Desiccated coconuts market in Caribbean

Earlier Report Observations

The Caribbean desiccated coconut market volume showed considerable variability between 2018 and 2023. Starting at 40 752 metric tons in 2018, the market contracted to 35 292 metric tons in 2019 and stabilized around 34 941 metric tons in 2020. A sharp expansion followed in 2021, with the market reaching 52 047 metric tons, marking the highest point in the period.

This peak was sustained into 2022 at 53 482 metric tons, before a significant correction brought the market down to 40 947 metric tons in 2023. Domestic production declined from 38 195 metric tons in 2018 to 28 909 metric tons in 2021, then recovered partially to 32 969 metric tons in 2022 and 32 905 metric tons in 2023. Imports played a substantial role, surging to 31 453 metric tons in 2021, which contributed to the overall market growth that year, while exports gradually decreased over the period.

The net result was a market that grew by nearly 50% from 2020 to 2021, then contracted by over 23% from 2022 to 2023, indicating high sensitivity to trade flows and production levels.

Production desiccated coconuts in Caribbean

In kind, 2017-2020, t

Top producers of desiccated coconuts, 2017-2020

World map of production of desiccated coconuts, 2017-2020

Caribbean's production of desiccated coconuts has declined for the second year in a row. In 2020, the region produced 29 028 tonnes, marking a significant 19.9% drop from the previous year. Looking at the period from 2017 to 2020, overall production fell by 17.3%, which translates to an average annual decrease of 6.1%. The peak was reached in 2018 with 38 195 tonnes, and that year also saw the largest increase at 8.8%.

Annual dynamics of production in Caribbean in kind, 2017-2020, t

In value, 2017-2020, K $ US

Caribbean's desiccated coconut production has decreased for the second consecutive year. In 2020, the output was valued at 21 512 thousand US dollars, representing a solid 16.6% reduction compared to 2019. Over the 2017-2020 period, production value declined by 14.9%, with a compound annual growth rate of -5.2%. The highest value was recorded in 2018 at 33 750 thousand US dollars. The largest decline occurred in 2019 at 23.5%, while the biggest increase was in 2018 at 33.6%.

Annual dynamics of production in Caribbean in value, 2017-2020, K $ US

Exports desiccated coconuts from Caribbean

Exports in kind, t

Following two years of growth, Caribbean's exports of desiccated coconuts declined in 2020. Shipments totaled 10 417 tonnes, a substantial 12.2% decrease from the previous year. Over the 2017-2020 period, exports increased by 7.7%, with an average annual growth rate of 2.5%. The peak was in 2019 at 11 861 tonnes, and the largest increase was recorded in 2018 at 19.3%.

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

From 2017 to 2020, the United States, Canada, and Italy were the top three markets for Caribbean's desiccated coconut exports, together accounting for 74.3% of total shipments in volume.

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

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

Exports in value, K $ US

Caribbean's desiccated coconut exports have fallen for the second year in a row. In 2020, exports were valued at 7 720 thousand US dollars, an 8.6% contraction year-over-year. Between 2017 and 2020, export value increased by 10.9%, equating to an annualized rate of 3.5%. The highest value was in 2018 at 10 196 thousand US dollars. The largest decline occurred in 2019 at 17.1%, while the biggest increase was in 2018 at 46.4%.

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

During 2017-2020, the United States, Canada, and Italy remained the leading destinations for Caribbean's desiccated coconut exports in value terms. The United States accounted for 64.2% of exports, Canada for 11.7%, and Italy for 0.9%, together making up 76.7% of total export value.

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

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

Imports desiccated coconuts to Caribbean

Imports in kind, t

In 2020, Caribbean's imports of desiccated coconuts reached 16 329 tonnes, a sharp 49.5% increase from the previous year. Over the 2017-2020 period, imports grew by 16.5%, with an average annual rate of 5.2%. The lowest volume was in 2019 at 10 925 tonnes, which also saw the largest decline at 22.5%.

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

From 2017 to 2020, Guyana, the United States, and Ghana were the main suppliers of desiccated coconuts to the Caribbean. Guyana accounted for 40.3% of imports in volume, the United States for 27.1%, and Ghana for 4.9%, together representing 72.3% of total imports.

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

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

Imports in value, K $ US

In 2020, Caribbean's imports of desiccated coconuts were valued at 13 162 thousand US dollars, a strong 47.7% rise compared to the previous year. Over the 2017-2020 period, import value increased by 13.3%, with a compound annual growth rate of 4.2%. The lowest value was in 2019 at 8 910 thousand US dollars, which also experienced the largest decline at 30.8%.

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

During 2017-2020, Guyana, the United States, and Ghana remained the principal suppliers of desiccated coconuts to the Caribbean in value terms. Guyana accounted for 39.3% of imports, the United States for 29.6%, and Ghana for 6.0%, together making up 75.0% of total import value.

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

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