Cote d'Ivoire: Linseed Oil Market 2024

Linseed Oil Market Size in Cote d'Ivoire

The Cote d'Ivoire's linseed oil market soared to $X in 2022, picking up by 18% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate temperate growth. Linseed oil consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Linseed Oil Exports

Exports from Cote d'Ivoire

After three years of growth, overseas shipments of linseed oil decreased by -7.6% to X kg in 2022. Overall, exports faced a precipitous decline. The pace of growth was the most pronounced in 2016 with an increase of 122% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, linseed oil exports fell markedly to $X in 2022. Over the period under review, exports faced a significant decrease. The pace of growth was the most pronounced in 2016 with an increase of 328%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Togo (X kg) was the main destination for linseed oil exports from Cote d'Ivoire, accounting for a 71% share of total exports. Moreover, linseed oil exports to Togo exceeded the volume sent to the second major destination, France (X kg), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Togo amounted to -36.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+17.1% per year) and Burkina Faso (-52.4% per year).

In value terms, Togo ($X) remains the key foreign market for linseed oil exports from Cote d'Ivoire, comprising 68% of total exports. The second position in the ranking was taken by France ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Togo stood at -32.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+24.0% per year) and Burkina Faso (-42.7% per year).

Export Prices by Country

In 2022, the average linseed oil export price amounted to $X per ton, dropping by -9.7% against the previous year. Overall, the export price, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2016 an increase of 93%. The export price peaked at $X per ton in 2021, and then fell in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Burkina Faso ($X per ton), while the average price for exports to France ($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 Burkina Faso (+20.3%), while the prices for the other major destinations experienced more modest paces of growth.

Linseed Oil Imports

Imports into Cote d'Ivoire

In 2022, imports of linseed oil into Cote d'Ivoire declined to X tons, almost unchanged from the previous year. Overall, imports saw a abrupt contraction. The pace of growth appeared the most rapid in 2020 when imports increased by 366%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, linseed oil imports skyrocketed to $X in 2022. Over the period under review, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when imports increased by 306% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Lebanon (X tons) constituted the largest supplier of linseed oil to Cote d'Ivoire, with a 73% share of total imports. Moreover, linseed oil imports from Lebanon exceeded the figures recorded by the second-largest supplier, China (X kg), sixfold. Belgium (X kg) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Lebanon amounted to +121.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+85.5% per year) and Belgium (-25.2% per year).

In value terms, Lebanon ($X) constituted the largest supplier of linseed oil to Cote d'Ivoire, comprising 75% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by Belgium, with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Lebanon stood at +147.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+105.7% per year) and Belgium (-23.9% per year).

Import Prices by Country

In 2022, the average linseed oil import price amounted to $X per ton, surging by 26% against the previous year. Over the period under review, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, linseed oil import price increased by +97.3% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 56% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lebanon (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform