Latest Report Update: Apr 13, 2021

Nigeria - Refined Coconut (Copra) Oil - Market Analysis, Forecast, Size, Trends And Insights
Update: COVID-19 Impact

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Nigeria: Refined Coconut Oil Market Overview 2021

Refined Coconut Oil Market Size in Nigeria

In 2019, the Nigerien refined coconut oil market increased by X% to $X, rising for the fourth consecutive year after eight years of decline. Over the period under review, consumption enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2018 when the market value increased by X% against the previous year. Over the period under review, the market attained the peak level in 2019 and is expected to retain growth in years to come.

Refined Coconut Oil Production in Nigeria

In value terms, refined coconut oil production reached $X in 2019 estimated in export prices. In general, production showed a tangible increase. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% year-to-year. Refined coconut oil production peaked in 2019 and is expected to retain growth in the near future.

Refined Coconut Oil Exports

Exports from Nigeria

In 2019, after two years of growth, there was significant decline in overseas shipments of refined coconut (copra) oil, when their volume decreased by -X% to X tonnes. In general, exports faced a dramatic contraction. The most prominent rate of growth was recorded in 2018 when exports increased by X% year-to-year. Exports peaked at X tonnes in 2007; however, from 2008 to 2019, exports stood at a somewhat lower figure.

In value terms, refined coconut oil exports declined sharply to $X in 2019. Over the period under review, exports faced a deep setback. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. Exports peaked at $X in 2007; however, from 2008 to 2019, exports stood at a somewhat lower figure.

Exports by Country

Japan (X tonnes) was the main destination for refined coconut oil exports from Nigeria, accounting for a X% share of total exports. Moreover, refined coconut oil exports to Japan exceeded the volume sent to the second major destination, South Africa (X kg), sixfold.

From 2007 to 2019, the average annual rate of growth in terms of volume to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+X% per year) and Niger (-X% per year).

In value terms, Japan ($X) emerged as the key foreign market for refined coconut oil exports from Nigeria, comprising X% of total exports. The second position in the ranking was occupied by South Africa ($X), with a X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of value to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (-X% per year) and Niger (-X% per year).

Export Prices by Country

In 2019, the average refined coconut oil export price amounted to $X per tonne, increasing by X% against the previous year. Overall, the export price recorded a resilient increase. The most prominent rate of growth was recorded in 2008 when the average export price increased by X% year-to-year. The export price peaked in 2019 and is expected to retain growth in the near future.

Prices varied noticeably by the country of destination; the country with the highest price was Japan ($X per tonne), while the average price for exports to South Africa ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Japan, while the prices for the other major destinations experienced a decline.

Refined Coconut Oil Imports

Imports into Nigeria

After two years of growth, purchases abroad of refined coconut (copra) oil decreased by -X% to X tonnes in 2019. Over the period under review, imports, however, posted significant growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Imports peaked at X tonnes in 2018, and then fell dramatically in the following year.

In value terms, refined coconut oil imports totaled $X in 2019. Overall, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2019 and are likely to see gradual growth in the near future.

Imports by Country

Malaysia (X tonnes), the United Arab Emirates (X tonnes) and France (X tonnes) were the main suppliers of refined coconut oil imports to Nigeria, together accounting for X% of total imports.

From 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (+X% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest refined coconut oil suppliers to Nigeria were the United Arab Emirates ($X), France ($X) and Malaysia ($X), together comprising X% of total imports.

In terms of the main suppliers, the United Arab Emirates (+X% per year) recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2019, the average refined coconut oil import price amounted to $X per tonne, jumping by X% against the previous year. Over the period under review, the import price recorded strong growth. The pace of growth appeared the most rapid in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per tonne in 2014; however, from 2015 to 2019, import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was France ($X per tonne), while the price for Malaysia ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by the U.S., while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined coconut (copra) oil in the world?
+
The country with the largest volume of refined coconut oil consumption was the U.S. (24M tonnes), comprising approx. 56% of total volume. Moreover, refined coconut oil consumption in the U.S. exceeded the figures recorded by the second-largest consumer, China (3.1M tonnes), eightfold. India (1.3M tonnes) ranked third in terms of total consumption with a 3% share.
What are the largest producers of refined coconut (copra) oil in the world?
+
The U.S. (23M tonnes) constituted the country with the largest volume of refined coconut oil production, comprising approx. 55% of total volume. Moreover, refined coconut oil production in the U.S. exceeded the figures recorded by the second-largest producer, China (3M tonnes), eightfold. The third position in this ranking was occupied by India (1.3M tonnes), with a 3.1% share.
What are the leading suppliers of refined coconut (copra) oil to Nigeria?
+
In value terms, the largest refined coconut oil suppliers to Nigeria were the United Arab Emirates ($41K), France ($26K) and Malaysia ($16K), with a combined 83% share of total imports.
What are the leading importers of refined coconut (copra) oil from Nigeria?
+
In value terms, Japan ($9.3K) emerged as the key foreign market for refined coconut oil exports from Nigeria, comprising 99% of total exports. The second position in the ranking was occupied by South Africa ($47), with a 0.5% share of total exports.
What is the average export price for refined coconut (copra) oil in Nigeria?
+
The average refined coconut oil export price stood at $2,157 per tonne in 2019, increasing by 48% against the previous year.
What is the average import price for refined coconut (copra) oil in Nigeria?
+
In 2019, the average refined coconut oil import price amounted to $2,054 per tonne, jumping by 56% against the previous year.

Product coverage:
• Prodcom 10415800 - Refined coconut (copra) oil and its fractions (excluding chemically modified)

This report provides an in-depth analysis of the refined 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 2025.


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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

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