ECOWAS: Cotton-Seed Oil Market 2025

Cotton-Seed Oil Market Size in ECOWAS

The ECOWAS cotton-seed oil market shrank to $X in 2021, which is down by -9.7% against the previous year. The market value increased at an average annual rate of +4.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Cotton-Seed Oil Production in ECOWAS

In value terms, cotton-seed oil production shrank to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 35% against the previous year. As a result, production attained the peak level of $X, and then declined in the following year.

Cotton-Seed Oil Exports

Exports in ECOWAS

For the ninth year in a row, ECOWAS recorded decline in shipments abroad of crude cotton-seed oil, which decreased by -10.8% to X tons in 2021. In general, exports recorded a sharp reduction. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, cotton-seed oil exports declined dramatically to $X in 2021. Overall, exports faced a significant curtailment. The smallest decline of -13.6% was in 2017. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Benin (X tons) was the key exporter of crude cotton-seed oil, creating 60% of total exports. It was distantly followed by Burkina Faso (X tons), achieving a 36% share of total exports. Cote d'Ivoire (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +24.5%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest cotton-seed oil supplying countries in ECOWAS were Benin ($X), Burkina Faso ($X) and Cote d'Ivoire ($X).

Among the main exporting countries, Cote d'Ivoire, with a CAGR of +25.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, dropping by -8.2% against the previous year. Over the period under review, the export price continues to indicate a perceptible curtailment. The growth pace was the most rapid in 2020 when the export price increased by 56%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Burkina Faso ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Burkina Faso (+4.9%), while the other leaders experienced mixed trends in the export price figures.

Cotton-Seed Oil Imports

Imports in ECOWAS

Cotton-seed oil imports surged to X tons in 2021, picking up by 139% compared with the year before. Over the period under review, imports recorded a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of 550%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, cotton-seed oil imports expanded sharply to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 260%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Mali represented the largest importing country with an import of around X tons, which amounted to 80% of total imports. It was distantly followed by Nigeria (X tons), comprising a 16% share of total imports. Togo (X tons) held a relatively small share of total imports.

Mali was also the fastest-growing in terms of the crude cotton-seed oil imports, with a CAGR of +77.2% from 2012 to 2021. Togo experienced a relatively flat trend pattern. Nigeria (-3.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mali increased by +78 percentage points.

In value terms, the largest cotton-seed oil importing markets in ECOWAS were Nigeria ($X), Mali ($X) and Togo ($X), together accounting for 91% of total imports.

In terms of the main importing countries, Mali, with a CAGR of +38.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, reducing by -53.9% against the previous year. In general, the import price faced a abrupt decline. The most prominent rate of growth was recorded in 2017 an increase of 65% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Nigeria ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (-1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform