Cote d'Ivoire: Kola Nut Market 2024

Kola Nut Market Size in Cote d'Ivoire

The Cote d'Ivoire's kola nut market reduced slightly to $X in 2022, waning by -2.4% against the previous year. Over the period under review, consumption, however, recorded a noticeable shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Kola Nut Production in Cote d'Ivoire

In value terms, kola nut production shrank to $X in 2022 estimated in export price. In general, production, however, showed a perceptible contraction. The pace of growth was the most pronounced in 2019 when the production volume increased by 20% against the previous year. Kola nut production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of kola nuts in Cote d'Ivoire reduced to X kg per ha, remaining relatively unchanged against the previous year's figure. Overall, the yield, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the yield increased by 1%. Over the period under review, the average kola nut yield hit record highs at X kg per ha in 2018; however, from 2019 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The kola nut harvested area in Cote d'Ivoire stood at X ha in 2022, remaining constant against 2021. Over the period under review, the harvested area, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the harvested area increased by 11%. As a result, the harvested area attained the peak level of X ha. From 2016 to 2022, the growth of the kola nut harvested area failed to regain momentum.

Kola Nut Exports

Exports from Cote d'Ivoire

After three years of growth, overseas shipments of kola nuts decreased by -49.2% to X tons in 2022. Over the period under review, exports continue to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 129%. As a result, the exports attained the peak of X tons, and then declined dramatically in the following year.

In value terms, kola nut exports declined notably to $X in 2022. In general, exports, however, saw pronounced growth. The pace of growth was the most pronounced in 2021 with an increase of 182% against the previous year. As a result, the exports attained the peak of $X, and then dropped markedly in the following year.

Exports by Country

Burkina Faso (X tons) was the main destination for kola nut exports from Cote d'Ivoire, accounting for a 64% share of total exports. Moreover, kola nut exports to Burkina Faso exceeded the volume sent to the second major destination, Nigeria (X tons), fourfold. Ghana (X tons) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2022, the average annual growth rate of volume to Burkina Faso amounted to +21.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (-9.7% per year) and Ghana (-4.0% per year).

In value terms, the United States ($X), Burkina Faso ($X) and Nigeria ($X) appeared to be the largest markets for kola nut exported from Cote d'Ivoire worldwide, with a combined 86% share of total exports.

Burkina Faso, with a CAGR of +20.0%, recorded the highest growth rate of 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 kola nut export price amounted to $X per ton, jumping by 33% against the previous year. In general, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, kola nut export price increased by +74.0% against 2017 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 34%. The export price peaked in 2022 and is expected to retain growth in years to come.

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 the United States ($X per ton), while the average price for exports to Nigeria ($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 United States (+31.3%), while the prices for the other major destinations experienced more modest paces of growth.

Kola Nut Imports

Imports into Cote d'Ivoire

Kola nut imports into Cote d'Ivoire dropped dramatically to X kg in 2020, which is down by -28.4% on the previous year's figure. Overall, imports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2019 when imports increased by 296%. As a result, imports reached the peak of X kg, and then dropped rapidly in the following year.

In value terms, kola nut imports contracted dramatically to $X in 2020. In general, imports, however, saw a strong increase. The pace of growth appeared the most rapid in 2019 when imports increased by 308% against the previous year. As a result, imports attained the peak of $X, and then declined notably in the following year.

Imports by Country

In 2020, Belgium (X kg) was the main kola nut supplier to Cote d'Ivoire, with a approx. 100% share of total imports.

From 2017 to 2020, the average annual rate of growth in terms of volume from Belgium was relatively modest.

In value terms, Belgium ($X) constituted the largest supplier of kola nuts to Cote d'Ivoire.

From 2017 to 2020, the average annual growth rate of value from Belgium was relatively modest.

Import Prices by Country

In 2020, the average kola nut import price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 2.9%. As a result, import price attained the peak level of $X per ton, leveling off in the following year.

As there is only one major supplying country, the average price level is determined by prices for Belgium.

From 2017 to 2020, the rate of growth in terms of prices for Ghana amounted to -12.9% per year.

Source: IndexBox Platform