Cote d'Ivoire: Refined Palm Oil Market 2025

Refined Palm Oil Market Size in Cote d'Ivoire

After three years of growth, the Cote d'Ivoire's refined palm oil market decreased by -3.5% to $X in 2022. Overall, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +101.1% against 2016 indices. Over the period under review, the market reached the peak level at $X in 2021, and then declined modestly in the following year.

Refined Palm Oil Production in Cote d'Ivoire

In value terms, refined palm oil production rose sharply to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2019 with an increase of 49% against the previous year. Refined palm oil production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Refined Palm Oil Exports

Exports from Cote d'Ivoire

After four years of decline, shipments abroad of refined palm oil increased by 9.9% to X tons in 2022. Overall, exports, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2015 when exports increased by 25% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined palm oil exports fell to $X in 2022. In general, exports, however, showed a abrupt setback. The pace of growth appeared the most rapid in 2015 when exports increased by 19% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Mali (X tons), Burkina Faso (X tons) and Niger (X tons) were the main destinations of refined palm oil exports from Cote d'Ivoire, with a combined 81% share of total exports. Ghana, Spain, Italy and Senegal lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +0.4%), while the other leaders experienced a decline.

In value terms, the largest markets for refined palm oil exported from Cote d'Ivoire were Mali ($X), Burkina Faso ($X) and Niger ($X), together accounting for 84% of total exports. Ghana, Senegal, Spain and Italy lagged somewhat behind, together comprising a further 14%.

Among the main countries of destination, Italy, with a CAGR of +5.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average refined palm oil export price stood at $X per ton in 2022, waning by -14% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 34%. As a result, the export price attained the peak level of $X per ton, and then reduced 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 Ghana ($X per ton), while the average price for exports to Italy ($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 (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Palm Oil Imports

Imports into Cote d'Ivoire

In 2022, approx. X tons of refined palm oil were imported into Cote d'Ivoire; reducing by -41.7% compared with the previous year's figure. In general, imports, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2021 with an increase of 503%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, refined palm oil imports plummeted to $X in 2022. Over the period under review, imports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 643%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Indonesia (X tons), Malaysia (X tons) and Ghana (X tons) were the main suppliers of refined palm oil imports to Cote d'Ivoire, together accounting for 99% of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +89.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Malaysia ($X) and Ghana ($X) were the largest refined palm oil suppliers to Cote d'Ivoire, together comprising 99% of total imports.

Indonesia, with a CAGR of +83.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average refined palm oil import price amounted to $X per ton, which is down by -2.7% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by 48%. Over the period under review, average import prices hit record highs at $X per ton in 2012; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ghana ($X per ton), while the price for Indonesia ($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 (+6.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform