Copra market in Latin America and the Caribbean

Earlier Report Observations

The copra market in Latin America and the Caribbean expanded from 303.5 thousand tonnes in 2018 to 328.1 thousand tonnes in 2020. This growth was primarily driven by accelerated industrial demand for coconut oil extraction and increasing domestic consumption habits in emerging economies across the region. In 2019, the momentum continued as the food, cosmetics, and oil processing sectors sustained higher demand for copra. Even the COVID-19 pandemic in 2020 did not derail the market; post-pandemic recovery efforts helped maintain supply chains and supported regional consumption, leading to a further rise in market volume.

After a slight contraction to 320.8 thousand tonnes in 2021—where social protection programs and economic recovery measures helped stabilize the market—growth resumed in 2022. The market reached 333.7 thousand tonnes that year, fueled by strong demand from the food and cosmetics industries, which valued copra for its applications. In 2023, the volume climbed to 338.4 thousand tonnes, aided by the recovery of international trade and deeper regional integration, which improved supply conditions and market stability.

Production copra in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of copra, 2017-2020

World map of production of copra, 2017-2020

Latin America and the Caribbean saw their copra production volume rise for the second year in a row. In 2020, the region produced 328.0 K t of copra, marking a 2.9% increase compared to 2019. Looking at the period from 2017 to 2020, production grew by 6.3%, which translates to an average annual growth rate of 2.1%. The lowest production level was recorded in 2018 at 303.3 K t, when output fell by 1.7%. In contrast, 2019 saw the largest increase, with production jumping by 5.1%.

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

Exports copra from Latin America and the Caribbean

Exports in kind, kg

Copra exports from Latin America and the Caribbean to foreign markets dropped for the third consecutive year. In 2020, exports stood at just 83 kg, representing a dramatic year-over-year decline of 99.4%. From 2017 to 2020, exports plummeted by 99.8%, averaging an annual decrease of 87.3%.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, kg

Between 2017 and 2020, France and the United States were the top two destinations for copra exports in volume terms. France accounted for 0.9% of total export flows, while the United States made up 0.7%. Together, these two countries received 1.5% of all exports from the region.

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

The value of copra exports from Latin America and the Caribbean fell for the third year in a row. In 2020, the region exported 0.1 K $ US worth of copra, a drop of 99.1% compared to the previous year. Over the 2017-2020 period, export value decreased by 99.8%, with a compound annual growth rate (CAGR) of -86.9%.

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

From 2017 to 2020, France, the United States, and Germany were the leading destinations for copra exports in value terms from Latin America and the Caribbean. France accounted for 2.3% of export value, the United States for 1.4%, and Germany for 0.8%. Combined, these three countries represented 4.6% of total export flows.

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 copra to Latin America and the Caribbean

Imports in kind, kg

Copra imports into Latin America and the Caribbean decreased for the second consecutive year. In 2020, imports totaled 97 083 kg, down 32.3% year-over-year. Over the 2017-2020 period, imports fell by 15%, with a CAGR of -5.3%. The highest import volume was recorded in 2018 at 152 107 kg, when imports surged by 33.2%.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, kg

During 2017-2020, the United States was the primary source for copra imports in volume terms to Latin America and the Caribbean, accounting for 3.6% of total import flows.

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

The value of copra imports into Latin America and the Caribbean declined for the second year in a row. In 2020, imports were valued at 119.9 K $ US, showing a significant reduction of 18.0% compared to 2019. From 2017 to 2020, import value dropped by 20%, with a CAGR of -7.2%. The peak was in 2018 at 187.0 K $ US, when imports rose by 24.8%. In contrast, 2019 saw the sharpest decline, with imports falling by 21.8%.

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

From 2017 to 2020, the United States was the dominant supplier of copra to Latin America and the Caribbean in value terms, holding a 2.7% share of total imports.

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