Global Coconut Oil Supply by Country

In 2024, the Philippines remains the largest supplier of coconut oil globally, despite a year-on-year decline of 1.46%. Indonesia follows as the second-largest supplier, showing a slight increase of 0.34% over the past year. India, the third-largest supplier, experienced modest growth at 0.7%. The United States saw a significant increase of 3.76%, reflecting robust demand and supply dynamics. Notable growth was observed in Papua New Guinea and Sri Lanka, with year-on-year variations of 9.82% and 7.61%, respectively. Thailand also showed a significant growth rate of 10.68%. In contrast, Bangladesh faced the largest decline at 31.15%. Other notable declines were Russia (-5.83%), Iran (-8.97%), and Norway at -19.73%.

Future trends to watch include the sustained growth in Southeast Asian nations like Vietnam and Thailand, influenced by increasing global demand for coconut oil. Conversely, countries with declining production, such as Bangladesh and Norway, may need to address underlying issues to remain competitive. Additionally, the United States' increasing production could indicate a shifting trend toward domestic sourcing. Emerging markets, particularly in Africa, present potential growth opportunities but currently contribute minimally to global supply.