Africa: Coconut Market 2024

Coconut Market Size in Africa

The African coconut market shrank modestly to $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Coconut Production in Africa

In value terms, coconut production reduced to $X in 2022 estimated in export price. The total production indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 50%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Ghana (X tons), Tanzania (X tons) and Mozambique (X tons), with a combined 59% share of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Ghana (with a CAGR of +3.8%), while production for the other leaders experienced mixed trends in the production figures.

In 2022, the average coconut yield in Africa declined slightly to X tons per ha, flattening at the previous year. Over the period under review, the yield saw a perceptible downturn. The growth pace was the most rapid in 2016 when the yield increased by 12% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2017 to 2022, the growth of the coconut yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of coconuts in Africa amounted to X ha, with an increase of 2.8% against the previous year's figure. The harvested area increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the harvested area increased by 10% against the previous year. The level of harvested area peaked at X ha in 2019; however, from 2020 to 2022, the harvested area failed to regain momentum.

Coconut Exports

Exports in Africa

In 2022, the amount of coconuts exported in Africa declined slightly to X tons, which is down by -4.9% compared with the previous year. Over the period under review, exports, however, posted strong growth. The pace of growth appeared the most rapid in 2015 when exports increased by 139%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, coconut exports shrank to $X in 2022. In general, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2014 when exports increased by 61%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire dominates exports structure, resulting at X tons, which was approx. 94% of total exports in 2022. The following exporters - Ghana (X tons) and Burkina Faso (X tons) - each resulted at a 3.2% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to coconut exports from Cote d'Ivoire stood at +24.0%. At the same time, Burkina Faso (+30.0%) and Ghana (+21.0%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in Africa, with a CAGR of +30.0% from 2012-2022. Cote d'Ivoire (+51 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest coconut supplier in Africa, comprising 89% of total exports. The second position in the ranking was taken by Ghana ($X), with a 9.6% share of total exports.

In Cote d'Ivoire, coconut exports increased at an average annual rate of +25.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (+40.5% per year) and Burkina Faso (-16.4% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, reducing by -9.2% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 54% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+16.1%), while the other leaders experienced mixed trends in the export price figures.

Coconut Imports

Imports in Africa

In 2022, supplies from abroad of coconuts increased by 10% to X tons for the first time since 2018, thus ending a three-year declining trend. Total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 76%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, coconut imports reduced modestly to $X in 2022. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 44% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Burkina Faso (X tons) and Senegal (X tons) represented roughly 50% of total imports in 2022. It was distantly followed by Mauritius (X tons), South Africa (X tons), Angola (X tons) and Niger (X tons), together constituting a 31% share of total imports. Mali (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Mali (with a CAGR of +60.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest coconut importing markets in Africa were Mauritius ($X), Senegal ($X) and Niger ($X), with a combined 46% share of total imports. South Africa, Angola, Mali and Burkina Faso lagged somewhat behind, together comprising a further 16%.

Mali, with a CAGR of +57.0%, 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, falling by -13.7% against the previous year. In general, the import price saw a perceptible curtailment. The growth pace was the most rapid in 2013 an increase of 32% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a 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 Mauritius ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritius (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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