Copra market in South-eastern Asia

Earlier Report Observations

The copra market in South-eastern Asia contracted from 4 154 thousand tons in 2018 to 3 536 thousand tons in 2020. This decline coincided with the global COVID-19 pandemic, which disrupted supply chains and lowered prices, reducing trade and consumption volumes. Additionally, earlier export declines from major producers and market access challenges introduced volatility.

A strong recovery followed, with the market volume rising to 4 271 thousand tons in 2022. This growth was primarily driven by increasing demand for copra meal in animal feed, linked to expanding meat production in the region. Supportive government agricultural initiatives and stricter quality controls for feed safety further stimulated the market. By 2023, the volume moderated to 4 068 thousand tons.

Throughout the period, the market was influenced by factors such as extreme weather events like typhoons and droughts, which affected coconut yields and copra supply. Simultaneously, rising consumer preference for coconut oil in health and cosmetic products supported underlying demand, contributing to overall market dynamics.

Production copra in South-eastern Asia

In kind, 2017-2020, K t

Top producers of copra, 2017-2020

World map of production of copra, 2017-2020

Copra production in South-eastern Asia has declined for the second year in a row. In 2020, the region produced 3 575 K t of copra, marking a significant decrease of 10.9% compared to 2019. Over the period from 2017 to 2020, production fell by 12%, with a compound annual growth rate (CAGR) of 4.2%. The highest production level was recorded in 2018 at 4 165 K t, which also saw the largest increase of 2.5%.

Annual dynamics of production in South-eastern Asia in kind, 2017-2020, K t

In value, 2017-2020, M $ US

South-eastern Asia's copra production value has dropped for the third consecutive year. In 2020, the output was valued at 2 357 M $ US, down by 13.9% from 2019. From 2017 to 2020, production value decreased by 42%, with a compound annual growth rate (CAGR) of 16.6%.

Annual dynamics of production in South-eastern Asia in value, 2017-2020, M $ US

Exports copra from South-eastern Asia

Exports in kind, K t

Market performance showed notable fluctuations during this period. The minimum export volume was recorded in 2017, while the maximum was in 2019, with a 2.4-fold difference between these years. In 2020, South-eastern Asia's copra export volume totaled 89.7 K t, representing a sharp decrease of 34.2% compared to the previous year. The highest export volume was in 2019 at 136.4 K t, and the largest increase occurred in 2018 with a growth of 89.0%.

Annual dynamics of product's exports from South-eastern Asia in kind, 2017-2020, K t

From 2017 to 2020, China and Bangladesh were the primary buyers of copra from South-eastern Asia, together accounting for 80.1% of total exports in kind. The remaining exports were distributed among various other countries.

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

World map of product's exports from South-eastern Asia in kind, 2017-2020

Exports in value, M $ US

After two years of growth, exported copra volumes from South-eastern Asia declined. In 2020, the region exported 59.2 M $ US of copra, which is 36.5% less than the previous year. The highest value was recorded in 2019 at 93.1 M $ US, and the largest increase was in 2018 with a rise of 57.0%.

Annual dynamics of product's exports from South-eastern Asia in value, 2017-2020, M $ US

Between 2017 and 2020, China, Bangladesh, and India were the top destinations for copra exports in value terms. China accounted for 51.1% of exports, Bangladesh for 24.6%, and India for 12.5%, together making up 88.2% of total export flows.

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

World map of product's exports from South-eastern Asia in value, 2017-2020

Imports copra to South-eastern Asia

Imports in kind, K t

Following a two-year decline, copra deliveries to South-eastern Asia increased. In 2020, imports reached 51.1 K t, up by 12.1% compared to 2019. Over the period from 2017 to 2020, imports decreased by 53.9%, equating to an annualized rate of 22.8%. The lowest import volume was in 2019 at 45.6 K t, which also saw the largest decline of 53.9%.

Annual dynamics of product's imports to South-eastern Asia in kind, 2017-2020, K t

From 2017 to 2020, imports in kind were heavily concentrated on Papua New Guinea and Vanuatu, which together accounted for 81.1% of total flows. Other partners made up the remainder.

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

World map of product's imports to South-eastern Asia in kind, 2017-2020

Imports in value, M $ US

After a two-year drop, copra imports into South-eastern Asia rose. In 2020, imports amounted to 30.9 M $ US, marking an increase of 53.8% compared to the previous year. Over the period from 2017 to 2020, imports decreased by 70.7%, with a compound annual growth rate (CAGR) of 33.6%. The minimum value was recorded in 2019 at 20.1 M $ US, which also experienced the largest decline of 68.9%.

Annual dynamics of product's imports to South-eastern Asia in value, 2017-2020, M $ US

Between 2017 and 2020, Papua New Guinea, Vanuatu, and Solomon Islands remained the leading sources for copra imports in value terms. Papua New Guinea accounted for 63.4% of imports, Vanuatu for 15.8%, and Solomon Islands for 14.3%, together comprising 93.5% of total import flows.

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

World map of product's imports to South-eastern Asia in value, 2017-2020