Cote d'Ivoire: Coconut Oil Market 2024

Coconut Oil Market Size in Cote d'Ivoire

The Cote d'Ivoire's coconut oil market reduced to $X in 2022, which is down by -11.8% against the previous year. Overall, consumption, however, saw measured growth. Coconut oil consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Coconut Oil Production in Cote d'Ivoire

In value terms, coconut oil production declined to $X in 2022 estimated in export price. In general, production continues to indicate buoyant growth. The pace of growth appeared the most rapid in 2017 when the production volume increased by 59%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Coconut Oil Exports

Exports from Cote d'Ivoire

In 2022, approx. X tons of coconut (copra) oil were exported from Cote d'Ivoire; rising by 16% compared with the year before. Over the period under review, exports, however, recorded a slight curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 112% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, coconut oil exports soared to $X in 2022. In general, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2016 with an increase of 175% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Mali (X tons), Switzerland (X tons) and Spain (X tons) were the main destinations of coconut oil exports from Cote d'Ivoire, together accounting for 85% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mali (with a CAGR of +87.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for coconut oil exported from Cote d'Ivoire were Switzerland ($X), Mali ($X) and Spain ($X), together comprising 92% of total exports.

Among the main countries of destination, Mali, with a CAGR of +101.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average coconut oil export price stood at $X per ton in 2022, with an increase of 13% against the previous year. Overall, the export price enjoyed strong growth. The pace of growth was the most pronounced in 2017 an increase of 49% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Coconut Oil Imports

Imports into Cote d'Ivoire

In 2022, approx. X tons of coconut (copra) oil were imported into Cote d'Ivoire; shrinking by -50.8% against the previous year's figure. In general, imports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 340% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, coconut oil imports dropped notably to $X in 2022. Over the period under review, imports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2014 when imports increased by 439% against the previous year. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Thailand (X tons) constituted the largest coconut oil supplier to Cote d'Ivoire, accounting for a 77% share of total imports. Moreover, coconut oil imports from Thailand exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X kg), sevenfold. Lebanon (X kg) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand totaled +48.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+37.2% per year) and Lebanon (+71.4% per year).

In value terms, Thailand ($X) constituted the largest supplier of coconut (copra) oil to Cote d'Ivoire, comprising 71% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 18% share of total imports. It was followed by Sri Lanka, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value from Thailand stood at +53.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+110.5% per year) and Sri Lanka (+38.9% per year).

Import Prices by Country

In 2022, the average coconut oil import price amounted to $X per ton, jumping by 33% against the previous year. Over the period under review, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 an increase of 39%. The import price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+53.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform