Copra market in India

Earlier Report Observations

In 2018, the Indian government increased the Minimum Support Price for both milling and ball copra, a measure aimed at ensuring farmer returns and stabilizing supply. This policy helped maintain market volume near 760 thousand tonnes through 2019. However, in 2020, the COVID-19 pandemic caused severe disruptions in coconut harvesting and logistics, leading to a significant contraction in copra production and pulling the market volume down to 621 thousand tonnes.

The post-pandemic period saw copra prices trend downward, which drove a substantial decline in the market's value from $1.7 billion in 2019 to $764 million by 2023. During these years, steady demand growth from industries processing desiccated coconut powder, coconut milk, and virgin coconut oil, coupled with strong exports, provided underlying support for market volume, which stabilized between 610 and 620 thousand tonnes. By 2024, the government approved another MSP increase to incentivize production, while early monsoon rains and droughts in major producing states like Kerala, Tamil Nadu, and Karnataka affected mature coconut availability for copra processing.

Production copra in India

In kind, 2017-2020, K t

From 2017 to 2020, India maintained the third position globally in copra production volume.

Top producers of copra, 2017-2020

World map of production of copra, 2017-2020

In 2020, India produced 610.0 K t of copra, marking an 18.7% decline compared to 2019. Over the period from 2017 to 2020, production decreased by 18.7%, which translates to an annualized rate of 6.7%. The largest increase occurred in 2018, at 0.0%.

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

Exports copra from India

Exports in kind, t

India's foreign copra supplies increased for the second consecutive year. In 2020, exports reached 2 288 t, showing a 0.6% rise compared to 2019. From 2017 to 2020, exports decreased by 61.8%, with a compound annual growth rate (CAGR) of 27.5%. The minimum value was recorded in 2018 at 2 163 t. The largest decline occurred in 2018, at 63.9%, while the largest increase was in 2019, at 5.1%.

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

Between 2017 and 2020, Nepal and Bangladesh accounted for the majority of India's copra exports in kind, with other markets playing a less significant role.

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

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

Exports in value, K $ US

In 2020, copra deliveries from India amounted to 4 457 K $ US, reflecting a sharp contraction of 11.9% compared to 2019. Over the 2017-2020 period, exports decreased by 47.6%, with a CAGR of 19.4%. The largest decline was recorded in 2018 at 45.3%, while the largest increase occurred in 2019 at 8.7%.

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

From 2017 to 2020, Nepal (57.0% of exports in value terms), Bangladesh (19.0%), and Vietnam (6.5%) were the largest buyers of copra from India, collectively forming 82.5% of total exports in value terms.

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

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

Imports copra to India

Imports in kind, t

The market displayed an unstable trend throughout the timeframe. From 2017 to 2019, there was a peak-to-trough amplitude of 11.6 times. In 2020, India's copra imports stood at 13 018 t, showing negligible variation compared to 2019. The maximum value was recorded in 2019 at 13 043 t, and the largest increase occurred in 2018 at 996.4%.

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

Between 2017 and 2020, Indonesia effectively concentrated imports in kind of copra to India, with a share of 99.7% of total flows.

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

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

Imports in value, K $ US

The market showed signs of volatility over the observed period. Imports reached their lowest point in 2017 and peaked in 2018, with an 8.7-fold difference between these years. In 2020, India's copra import volume amounted to 11 678 K $ US, representing a 12.5% increase compared to the previous year. The maximum value was recorded in 2018 at 13 964 K $ US. The largest decline occurred in 2019 at 25.7%, while the largest increase was in 2018 at 769.9%.

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

Over 2017–2020, Indonesia was the key and almost sole market for imports in value terms of copra to India, accounting for 99.7% of total flows.

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

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