Coconuts market in Venezuela

Earlier Report Observations

The coconut market in Venezuela contracted significantly between 2018 and 2023, with production falling from 211 thousand tons to 131 thousand tons. This decline was initially driven by persistent low national productivity and agronomic challenges such as climate, pests, and farm management, which have historically limited output. The period also saw the launch and operation of the online platform Coco Mercado, a new player that facilitated access to goods from abroad for Venezuelan families, though it did not alter the downward trajectory of domestic supply.

Market volume showed volatility after 2019, with a slight uptick in 2020 followed by a sharp drop to 130 thousand tons in 2021. Production partially recovered in 2022 before decreasing again in 2023, with the market size settling at 127 thousand tons. These fluctuations occurred without specific regulatory or major market events reported for those years.

Production coconuts in Venezuela

In kind, 2017-2020, K t

From 2017 to 2020, Venezuela ranked 21st globally in coconut production.

Top producers of coconuts, 2017-2020

World map of production of coconuts, 2017-2020

In 2020, Venezuela produced 184.0 K t of coconuts, marking a 2.3% increase from the previous year. Over the period from 2017 to 2020, production decreased by 8.5%, which translates to an annualized decline of 2.9%. The lowest production level was recorded in 2019 at 179.9 K t, while the peak occurred in 2018 with 211.2 K t. The most significant drop in production was in 2019, falling by 14.8%, whereas the largest increase was in 2018, rising by 5.0%.

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

Exports coconuts from Venezuela

Exports in kind, t

Venezuela's coconut exports declined for the second year in a row. In 2020, exports reached 2 150 t, showing a modest decrease of 9.3% compared to 2019. From 2017 to 2020, exports fell by 18.2%, averaging an annual decline of 6.5%. The highest export volume was in 2018 at 4 003 t. The sharpest decline occurred in 2019, dropping by 40.8%, while the largest increase was in 2018, rising by 52.3%.

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

Between 2017 and 2020, Venezuela's coconut exports were heavily concentrated, with Colombia accounting for 92.5% of the total volume.

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

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

Exports in value, K $ US

In 2020, Venezuela exported coconuts worth 414.4 K $ US, representing a 29.0% increase from the previous year. Over the 2017-2020 period, export value decreased by 29.9%, with an annualized decline of 11.2%. The lowest value was recorded in 2019 at 321.2 K $ US, while the peak was in 2018 at 799.7 K $ US. The most significant drop occurred in 2019, falling by 59.8%, and the largest increase was in 2018, rising by 35.2%.

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

From 2017 to 2020, Colombia dominated Venezuela's coconut exports in value terms, capturing 87.5% of the total, with other countries holding much smaller shares.

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

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

Imports coconuts to Venezuela

Imports in kind, t

In 2020, Venezuela imported 120 t of coconuts, a substantial decline of 23.3% from the previous year. Over the 2017-2020 period, imports decreased by 16.5%, with an annualized decline of 5.8%. The lowest import volume was in 2018 at 104 t, while the highest was in 2019 at 157 t. The largest decline occurred in 2018, dropping by 28.2%, and the biggest increase was in 2019, rising by 51.7%.

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

Between 2017 and 2020, Vietnam and the Philippines were the leading sources for Venezuela's coconut imports, together making up 94.9% of the total volume, with the remainder spread across various other countries.

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

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

Imports in value, K $ US

Import values showed considerable volatility during these years, fluctuating 3.5 times between the high in 2018 and the low in 2020. In 2020, coconut imports totaled 238.8 K $ US, down by 42.9% from the previous year. The peak value was recorded in 2018 at 847.8 K $ US. The largest decline occurred in 2019, falling by 50.7%, while the biggest increase was in 2018, rising by 169.9%.

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

From 2017 to 2020, Vietnam accounted for the majority of Venezuela's coconut imports in value terms, with 71.3% of the total, while other markets contributed smaller, fragmented shares.

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

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