Cote d'Ivoire: Crude Coconut Oil Market 2024

Crude Coconut Oil Market Size in Cote d'Ivoire

The Cote d'Ivoire's crude coconut oil market contracted to $X in 2022, with a decrease of -10.8% against the previous year. Over the period under review, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.3% 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 +79.3% against 2020 indices. Crude coconut oil consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Crude Coconut Oil Production in Cote d'Ivoire

In value terms, crude coconut oil production dropped modestly to $X in 2022 estimated in export price. In general, production recorded a strong increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 57%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Crude Coconut Oil Exports

Exports from Cote d'Ivoire

In 2022, crude coconut oil exports from Cote d'Ivoire expanded significantly to X tons, with an increase of 14% on the year before. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by 63% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, crude coconut oil exports skyrocketed to $X in 2022. Overall, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 148% against the previous year. The exports peaked 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 crude coconut oil exports from Cote d'Ivoire, with a combined 88% share 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 +94.1%), while the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X), Mali ($X) and Spain ($X) were the largest markets for crude coconut oil exported from Cote d'Ivoire worldwide, together accounting for 93% of total exports.

Mali, with a CAGR of +104.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average crude coconut oil export price amounted to $X per ton, picking up by 16% against the previous year. In general, the export price recorded resilient growth. The most prominent rate of growth was recorded in 2016 when the average export price increased by 52%. Over the period under review, the average export prices attained the maximum 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 Nigeria (+53.7%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Coconut Oil Imports

Imports into Cote d'Ivoire

After two years of decline, purchases abroad of crude coconut (copra) oil increased by 30% to X kg in 2022. Over the period under review, imports showed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 1,775% against the previous year. Imports peaked at X kg in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, crude coconut oil imports expanded markedly to $X in 2022. In general, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 2,107% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Sri Lanka (X kg) was the main crude coconut oil supplier to Cote d'Ivoire, with a 92% share of total imports. Moreover, crude coconut oil imports from Sri Lanka exceeded the figures recorded by the second-largest supplier, France (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Sri Lanka stood at +45.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+23.1% per year) and India (-53.7% per year).

In value terms, Sri Lanka ($X) constituted the largest supplier of crude coconut (copra) oil to Cote d'Ivoire, comprising 94% of total imports. The second position in the ranking was taken by France ($X), with a 4.4% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Sri Lanka amounted to +38.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+42.3% per year) and India (-46.1% per year).

Import Prices by Country

In 2022, the average crude coconut oil import price amounted to $X per ton, declining by -11.5% against the previous year. Over the period under review, the import price continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2016 when the average import price increased by 37% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+16.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform