 17.5% rise from 2019. Over the period from 2017 to 2020, exports decreased by 10.4%, equating to an annualized decline of 3.6%. The lowest value was recorded in 2019 at 30 870 thousand US dollars, which saw the largest decline of 15.7%.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, K $ US

From 2017 to 2020, three principal markets—the United States, Canada, and the Netherlands—together accounted for 59.4% of the total export value of coconuts from Latin America and the Caribbean.

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

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports coconuts to Latin America and the Caribbean

Imports in kind, t

In 2020, coconut imports into Latin America and the Caribbean amounted to 37 943 tonnes, up by 4.2% year-over-year. Over the period from 2017 to 2020, imports increased by 7.4%, with an average annual growth rate of 2.4%. The highest import volume was recorded in 2018 at 39 223 tonnes, which saw an 11.0% increase. In contrast, 2019 experienced the largest decline of 7.2%.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, t

From 2017 to 2020, Indonesia, the Philippines, and the United States were the principal suppliers of coconuts to Latin America and the Caribbean in terms of volume. Indonesia accounted for 27.6% of imports in kind, the Philippines for 20.4%, and the United States for 9.1%. Together, these three countries represented 57.1% of total imports in kind.

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

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, K $ US

In 2020, coconut deliveries to Latin America and the Caribbean reached 59 621 thousand US dollars, corresponding to a robust increase of 13.6% compared to 2019. Over the period from 2017 to 2020, imports decreased by 13.5%, equating to an annualized decline of 4.7%. The lowest value was recorded in 2019 at 52 500 thousand US dollars, which saw the largest decline of 29.8%. The highest value was recorded in 2018 at 74 755 thousand US dollars.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, K $ US

Over the period from 2017 to 2020, the Philippines, Indonesia, and the United States stood out as the main markets for coconut imports in value terms. The Philippines accounted for 33.6% of imports in value, Indonesia for 33.5%, and the United States for 6.6%. Together, these three countries represented 73.6% of total import flows.

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

World map of product's imports to Latin America and the Caribbean in value, 2017-2020