Africa: Crude Coconut Oil Market 2024

Crude Coconut Oil Market Size in Africa

The African crude coconut oil market contracted to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Crude Coconut Oil Production in Africa

In value terms, crude coconut oil production fell to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

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Crude Coconut Oil Exports

Exports in Africa

In 2022, approx. X tons of crude coconut (copra) oil were exported in Africa; picking up by X% against the previous year's figure. Total exports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, crude coconut oil exports skyrocketed to $X in 2022. Overall, exports saw a prominent expansion. The growth pace was the most rapid in 2016 with an increase of X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Nigeria represented the main exporter of crude coconut (copra) oil in Africa, with the volume of exports accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X tons), Mozambique (X tons) and Ghana (X tons), together mixing up a X% share of total exports.

Nigeria was also the fastest-growing in terms of the crude coconut (copra) oil exports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%) displayed positive paces of growth. By contrast, Mozambique (X%) and Cote d'Ivoire (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Mozambique (X p.p.) and Cote d'Ivoire (X p.p.) displayed negative dynamics.

In value terms, the largest crude coconut oil supplying countries in Africa were Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X), with a combined X% share of total exports.

Nigeria, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, which is down by X% against the previous year. Export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude coconut oil export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2021, and then declined sharply in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.

Crude Coconut Oil Imports

Imports in Africa

In 2022, imports of crude coconut (copra) oil in Africa declined remarkably to X tons, dropping by X% on 2021 figures. Overall, imports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by X%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, crude coconut oil imports declined to $X in 2022. Over the period under review, imports saw a perceptible reduction. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Madagascar (X tons), Mali (X tons) and Somalia (X tons) represented the major importer of crude coconut (copra) oil in Africa, making up X% of total import. Kenya (X tons) ranks next in terms of the total imports with a X% share, followed by South Africa (X%). Morocco (X tons) and Ghana (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest crude coconut oil importing markets in Africa were Madagascar ($X), Somalia ($X) and Mali ($X), together accounting for X% of total imports. South Africa, Kenya, Morocco and Ghana lagged somewhat behind, together comprising a further X%.

Morocco, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Africa amounted to $X per ton, rising by X% against the previous year. Import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude coconut oil import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2014 an increase of X%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Africa ($X per ton), while Ghana ($X 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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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