Crude Coconut Oil Market Overview in Grenada
Market Overview
The Grenadian crude coconut oil market fell remarkably to $
in 2019, waning by -% 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). In general, consumption recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011 when the market value increased by % against the previous year. As a result, consumption reached the peak level of $. From 2012 to 2019, the growth of the market remained at a lower figure.
In value terms, crude coconut oil production shrank rapidly to $ in 2019 estimated in export prices. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 with an increase of % year-to-year. As a result, production attained the peak level of $. From 2012 to 2019, production growth remained at a somewhat lower figure.
in 2019, waning by -% 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). In general, consumption recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011 when the market value increased by % against the previous year. As a result, consumption reached the peak level of $. From 2012 to 2019, the growth of the market remained at a lower figure.In value terms, crude coconut oil production shrank rapidly to $
in 2019 estimated in export prices. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 with an increase of % year-to-year. As a result, production attained the peak level of $. From 2012 to 2019, production growth remained at a somewhat lower figure.Consumption
Crude coconut oil consumption in Grenada contracted to tonnes in 2019, stabilizing at the previous year. In general, consumption recorded a relatively flat trend pattern. The growth pace was the most rapid in 2008 when the consumption volume increased by % year-to-year. Over the period under review, consumption hit record highs at tonnes in 2014; however, from 2015 to 2019, consumption remained at a lower figure.
The value of the crude coconut oil market in Grenada shrank dramatically to $ in 2019, waning by -% 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 showed a relatively flat trend pattern. The growth pace was the most rapid in 2011 with an increase of % y-o-y. As a result, consumption reached the peak level of $. From 2012 to 2019, the growth of the market failed to regain the momentum.
tonnes in 2019, stabilizing at the previous year. In general, consumption recorded a relatively flat trend pattern. The growth pace was the most rapid in 2008 when the consumption volume increased by % year-to-year. Over the period under review, consumption hit record highs at tonnes in 2014; however, from 2015 to 2019, consumption remained at a lower figure.The value of the crude coconut oil market in Grenada shrank dramatically to $
in 2019, waning by -% 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 showed a relatively flat trend pattern. The growth pace was the most rapid in 2011 with an increase of % y-o-y. As a result, consumption reached the peak level of $. From 2012 to 2019, the growth of the market failed to regain the momentum.Market Forecast
Depressed by shrinking demand for crude coconut oil in Grenada, the market is expected to continue its downward consumption trend over the next decade. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from 2019 to , which is projected to depress the market volume to tonnes by the end of .
% for the period from 2019 to , which is projected to depress the market volume to tonnes by the end of .Market Structure
Over the period under review, imports of crude coconut oil in Grenada were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for crude coconut oil.
Trade Balance
Grenada remains a net importer of crude coconut oil; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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