Western Africa: Oil Crops Market 2024

Oil Crops Market Size in Western Africa

In 2022, the West African oil crops market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Oil Crops Production in Western Africa

In value terms, oil crops production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Nigeria (X tons) remains the largest oil crops producing country in Western Africa, accounting for X% of total volume. Moreover, oil crops production in Nigeria exceeded the figures recorded by the second-largest producer, Ghana (X tons), fivefold. The third position in this ranking was taken by Cote d'Ivoire (X tons), with a X% share.

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

In 2022, the average oil crops yield in Western Africa totaled X tons per ha, approximately equating the previous year's figure. In general, the yield, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the oil crops yield hit record highs at X tons per ha in 2012; however, from 2013 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of oil crops (primary) were harvested in Western Africa; remaining relatively unchanged against the previous year's figure. The harvested area increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of X%. The level of harvested area peaked at X ha in 2021, and then fell slightly in the following year.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Oil Crops Exports

Exports in Western Africa

In 2022, the amount of oil crops (primary) exported in Western Africa surged to X tons, with an increase of X% compared with the previous year. Overall, exports recorded resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, oil crops exports surged to $X in 2022. Over the period under review, exports recorded mild growth. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Togo was the key exporter of oil crops (primary) in Western Africa, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Nigeria (X tons), Benin (X tons), Burkina Faso (X tons) and Ghana (X tons), together achieving a X% share of total exports. The following exporters - Mali (X tons) and Cote d'Ivoire (X tons) - each accounted for a X% share of total exports.

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

In value terms, Nigeria ($X) remains the largest oil crops supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a X% share of total exports. It was followed by Togo, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Burkina Faso (X% per year) and Togo (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price showed a abrupt decline. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 Mali ($X per ton), while Togo ($X per ton) was amongst the lowest.

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

Oil Crops Imports

Imports in Western Africa

In 2022, purchases abroad of oil crops (primary) decreased by X% to X tons, falling for the third consecutive year after three years of growth. In general, imports, however, saw resilient growth. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, oil crops imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate strong growth. The growth pace was the most rapid in 2013 when imports increased by X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The countries with the highest levels of oil crops imports in 2022 were Ghana (X tons), Nigeria (X tons), Burkina Faso (X tons), Togo (X tons) and Mali (X tons), together recording X% of total import. Senegal (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Togo (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Ghana ($X) and Togo ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Among the main importing countries, Togo, with a CAGR of X%, 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

The import price in Western Africa stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price enjoyed mild growth. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

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 Senegal ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :