Desiccated coconuts market in Venezuela

Earlier Report Observations

The desiccated coconut market in Venezuela expanded from 838 t in 2018 to 1,157 t in 2020. This growth was supported by a sharp decline in Venezuela's coconut exports, which fell by 58.78% in value from 2018 to 2019, making more product available for domestic consumption. In 2020, the COVID-19 pandemic caused global supply chain disruptions, but local production increased and imports rose, pushing the market volume higher despite logistical challenges affecting end-user industries like bakeries and dairy.

Market volume contracted to 921 t in 2021 as global coconut production was hit by the El Niño climate pattern and worldwide logistics costs increased, reducing local output. The following year saw a sharp rebound to 1,278 t in 2022, driven largely by a surge in imports to 399 t, which may have been an effort to offset domestic shortfalls even as global shipping costs rose by up to 30% on key routes.

By 2023, the market corrected to 1,112 t as production returned to 2021 levels and imports moderated, indicating a stabilization after the import-driven spike of the previous year.

Production desiccated coconuts in Venezuela

In kind, 2017-2020, t

From 2017 to 2020, Venezuela ranked 15th globally in the production volume of desiccated coconuts.

Top producers of desiccated coconuts, 2017-2020

World map of production of desiccated coconuts, 2017-2020

In 2020, Venezuela produced 1 039 tonnes of desiccated coconuts, marking a 3.9% increase compared to the previous year. Over the period from 2017 to 2020, production grew by 3.9%, which translates to an annualized growth rate of 1.3%. The most significant decline occurred in 2018, with a decrease of 0.0%.

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

Exports desiccated coconuts from Venezuela

Exports in kind, t

The market showed an unstable trend throughout the period. Exports reached their lowest point in 2019 at 9.4 tonnes, representing a sharp contraction of 95.1% from the previous year. In contrast, exports peaked in 2018 at 192.7 tonnes, with the largest increase recorded that year at 96.1%. The difference between the peak in 2018 and the low in 2019 was a factor of 20.

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

Between 2017 and 2020, Curacao and the United States were the dominant buyers of desiccated coconuts from Venezuela, together accounting for 83.3% of total exports in volume. Other partners played a less significant role in the export structure.

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

Noticeable fluctuations characterized the market performance during this period. Exports in value terms bottomed out in 2019 at 6.3 thousand US dollars, a decrease of 95.5% compared to 2018. The peak was recorded in 2018 at 141.4 thousand US dollars, with the largest increase that year at 200.4%. The gap between the high in 2018 and the low in 2019 was 22-fold.

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

From 2017 to 2020, the main markets for Venezuela's desiccated coconut exports in value terms were the United Kingdom (29.5% of exports), the United States (28.3%), and Curacao (26.1%). Together, these three countries formed a dominant cluster, representing 83.9% of total export flows.

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

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

Imports desiccated coconuts to Venezuela

Imports in kind, t

The data reveals irregular changes, indicating a volatile market environment. Imports hit their lowest point in 2018 at 31.0 tonnes, with the largest decline that year at 78.5%. In 2019, imports saw the largest increase at 186.5%. By 2020, foreign supplies of desiccated coconuts to Venezuela reached 117.9 tonnes, a dramatic uptick of 32.6% year-on-year. The variation from the high in 2017 to the low in 2018 was 4.6 times.

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

During 2017–2020, the Philippines and Vietnam were the dominant suppliers of desiccated coconuts to Venezuela in volume, jointly accounting for 94.9% of total imports. Other countries contributed only a residual share.

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

The data shows irregular changes, reflecting a volatile market environment. Imports in value terms were at their minimum in 2018 at 94.9 thousand US dollars, with the largest decline that year at 69.8%. In 2019, the largest increase was recorded at 94.0%. By 2020, imports totaled 233.0 thousand US dollars, a sharp increase of 26.6% compared to 2019. The gap between the peak in 2017 and the low in 2018 was 3.3-fold.

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

Over the period from 2017 to 2020, the Philippines and Vietnam were the dominant suppliers of desiccated coconuts to Venezuela in value terms, together taking 95.4% of total imports. Other destinations each accounted for relatively small shares.

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

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