Sep 2, 2025
IndexBox has just published a new report: U.S. – Crude Coconut (Copra) Oil – Market Analysis, Forecast, Size, Trends And Insights.
The market for crude coconut oil in the United States is set to experience a steady increase in consumption, with a forecasted CAGR of +0.9% in volume and +1.0% in value from 2024 to 2035. This growth trend is expected to result in a market volume of 182K tons and a market value of $240M by the end of 2035.
Market Forecast
Driven by rising demand for crude coconut oil in the United States, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.9% for the period from 2024 to 2035, which is projected to bring the market volume to 182K tons by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +1.0% for the period from 2024 to 2035, which is projected to bring the market value to $240M (in nominal wholesale prices) by the end of 2035.
ConsumptionUnited States’s Consumption of Crude Coconut (Copra) Oil
In 2024, the amount of crude coconut (copra) oil consumed in the United States shrank to 165K tons, waning by -2.2% compared with the previous year’s figure. In general, consumption recorded a perceptible slump. Over the period under review, consumption reached the peak volume at 254K tons in 2014; however, from 2015 to 2024, consumption stood at a somewhat lower figure.
The revenue of the crude coconut oil market in the United States expanded notably to $215M in 2024, increasing by 5.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Overall, consumption continues to indicate a slight decline. As a result, consumption reached the peak level of $343M. From 2015 to 2024, the growth of the market remained at a lower figure.
ImportsUnited States’s Imports of Crude Coconut (Copra) Oil
In 2024, the amount of crude coconut (copra) oil imported into the United States dropped to 169K tons, remaining constant against the year before. In general, imports saw a perceptible decline. The pace of growth was the most pronounced in 2018 when imports increased by 29%. Imports peaked at 263K tons in 2014; however, from 2015 to 2024, imports remained at a lower figure.
In value terms, crude coconut oil imports stood at $222M in 2024. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 64% against the previous year. As a result, imports attained the peak of $368M. From 2015 to 2024, the growth of imports remained at a lower figure.
Imports By Country
In 2024, the Philippines (160K tons) was the main supplier of crude coconut oil to the United States, with a 95% share of total imports. Moreover, crude coconut oil imports from the Philippines exceeded the figures recorded by the second-largest supplier, Indonesia (5.5K tons), more than tenfold.
From 2013 to 2024, the average annual growth rate of volume from the Philippines was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-20.7% per year) and Malaysia (-32.8% per year).
In value terms, the Philippines ($203M) constituted the largest supplier of crude coconut (copra) oil to the United States, comprising 91% of total imports. The second position in the ranking was taken by Indonesia ($6.8M), with a 3.1% share of total imports.
From 2013 to 2024, the average annual growth rate of value from the Philippines totaled +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-17.7% per year) and Malaysia (-30.6% per year).
Import Prices By Country
In 2024, the average crude coconut oil import price amounted to $1,315 per ton, increasing by 16% against the previous year. Over the period under review, import price indicated a noticeable increase from 2013 to 2024: its price increased at an average annual rate of +3.4% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, crude coconut oil import price decreased by -27.6% against 2022 indices. The pace of growth was the most pronounced in 2021 an increase of 63% against the previous year. The import price peaked at $1,816 per ton in 2022; however, from 2023 to 2024, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2024, amid the top importers, the country with the highest price was the Philippines ($1,268 per ton), while the price for Malaysia ($1,229 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Indonesia (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.
ExportsUnited States’s Exports of Crude Coconut (Copra) Oil
In 2024, shipments abroad of crude coconut (copra) oil was finally on the rise to reach 3.9K tons after two years of decline. Overall, exports, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2015 with an increase of 212% against the previous year. Over the period under review, the exports attained the peak figure at 32K tons in 2016; however, from 2017 to 2024, the exports failed to regain momentum.
In value terms, crude coconut oil exports surged to $13M in 2024. In general, exports recorded a resilient expansion. The pace of growth was the most pronounced in 2015 when exports increased by 227% against the previous year. Over the period under review, the exports hit record highs at $26M in 2016; however, from 2017 to 2024, the exports remained at a lower figure.
Exports By Country
Mexico (3K tons) was the main destination for crude coconut oil exports from the United States, accounting for a 76% share of total exports. Moreover, crude coconut oil exports to Mexico exceeded the volume sent to the second major destination, Canada (705 tons), fourfold. The third position in this ranking was held by China (26 tons), with a 0.7% share.
From 2013 to 2024, the average annual growth rate of volume to Mexico amounted to +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-10.4% per year) and China (-31.3% per year).
In value terms, Mexico ($9.1M) emerged as the key foreign market for crude coconut (copra) oil exports from the United States, comprising 73% of total exports. The second position in the ranking was held by Canada ($2.4M), with a 19% share of total exports. It was followed by China, with a 1% share.
From 2013 to 2024, the average annual rate of growth in terms of value to Mexico stood at +14.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+1.9% per year) and China (-19.4% per year).
Export Prices By Country
In 2024, the average crude coconut oil export price amounted to $3,218 per ton, dropping by -6% against the previous year. In general, the export price, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 110% against the previous year. Over the period under review, the average export prices reached the maximum at $4,042 per ton in 2019; however, from 2020 to 2024, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In 2024, amid the top suppliers, the country with the highest price was South Korea ($6,984 per ton), while the average price for exports to Mexico ($3,077 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+21.3%), while the prices for the other major destinations experienced more modest paces of growth.