BTAM-About the outlook for global coconut oil consumption

Coconut oil is the only fat composed of medium chain fatty acids in our daily food, which is easily to digested and absorbed for the human body. Consuming coconut oil increases the power of your metabolism. Coconut oil is the main product of coconut processing in the world, and also one of the bulk products in international oil trade. For future development, coconut oil market is very broad. It is widely applicat the food industry, cosmetics and detergent industry.

In recent years, the consumption of coconut oil in European and American countries has been increasing year by year. Countries such as Indonesia and the Philippines has developed into major producers of coconut oil. However, the overall scale of the coconut oil market is small, and people’s attention to coconut oil is still limited. However, with the further improvement of the popularity of healthy oil concept and the development of large-scale and standardized coconut oil industry in the future, the overall market scale will be greatly improved.

We can analyze the global market prospect of coconut oil through the following chart data.

1. Coconut oil market supply situation

According to Chart 1, global coconut production increased between 2016 and 2020, according to the FAO. In 2020, global coconut production decreased to 61,520,400 tons, a 1.03 percent decrease compared to 2019.

2. The oil exports will rise by more than 7%.

Global coconut oil exports fluctuated from 2017/18 to 2020/21. The exports were 1.80 million tonnes in 2020/21, down 3.74% from 2019/20. It will rise to 193m tonnes in 2021/22, according to a December 2021 forecast from the US Department of Agriculture.

3. Global coconut oil imports will increase by more than 2 percent.

Its imports showed an upward trend from 2017/18 to 2020/21. The  imports reached 18.6 million tonnes in 2020/21, an increase of 1.09 percent compared to 2019/20. The oil imports will increase by more than 2% in 2021/22, according to a December 2021 forecast from the US Department of Agriculture.

In recent years, a hundred flowers bloom in the domestic market. In addition to the common cooking oils, new oils are emerging, among which coconut oil is one of the unique representatives.

So far, the international coconut processing industry will enter the opportunity period of high-quality development, and the scale of the coconut oil supply side and the brand of the market side are gradually improving. Coconut oil has the natural properties of international popularity, unique flavor, multiple uses, health functions and so on. It will eventually occupy a solid place in the edible oil market.