The Top Exporters of Coconut Oil as of 2020

Coconut oil has been gradually but steadily gaining popularity across the globe. Coconut oil is now being considered a “superfood” and ranks among the top vegetable oil by choice. This high interest in coconut oil can be attributed to recent studies that have been able to demonstrate the health benefits of coconut oil and as a healthy cooking oil. Besides, the world is moving towards an organic and natural way of life and healthy living due to the current health issues plaguing our societies today.

Coconut oil is obtained from the white flesh also known as the copra found in the coconut fruit, alongside coconut cream, juice, and milk. The coconut oil is actually obtained by pressing the fresh meat (copra) or dried. As we stand on our mission to take the best healthy foods to the world, we also recommend healthy methods of producing the oil.

We highly recommend exporters who produce their coconut oil through cold extraction processes, chilling, freezing, and thawing methods, cold-pressed methods, and the centrifuge method of extraction. What is embarrassing today about coconut oil in particular and vegetable oil buyers, in general, is the fact that they don’t check on how the oils are produced. This will be another topic to address.

As of 2020, over one million tons of coconut oil (Coconut oil and its fractions, whether or not refined, but not chemically modified excluding crude) was exported around the world for an export value of over $1.215 billion USD at an average price of $1,196 per ton. The annual growth in value was seen at 7% between 2019 and 2020. The annual growth in quantity exported between 2016 and 2020 was at 2% which indicates more coconut oil is being exported every year. However, the annual growth in value between 2016 and 2020 did not reflect a positive value as it indicates a -10%. This can be attributed to a fall in price as supply increases every year.

Which country is the biggest exporter of coconut oil?

Indonesia is the biggest exporter of coconut oil as of 2020 exporting over 311 thousand tons of coconut oil with an export value of over $309 million USD. Indonesia holds 25.5% of world exports of coconut oil an increase of about 3.6% from the previous year of 2019.

In 2019, Indonesia was the second-largest exporter of coconut oil with a share in the world’s export of about 21.9%, exporting over 331 thousand tons with an export market value of over $255 million USD.

Again, these facts are based on the export of coconut oil and its fractions, whether or not refined, but not chemically modified excluding crude coconut oil.

Top 10 Exporters of Coconut Oil in the World as of 2020.

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Indonesia

As indicated above, Indonesia stands out as the biggest exporter of coconut oil in the world after gaining 3.6% share of world export of coconut oil, taking the spot of the Philippines as the world leader in 2019. Indonesia as of 2020, holds an export market share of 25.5%, with an export value of over $309 million USD, and exported over 311 thousand tons of coconut oil worldwide.

Netherlands

The Netherlands is the second biggest exporter of coconut oil in the world. The Netherlands holds a market share of 20.2% with a value exported of over $245 million USD and exported over 203 thousand tons of coconut oil to the rest of the world. This indicates an additional 15,537 tons compared to the year 2019 which was at about 187 thousand tons.

Philippines

The Philippines, which in the previous year (2019) was ranked first is now the third-largest exporter of coconut oil to the world. The Philippines, as of 2020 controls a market share of 20.1% with over $243 million USD in value exported. The Philippines exported over 222 thousand tons of coconut oil which indicates a drop from the previous year (2019) which was at over 332 thousand tons of coconut oil exported.

The annual growth in value for the Philippines between 2019-2020 and the annual growth in quantity between 2016 and 2020 was at a negative of -16% and -2% respectively.

Malaysia

Malaysia maintains its fourth position with a market share of 13.7% an increase from the previous year which was at 10.1%. Malaysia exported over 157 thousand tons of coconut oil with an export market value of over $165 million. Malaysia experienced an annual growth in value of about 41% between 2019 and 2020.

United States

At the fifth spot is the United States with an export market share of 3.3% with an export value of over $40 million USD for exporting over 16 thousand tons of coconut oil. The data indicates a negative trade balance (over -$328 million USD) for the United States indicating the United States imports more coconut oil than it exports.

India

India which was at the 10th spot in 2019 with a market share of 1.7% emerged to the sixth spot with a current market share of 2.4%. As of 2020, India exported over 10 thousand tons of coconut oil with an export market value of over $29 Million USD. India’s annual growth in value indicated a 51% between 2019 and 2020.

Vietnam

Vietnam is at the seventh spot of the top ten biggest exporters of coconut oil with a market share of 2.4% with an export market value of $28 million USD and exported over 15 thousand tons of coconut oil in 2020.  Between 2019 and 2020, Vietnam witnessed an annual export value growth rate of 49% which is a significant growth compared to the other players in the market.

Canada

Canada is at the 8th spot which is a one-spot drop from the previous year of 2019. Canada experienced a -19% in annual growth in value between the period of 2019-2020 leaving Canada with an export market share of 2.1%. As of 2020, Cana exported over 3 thousand tons of coconut oil with an export market value of over $25 million USD.

Germany

Germany is the 9th biggest exporter of coconut oil in the world as of 2020. Germany holds a market share of 1.7%, a significant drop from previous year (2019) which was at 2.2%. Germany exported over 12 thousand tons of coconut oil with an export market value of over $20 million USD. Germany’s export of coconut oil reflected a negative annual export value growth rate of -20% between 2019-2020.

Italy

Italy Comes in at the 10th spot with a positive annual growth in export value of 16% between 2019-2020. Italy currently holds a market share of 1.3 with an export market value of over $15 million USD and exported over 12 thousand tons of coconut oil in 2020.

From the above analysis, Indonesia, Netherlands, Philippines, and Malaysia can be nicknamed the “Big Four” as they all combined control over 79% of the global market share and export over 894 thousand tons of coconut oil to the world. Sri Lanka and Singapore fell off the list of the top 10 exporters of coconut oil to the world. A significant fall in their market share was experienced and indicated as from 3% to 0.9% for Sri Lanka and from 2.2% to 0.3% for Singapore. Sri Lanka and Singapore are now at the 13th and 18th spots respectively as of 2020.

The above analysis is based on the exportation of coconut oil and its fractions, whether or not refined, but not chemically modified and excluding crude.