Western Africa: Linseed Oil Market 2025

Linseed Oil Market Size in Western Africa

The West African linseed oil market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption, however, recorded a mild setback. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Linseed Oil Production in Western Africa

In value terms, linseed oil production expanded modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 14%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Linseed Oil Exports

Exports in Western Africa

After two years of decline, shipments abroad of linseed oil increased by 42% to X tons in 2022. Overall, exports, however, faced a deep downturn. The pace of growth appeared the most rapid in 2019 with an increase of 234%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, linseed oil exports skyrocketed to $X in 2022. In general, exports, however, recorded a abrupt contraction. The growth pace was the most rapid in 2019 when exports increased by 169% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Sierra Leone (X tons) and Gambia (X tons), together finishing at 98% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Sierra Leone (with a CAGR of +10.6%).

In value terms, Sierra Leone ($X) and Gambia ($X) were the countries with the highest levels of exports in 2022.

Among the main exporting countries, Sierra Leone, with a CAGR of +17.0%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, falling by -9.5% against the previous year. Overall, the export price saw a noticeable setback. The growth pace was the most rapid in 2016 when the export price increased by 112%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while Gambia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (+5.8%).

Linseed Oil Imports

Imports in Western Africa

In 2022, supplies from abroad of linseed oil was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, showed a slight decline. The growth pace was the most rapid in 2019 when imports increased by 70%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, linseed oil imports amounted to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 62%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Gambia dominates imports structure, amounting to X tons, which was near 97% of total imports in 2022. Guinea-Bissau (X tons) followed a long way behind the leaders.

Imports into Gambia increased at an average annual rate of +2.1% from 2012 to 2022. At the same time, Guinea-Bissau (+23.2%) displayed positive paces of growth. Moreover, Guinea-Bissau emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +23.2% from 2012-2022. Gambia (+25 p.p.) and Guinea-Bissau (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Gambia ($X) constitutes the largest market for imported linseed oil in Western Africa, comprising 95% of total imports. The second position in the ranking was taken by Guinea-Bissau ($X), with a 1.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Gambia totaled +1.9%.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, which is down by -4.4% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 12% against the previous year. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Gambia ($X per ton), while Guinea-Bissau stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Gambia (-0.1%).

Source: IndexBox Platform

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