Import of crude coconut (copra) oil to the US rose significantly between 2013 and 2014 by 64.36%, reaching 367.67 million USD. This sharp increase was followed by a decline in 2015 and 2016, with notable drops of 7.07% and 16.8% respectively. Between 2017 and 2021, import values largely stagnated with minimal year-on-year changes, fluctuating around 290-300 million USD.
From 2022 to 2023, imports began to slightly increase, with a moderate rise of 5.78% in 2022 and 0.48% in 2023. In 2023, import value stood at 304.8 million USD. Forecasts from 2024 to 2028 predict a gradual and steady growth, with a modest 5-year CAGR of 0.36%, indicating relative stability and a slight upward trend.
Future trends to watch for include potential impacts of global supply chain disruptions, shifts in consumer preferences towards healthier cooking oils, and potential policy changes affecting import tariffs and trade agreements. Tracking these factors will be crucial in understanding any significant deviations from the forecasted growth pattern.