The production of coconut oil in India has seen a notable decline from 395.0 thousand metric tons in 2014 to 268.0 thousand metric tons in 2023. The year-on-year trends have shown significant fluctuations, including a steep drop in 2017 and a partial recovery in 2018. In recent years, we observed a consistent decline with minor volatilities, such as a -2.55% decrease in 2023. The compound annual growth rate (CAGR) over the past five years stands at -3.48%, indicating a steady negative trend.
Looking ahead, the forecast from 2024 to 2028 predicts this downward trend will continue, with a forecasted five-year CAGR of -2.23%, leading to an overall decrease in production by -10.68% by 2028 to 232.85 thousand metric tons.
Future trends to watch for in coconut oil production include:
- Climate impact on coconut yields
- Changes in agricultural practices and technology adoption
- Market demand shifts towards alternative oils
- Export and import regulations and their impact on local production
