Western Africa: Refined Cotton-Seed Oil Market 2024

Refined Cotton-Seed Oil Market Size in Western Africa

The West African refined cotton-seed oil market stood at $X in 2022, surging by X% against the previous year. Overall, consumption, however, recorded a pronounced descent. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Refined Cotton-Seed Oil Production in Western Africa

In value terms, refined cotton-seed oil production rose modestly to $X in 2022 estimated in export price. In general, production, however, saw a noticeable reduction. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

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

Refined Cotton-Seed Oil Exports

Exports in Western Africa

In 2022, refined cotton-seed oil exports in Western Africa soared to X tons, picking up by X% against 2021. Overall, exports continue to indicate a pronounced increase. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, refined cotton-seed oil exports surged to $X in 2022. Over the period under review, exports saw a temperate increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Benin (X tons) was the key exporter of refined cotton-seed oil, mixing up X% of total exports. Burkina Faso (X tons) took the second position in the ranking, distantly followed by Cote d'Ivoire (X tons). All these countries together held approx. X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Cote d'Ivoire (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Benin ($X) emerged as the largest refined cotton-seed oil supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Benin was relatively modest. In the other countries, the average annual rates were as follows: Burkina Faso (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices hit record highs in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Benin ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the export price figures.

Refined Cotton-Seed Oil Imports

Imports in Western Africa

In 2022, supplies from abroad of refined cotton-seed oil was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Overall, imports, however, showed a perceptible shrinkage. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, refined cotton-seed oil imports surged to $X in 2022. In general, imports, however, recorded a pronounced shrinkage. The growth pace was the most rapid in 2017 when imports increased by X%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria prevails in imports structure, reaching X tons, which was approx. X% of total imports in 2022. Mali (X tons) and Niger (X tons) took a minor share of total imports.

Nigeria experienced a relatively flat trend pattern with regard to volume of imports of refined cotton-seed oil. At the same time, Niger (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Mali (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mali (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported refined cotton-seed oil in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Mali ($X), with a X% share of total imports.

In Nigeria, refined cotton-seed oil imports decreased by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mali (X% per year) and Niger (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, waning by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.

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 Nigeria ($X per ton), while Niger ($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 a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :