Africa: Crude Groundnut Oil Market 2025

Crude Groundnut Oil Market Size in Africa

The African crude groundnut oil market stood at $X in 2022, with an increase of 4.1% against the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Crude Groundnut Oil Production in Africa

In value terms, crude groundnut oil production amounted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 25% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Crude Groundnut Oil Exports

Exports in Africa

Crude groundnut oil exports contracted significantly to X tons in 2022, reducing by -96% compared with 2021 figures. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 2,744%. As a result, the exports attained the peak of X tons, and then declined markedly in the following year.

In value terms, crude groundnut oil exports fell remarkably to $X in 2022. In general, exports continue to indicate a mild contraction. The pace of growth was the most pronounced in 2021 when exports increased by 1,720% against the previous year. As a result, the exports reached the peak of $X, and then shrank significantly in the following year.

Exports by Country

Senegal was the major exporter of crude groundnut oil in Africa, with the volume of exports amounting to X tons, which was approx. 66% of total exports in 2022. Nigeria (X tons) held a 15% share (based on physical terms) of total exports, which put it in second place, followed by Gambia (14%). Guinea (X tons) took a minor share of total exports.

Exports from Senegal decreased at an average annual rate of -2.5% from 2012 to 2022. At the same time, Nigeria (+89.1%) and Guinea (+3.4%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Africa, with a CAGR of +89.1% from 2012-2022. By contrast, Gambia (-1.3%) illustrated a downward trend over the same period. While the share of Nigeria (+15 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Senegal (-14.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest crude groundnut oil supplier in Africa, comprising 66% of total exports. The second position in the ranking was held by Nigeria ($X), with a 15% share of total exports. It was followed by Gambia, with a 14% share.

From 2012 to 2022, the average annual growth rate of value in Senegal stood at -3.8%. In the other countries, the average annual rates were as follows: Nigeria (+140.7% per year) and Gambia (+2.2% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, picking up by 83% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Gambia ($X per ton) and Nigeria ($X per ton), while Guinea ($X per ton) and Senegal ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+27.3%), while the other leaders experienced more modest paces of growth.

Crude Groundnut Oil Imports

Imports in Africa

In 2022, imports of crude groundnut oil in Africa reduced markedly to X tons, waning by -15.3% against 2021 figures. In general, imports recorded a abrupt slump. The pace of growth appeared the most rapid in 2014 with an increase of 88%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, crude groundnut oil imports reduced to $X in 2022. Overall, imports saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 52% against the previous year. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

Swaziland represented the largest importer of crude groundnut oil in Africa, with the volume of imports accounting for X tons, which was near 66% of total imports in 2022. It was distantly followed by Comoros (X tons), generating a 21% share of total imports. The following importers - Benin (X tons), Ghana (X tons) and Cameroon (X tons) - each finished at a 5.7% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to crude groundnut oil imports into Swaziland stood at +19.0%. At the same time, Comoros (+49.6%) and Ghana (+22.5%) displayed positive paces of growth. Moreover, Comoros emerged as the fastest-growing importer imported in Africa, with a CAGR of +49.6% from 2012-2022. By contrast, Cameroon (-5.1%) and Benin (-38.7%) illustrated a downward trend over the same period. While the share of Swaziland (+63 p.p.), Comoros (+21 p.p.) and Ghana (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Benin (-84.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Swaziland ($X) constitutes the largest market for imported crude groundnut oil in Africa, comprising 60% of total imports. The second position in the ranking was taken by Comoros ($X), with a 20% share of total imports. It was followed by Cameroon, with a 3.7% share.

In Swaziland, crude groundnut oil imports expanded at an average annual rate of +20.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Comoros (+52.3% per year) and Cameroon (-1.3% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, surging by 2.5% against the previous year. Import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude groundnut oil import price increased by +48.2% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of 75% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cameroon ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cameroon (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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