Crude Coconut Oil Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Crude Coconut Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Crude Coconut Oil Price Trend for the Second Half of 2023

Asia

The crude coconut oil market initiated the third quarter with an optimistic approach as the consumption rates from the downstream industries showed a consistent incline. As a result, the Indonesian crude coconut oil prices were able to incline from an average of 925 USD/MT (EXW) in July’23 to around 983 USD/MT in December’23. However, a sudden fall in the trend was observed in the consecutive months as the active purchases from the consumer sector declined at a slow pace.

Crude Coconut Oil Price Chart

Crude Coconut Oil Price Trends


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sts and the availability of cheaper alternatives, further caused ripples in the crude coconut oil market. But still, based on the cost of production, the crude coconut oil market closed the year at a positive note of about 980 USD/MT. The Malaysian region was, however, resilient in its approach as the market only faced limited movement, with a slight decline in averages from 1075 USD/MT (CIF) to 1024 USD/MT.

Europe

During the third quarter of 2023, the European crude coconut oil traders registered a significant uptick in the crude coconut oil price trend. The sentiments of crude coconut oil prices escalated due to the sustained approach from domestic consumers.

However, the producers incurred challenges from the raw materials sector as adverse weather conditions, sudden floods, and abrupt rainfall patterns reduced the agricultural output and limited the availability of the material in the market. However, the market winds changed in the fourth quarter due to the frail condition of the global economy along with the excessive number of overseas imports.

North America

A complex interplay of trading sector, demand and production rates of crude coconut oil dictated the crude coconut oil price trend during the third and fourth quarter of 2023.

The heightened demand from the consumer sector during the third quarter and the availability of export margins helped in the rise in crude coconut oil prices. The incline in advents of bulk ordering and the limited influx of raw materials also widened the supply-demand gap, favoring the rise in crude coconut oil price trend. However, the inventories lined up in the fourth quarter, which somehow destabilized the crude coconut oil market fundamentals.

Analyst Insight

According to Procurement Resource, the price trend of Crude Coconut Oil is expected to drive upwards as the positive consumer demand and scarcity of raw material produce will support the crude coconut oil pricing pattern.

Crude Coconut Oil Price Trend for the First Half of 2023

Asia

Crude Coconut Oil is extracted from coconuts that mainly grow in the coastal regions. In the Asian continent, countries like the Philippines, Malaysia, and Indonesia are major producers. During H1’23, the prices exhibited rising trend for the majority of the time as the demands from the consumption sector consistently rose.

In Indonesia, the prices rose by about 4% by May’23 and then declined marginally to close the second quarter at about 935 USD/MT(EXW) in June’23. Similarly, in Malaysia, the prices rose by about 7% in the first quarter and subsided by around 6% in the second quarter. Fluctuating within a narrow range, Crude Coconut Oil prices declined by about 6% in the Philippines over the six months, with some upward fluctuations in the middle of the second quarter.

Europe

The European Crude Coconut Oil market saw a consistent incline in prices due to heavy import dependence. In the Netherlands, the prices rose by about 3% by the middle of the second quarter after starting the year at an average monthly spot price of about 2047 USD/MT In January’23.

Analyst Insight

According to Procurement Resource, with the current market behavior of Crude Coconut Oil, further fluctuations in the upcoming months are expected.

Procurement Resource provides latest prices of Crude Coconut Oil. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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About

Crude Coconut Oil or CNO is one of the basic industrial grade oils, which is derived by squeezing out the oil from copra or dried coconut meat using expeller press. Virgin coconut oil, based on its extraction method, can be exposed to heat whereas raw coconut oil is never exposed to heat. Thus, not all virgin coconut oil is raw, but all raw coconut oil is virgin. Raw coconut oil is the purest form of coconut oil. Coconut oil is a rich source of medium chain triglyceride (MCTs), that are quickly absorbed by the body to generate energy.

Product Details

Report Features Details
Product Name Crude Coconut Oil
Industrial Uses Cooking oil, Food ingredient, Spread (virgin coconut oil), Snacks, Hair oil, Engine lubricant and as a transformer oil, Soaps and surfactants, Herbicides
Supplier Database Greenville Agro Corporation, P.T. Harvard Cocopro, Naturoca, Sun Bionaturals (India) Private Ltd, Celebes Coconut Corporation
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery


Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Processes

  • Production of Crude Coconut Oil or CNO via Dry Process; and via Wet Process.

In the dry processing method, coconut meat is extracted from the shell and dried using fire, sunlight, or kilns to produce copra, which is further pressed or dissolved with solvents, thus, resulting in the formation of Coconut Oil along with a high-protein, high-fibre mash.

Methodology

The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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