Africa: Palm Kernel Oil Market 2024

Palm Kernel Oil Market Size in Africa

In 2022, after two years of growth, there was significant decline in the African palm kernel oil market, when its value decreased by X% to $X. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Palm Kernel Oil Production in Africa

In value terms, palm kernel oil production reached $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Palm Kernel Oil Exports

Exports in Africa

Palm kernel oil exports fell slightly to X tons in 2022, which is down by X% against the previous year's figure. In general, exports, however, continue to indicate a measured increase. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then shrank slightly in the following year.

In value terms, palm kernel oil exports reached $X in 2022. Over the period under review, exports, however, saw a strong expansion. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Cote d'Ivoire represented the largest exporter of palm kernel and babassu oil in Africa, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by Nigeria (X tons), Gabon (X tons) and Ghana (X tons), together creating a X% share of total exports. Liberia (X tons) followed a long way behind the leaders.

Exports from Cote d'Ivoire increased at an average annual rate of X% from 2012 to 2022. At the same time, Liberia (X%), Nigeria (X%) and Gabon (X%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.), Gabon (X p.p.), Cote d'Ivoire (X p.p.) and Liberia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (X p.p.) displayed negative dynamics.

In value terms, Cote d'Ivoire ($X) remains the largest palm kernel oil supplier in Africa, comprising X% of total exports. The second position in the ranking was held by Nigeria ($X), with a X% share of total exports. It was followed by Ghana, with a X% share.

In Cote d'Ivoire, palm kernel oil exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (X% per year) and Ghana (X% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, jumping by X% against the previous year. Export price indicated a perceptible expansion 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, palm kernel oil export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Cote d'Ivoire ($X per ton) and Nigeria ($X per ton), while Gabon ($X per ton) and Liberia ($X per ton) were amongst the lowest.

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

Palm Kernel Oil Imports

Imports in Africa

Palm kernel oil imports contracted sharply to X tons in 2022, reducing by X% on 2021 figures. Over the period under review, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, palm kernel oil imports contracted to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

South Africa represented the major importer of palm kernel and babassu oil in Africa, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2022. Kenya (X tons) ranks second in terms of the total imports with a X% share, followed by Egypt (X%), Morocco (X%) and Tunisia (X%). The following importers - Uganda (X tons) and Ghana (X tons) - each recorded a X% share of total imports.

Imports into South Africa decreased at an average annual rate of X% from 2012 to 2022. At the same time, Kenya (X%), Uganda (X%), Ghana (X%), Morocco (X%) and Tunisia (X%) displayed positive paces of growth. Moreover, Kenya emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2022. By contrast, Egypt (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Africa, Kenya, Morocco, Tunisia, Egypt, Uganda and Ghana increased by X, X, X, X, X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported palm kernel and babassu oil in Africa, comprising X% of total imports. The second position in the ranking was taken by Egypt ($X), with a X% share of total imports. It was followed by Kenya, with a X% share.

In South Africa, palm kernel oil imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Egypt (X% per year) and Kenya (X% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, jumping by X% against the previous year. Import price indicated strong 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, palm kernel oil import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Egypt ($X per ton), while Uganda ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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