Cote d'Ivoire: Coconut Market 2024

Coconut Market Size in Cote d'Ivoire

The Cote d'Ivoire's coconut market rose to $X in 2022, growing by 3.8% against the previous year. In general, consumption, however, continues to indicate a deep reduction. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Coconut Production in Cote d'Ivoire

In value terms, coconut production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2014 with an increase of 27% against the previous year. Coconut production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

The average yield of coconuts in Cote d'Ivoire amounted to X tons per ha in 2022, therefore, remained relatively stable against the previous year's figure. Over the period under review, the yield, however, continues to indicate a pronounced reduction. The pace of growth was the most pronounced in 2020 when the yield increased by 29%. Over the period under review, the average coconut yield hit record highs at X tons per ha in 2013; however, from 2014 to 2022, the yield stood at a somewhat 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 coconuts were harvested in Cote d'Ivoire; remaining constant against the previous year's figure. Over the period under review, the total harvested area indicated perceptible growth from 2012 to 2022: its figure increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coconut harvested area decreased by +0.4% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 59%. As a result, the harvested area attained the peak level of X ha. From 2019 to 2022, the growth of the coconut harvested area remained at a lower figure.

Coconut Exports

Exports from Cote d'Ivoire

In 2022, the amount of coconuts exported from Cote d'Ivoire dropped to X tons, waning by -5% compared with the previous year. Over the period under review, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2015 when exports increased by 340%. The exports peaked 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, recorded a significant increase. The pace of growth was the most pronounced in 2015 when exports increased by 257%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons), Senegal (X tons) and Burkina Faso (X tons) were the main destinations of coconut exports from Cote d'Ivoire, together accounting for 43% of total exports. Niger, Russia, Mali, France, the UK, Italy, Turkey, Spain and the Dominican Republic lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Niger (with a CAGR of +105.5%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) remains the key foreign market for coconuts exports from Cote d'Ivoire, comprising 26% of total exports. The second position in the ranking was held by Russia ($X), with a 9.6% share of total exports. It was followed by the UK, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands stood at +34.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+11.6% per year) and the UK (+40.0% per year).

Export Prices by Country

The average coconut export price stood at $X per ton in 2022, which is down by -2.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2014 an increase of 28%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Mali ($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 the UK (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

Coconut Imports

Imports into Cote d'Ivoire

In 2022, purchases abroad of coconuts increased by 7% to X tons, rising for the second consecutive year after three years of decline. Overall, imports showed a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 476%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, coconut imports declined to $X in 2022. In general, imports showed a prominent expansion. The growth pace was the most rapid in 2017 when imports increased by 525% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, Vietnam (X tons) was the main coconut supplier to Cote d'Ivoire, accounting for a 95% share of total imports. It was followed by the UK (X kg), with a 1.6% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Vietnam stood at +84.2%.

In value terms, Vietnam ($X) constituted the largest supplier of coconuts to Cote d'Ivoire, comprising 86% of total imports. The second position in the ranking was taken by the UK ($X), with a 0.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Vietnam amounted to +60.7%.

Import Prices by Country

The average coconut import price stood at $X per ton in 2022, falling by -19.6% against the previous year. In general, the import price continues to indicate a deep setback. The growth pace was the most rapid in 2018 when the average import price increased by 112%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for the UK totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-12.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform