Nigeria - Coconut (Copra) Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingCoconut Oil Price in Nigeria - 2022
Contents:
- Coconut Oil Price in Nigeria (FOB) - 2022
- Coconut Oil Price in Nigeria (CIF) - 2022
- Coconut Oil Exports in Nigeria
- Coconut Oil Imports in Nigeria
Coconut Oil Price in Nigeria (FOB) - 2022
In 2022, the average coconut oil export price amounted to $72 per ton, growing by 24% against the previous year. Overall, the export price, however, showed a dramatic shrinkage. The pace of growth was the most pronounced in 2018 an increase of 332%. Over the period under review, the average export prices reached the maximum at $1,913 per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.
Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($71 per ton), while the average price for exports to Canada ($71 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (-9.5%), while the prices for the other major destinations experienced a decline.
Coconut Oil Price in Nigeria (CIF) - 2022
The average coconut oil import price stood at $2,382 per ton in 2022, which is down by -5.3% against the previous year. In general, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coconut oil import price increased by +30.0% against 2019 indices. The pace of growth was the most pronounced in 2014 when the average import price increased by 37% against the previous year. The import price peaked at $3,711 per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Africa ($48,145 per ton), while the price for Malaysia ($643 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+49.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Coconut Oil Exports in Nigeria
In 2022, after three years of growth, there was significant decline in overseas shipments of coconut (copra) oil, when their volume decreased by -39.3% to 2.7K tons. Over the period under review, exports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 21,198% against the previous year.
In value terms, coconut oil exports declined markedly to $192K in 2022. Overall, exports, however, posted a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 1,282%.
| Export of Coconut Oil in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Africa | N/A | 0.1 | 0.1 | 75.2 | 2642.3% |
| Canada | 0.1 | N/A | 0.1 | 60.8 | 747.2% |
| Russia | N/A | 0.1 | N/A | 53.5 | 2213.0% |
| Vietnam | N/A | 14.8 | 13.3 | N/A | -10.1% |
| Poland | N/A | 58.0 | 17.6 | N/A | -69.7% |
| Portugal | 4.7 | 55.8 | 201 | N/A | 554.0% |
| Others | 4.6 | 0.3 | 22.3 | 2.5 | -18.4% |
| Total | 9.3 | 129 | 255 | 192 | 174.3% |
Top Export Markets for Coconut Oil from Nigeria in 2022:
- South Africa (1054.1 tons)
- Canada (851.7 tons)
- Russia (750.7 tons)
Coconut Oil Imports in Nigeria
In 2022, approx. 32 tons of coconut (copra) oil were imported into Nigeria; growing by 33% against 2021 figures. In general, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 423%. As a result, imports attained the peak of 42 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, coconut oil imports surged to $76K in 2022. Over the period under review, imports continue to indicate significant growth. The growth pace was the most rapid in 2020 with an increase of 520% against the previous year. As a result, imports reached the peak of $92K. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Coconut Oil in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 0.3 | 25.8 | 9.4 | 55.6 | 470.1% |
| India | 0.1 | 7.3 | 4.9 | 8.8 | 344.8% |
| Philippines | N/A | 3.5 | 0.5 | 3.7 | 2.8% |
| United States | 0.1 | 0.6 | 0.6 | 2.0 | 171.4% |
| Malaysia | 0.1 | 49.5 | 17.4 | 0.1 | 0.0% |
| Cote d'Ivoire | 8.3 | N/A | N/A | N/A | 0% |
| Others | 6.0 | 5.3 | 27.3 | 6.0 | 0.0% |
| Total | 14.8 | 92.1 | 60.2 | 76.2 | 72.7% |
Top Suppliers of Coconut Oil to Nigeria in 2022:
- China (28.0 tons)
- India (1.6 tons)
- Philippines (0.9 tons)
- United States (0.5 tons)
- Malaysia (0.2 tons)
This report provides an in-depth analysis of the coconut oil market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 252 - Oil of Coconuts
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
1995
This report provides an in-depth analysis of the coconut oil market in Nigeria.
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Coconut oil prices will grow moderately this year, following the fundamental trend relevant to all vegetable oils. The average annual coconut oil price is set to grow by 2.3% y-o-y to $1,674 per ton in 2022 due to limited supply and rising logistic costs.
892
In 2018, the Philippines (916K tons) was the main exporter of coconut (copra) oil, comprising 49% of the global exports...
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Prices for palm kernel oil spiked by 27% over the month, reaching $1,807 in October 2021. Compared to this year's January figures, the prices soared by +32%. In 2020, palm kernel exports dropped by -3.1% y-o-y in physical terms but grew by +8.9% y-o-y in value terms, reaching $2.5B. Indonesia remains the largest supplier, accounting for 56% of global exports of palm kernel oil. China, the U.S. and Germany constitute the most prominent importers of the product.
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Global palm kernel oil consumption amounted to X thousand tons in 2015, surging by +X% against the previous year level.
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In 2015, the countries with the highest levels of palm kernel and babassu oil production were Indonesia (X thousand tons), Malaysia (X thousand tons), Thailand (X thousand tons), together accounting for X% of total output.
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Indonesia continued its dominance in the global trade of palm kernel and babassu oil. In 2014, Indonesia exported X thousand tons of palm kernel and babassu oil totaling X million USD, X% over the previous year. Its primary trading partner w
2018
From 2007 to 2016, the value of the global coconut oil market showed an unstable dynamic trend. However, in 2016, the value of the global coconut oil market expanded to X billion USD. The main reason for this can be explained by the rise in the price
5731
Global coconut oil consumption amounted to X thousand tons in 2015, approximately equating the previous year level.
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Global coconut oil exports amounted to X thousand tons in 2015, flattening at the previous year level.
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Global coconut oil imports amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
