Coconuts market in the Philippines

Earlier Report Observations

From 2018 to 2019, the coconut market volume in the Philippines remained stable at around 14.6 million tonnes. This period was characterized by ongoing challenges with low productivity due to aging trees and pests, which constrained supply growth, even as the Philippine Coconut Authority (PCA) worked on training programs to improve copra quality and farmer incomes.

Market volume dipped to 14.3 million tonnes in 2020. However, the COVID-19 pandemic shifted consumer behavior, boosting demand for health-focused products like virgin coconut oil. This growing interest, along with supportive U.S. trade policies, set the stage for recovery. The market rebounded to 14.5 million tonnes in 2021, fueled by a surge in global coconut oil prices and a Department of Science and Technology (DOST) study promoting virgin coconut oil as a potential adjunct therapy for COVID-19. Major exporter Axelum reported high double-digit growth, benefiting from strong demand. Growth continued into 2022, with volume reaching 14.7 million tonnes, driven by the PCA's reported expansion in demand for value-added products such as coconut sugar and activated carbon from coconut husks.

By 2023, the market volume stabilized at 14.7 million tonnes. Global demand for coconut oil and related products remained robust, supported by persistent health and wellness trends. The industry focused on diversifying its product range, improving traceability and certification standards, and implementing sustainable practices like replanting programs to address long-term supply concerns.

Production coconuts in the Philippines

In kind, 2017-2020, K t

The Philippines held the second position globally in coconut production from 2017 to 2020.

Top producers of coconuts, 2017-2020

World map of production of coconuts, 2017-2020

Following two years of growth, coconut production in the Philippines experienced a decline. In 2020, the country produced 14 491 K t of coconuts, representing a 1.9% decrease compared to the previous year. Over the 2017-2020 period, production rose by 3.1%, with an average annual growth rate of 1.0%. The highest production volume was recorded in 2019 at 14 765 K t, while the most significant increase occurred in 2018 with a 4.8% rise.

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

Exports coconuts from the Philippines

Exports in kind, K t

The market showed notable fluctuations during this period. Exports reached their lowest point in 2018 at 122.9 K t and peaked in 2017, with a 7.7-fold difference between these years. In 2020, the Philippines exported 147.0 K t of coconuts, reflecting a moderate contraction of 7.3% from 2019. The largest decline was observed in 2018 at 87.1%, while the most substantial increase occurred in 2019 with a 29.0% rise.

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

From 2017 to 2020, Canada, the United States, and the Netherlands were the leading destinations for Philippine coconut exports in volume terms. Canada accounted for 60.2% of exports, followed by the United States at 11.3% and the Netherlands at 6.1%. Together, these three countries represented 77.6% of total export flows.

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

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

Exports in value, M $ US

After two consecutive years of decline, the value of coconut exports from the Philippines increased. In 2020, exports reached 262.6 M $ US, up by 1.3% compared to the previous year. Between 2017 and 2020, however, exports decreased by 23.6%, equivalent to an annualized decline of 8.6%. The lowest value was recorded in 2019 at 259.1 M $ US, with the most significant drop occurring in 2018 at 17.1%.

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

During the 2017-2020 period, coconut exports from the Philippines in value terms were relatively evenly distributed. The United States accounted for 28.6% of exports, the Netherlands for 14.0%, and Australia for 6.3%. Collectively, these three destinations represented 48.9% of total export value.

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

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

Imports coconuts to the Philippines

Imports in kind, K t

The market exhibited considerable volatility during these years. Import volumes bottomed out in 2020 and peaked in 2019, with a 16-fold difference between these extremes. In 2020, the Philippines imported 0.0 K t of coconuts, marking a sharp decrease of 93.9% from the previous year. The highest import volume was recorded in 2019 at 0.3 K t, with the most substantial increase occurring that same year at 504.1%.

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

From 2017 to 2020, the United States, Vietnam, and Canada were the primary sources for coconut imports to the Philippines in volume terms. The United States accounted for 61.0% of imports, Vietnam for 7.6%, and Canada for 7.2%. Together, these three countries represented 75.8% of total import flows.

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

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

Imports in value, M $ US

Market behavior was characterized by volatility during this period. Import values reached their lowest point in 2020 and peaked in 2019, with a 7-fold difference between these years. In 2020, coconut imports to the Philippines were recorded at 0.0 M $ US, reflecting an 85.8% decline from the previous year. The highest value was observed in 2019 at 0.2 M $ US, with the most significant increase occurring that same year at 517.6%.

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

Between 2017 and 2020, the United States, Vietnam, and South Korea formed the main group of sources for coconut imports to the Philippines in value terms. The United States accounted for 50.0% of imports, Vietnam for 13.5%, and South Korea for 12.2%. Collectively, these three countries represented 75.7% of total import value.

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

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