Between 2014 and 2023, Africa's demand for coconuts and copra, measured in million metric tons, showed varying annual changes. The value in 2023 stood at 1.84 million metric tons. The year-on-year variation in 2023 witnessed a slight decrease of 0.16%, while the 5-year CAGR showed an average annual decrease of 0.033%.
Specifically, significant changes occurred: a rise of 2.55% in 2015, and notable declines of 1.71% in 2018, 1.68% in 2017, and 1.19% in 2016. The years from 2019 to 2023 saw relatively stable demand with small variations of around 0.16% decrease.
Looking forward, the forecasted data from 2024 to 2028 indicate a slight decline trend, with a 5-year CAGR of -0.14% and an overall 5-year growth rate reduction of 0.71%.
Future Trends to Watch:
- Impact of climate change on coconut cultivation.
- Technological advancements in farming and processing.
- Market dynamics, including shifts in consumer preferences and international trade policies.
- Substitutes and innovations within the agricultural sector.
