ECOWAS: Refined Cotton-Seed Oil Market 2025

Refined Cotton-Seed Oil Market Size in ECOWAS

For the fourth year in a row, the ECOWAS refined cotton-seed oil market recorded decline in sales value, which decreased by -1.4% to $X in 2022. Over the period under review, consumption continues to indicate a pronounced curtailment. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Refined Cotton-Seed Oil Production in ECOWAS

In value terms, refined cotton-seed oil production reached $X in 2022 estimated in export price. Over the period under review, production, however, recorded a perceptible curtailment. The growth pace was the most rapid in 2013 when the production volume increased by 12% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Refined Cotton-Seed Oil Exports

Exports in ECOWAS

In 2022, approx. X tons of refined cotton-seed oil were exported in ECOWAS; growing by 124% compared with 2021. In general, exports recorded a tangible increase. The most prominent rate of growth was recorded in 2017 with an increase of 198%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, refined cotton-seed oil exports skyrocketed to $X in 2022. Over the period under review, exports posted a moderate increase. The most prominent rate of growth was recorded in 2017 with an increase of 231% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Benin was the key exporting country with an export of around X tons, which recorded 62% of total exports. It was distantly followed by Burkina Faso (X tons), creating a 36% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of +28.3%).

In value terms, Benin ($X) and Burkina Faso ($X) constituted the countries with the highest levels of exports in 2022.

Among the main exporting countries, Burkina Faso, with a CAGR of +28.3%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, increasing by 12% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 16% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Benin ($X per ton), while Burkina Faso amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (+0.0%).

Refined Cotton-Seed Oil Imports

Imports in ECOWAS

After four years of decline, supplies from abroad of refined cotton-seed oil increased by 27% to X tons in 2022. In general, imports, however, saw a noticeable reduction. The most prominent rate of growth was recorded in 2017 with an increase of 228%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, refined cotton-seed oil imports surged to $X in 2022. Over the period under review, imports, however, saw a deep setback. The most prominent rate of growth was recorded in 2017 when imports increased by 243% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Benin (X tons) and Nigeria (X tons) prevails in imports structure, together creating 89% of total imports. Niger (X tons), Mali (X tons) and Togo (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of +69.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Benin ($X) and Mali ($X) were the countries with the highest levels of imports in 2022, with a combined 92% share of total imports. Togo and Niger lagged somewhat behind, together accounting for a further 5.5%.

In terms of the main importing countries, Togo, with a CAGR of +93.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, falling by -5.3% against the previous year. Over the period under review, the import price recorded a noticeable contraction. The most prominent rate of growth was recorded in 2016 an increase of 13%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Togo ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+14.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform