Report Update Nov 1, 2024

Western Africa - Sunflower Oilcake - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Sunflower Oilcake Market 2024

Sunflower Oilcake Market Size in Western Africa

The West African sunflower oilcake market fell slightly to $X in 2021, declining by -1.8% against the previous year. The market value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Sunflower Oilcake Production in Western Africa

In value terms, sunflower oilcake production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 20% against the previous year. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Sunflower Oilcake Exports

Exports in Western Africa

Sunflower oilcake exports contracted sharply to X kg in 2021, declining by -99.4% against the year before. Overall, exports recorded a dramatic descent. The pace of growth was the most pronounced in 2015 with an increase of 6.2%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, sunflower oilcake exports contracted remarkably to $X in 2021. Over the period under review, exports continue to indicate a dramatic decrease. The smallest decline of -4.2% was in 2015. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of sunflower oilcake, namely Nigeria, represented more than two-thirds of total export.

Nigeria experienced a relatively flat trend pattern with regard to volume of exports of sunflower oilcake. From 2014 to 2021, the share of Nigeria increased by +99 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

From 2014 to 2021, the average annual growth rate of value in Nigeria was relatively modest.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, picking up by 44% against the previous year. In general, the export price posted significant growth. The growth pace was the most rapid in 2016 when the export price increased by 248% against the previous year. The level of export peaked at $X per ton in 2018; afterwards, it flattened through to 2021.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2014 to 2021, the rate of growth in terms of prices for Nigeria amounted to 0.0% per year.

Sunflower Oilcake Imports

Imports in Western Africa

After two years of growth, purchases abroad of sunflower oilcake decreased by -6.4% to X tons in 2021. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 93%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, sunflower oilcake imports shrank to $X in 2021. Over the period under review, imports saw a perceptible descent. The pace of growth appeared the most rapid in 2017 with an increase of 71% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Senegal (X tons) represented the key importer of sunflower oilcake, making up 79% of total imports. It was distantly followed by Cabo Verde (X tons), mixing up a 19% share of total imports. Ghana (X tons) took a relatively small share of total imports.

Imports into Senegal decreased at an average annual rate of -2.8% from 2012 to 2021. At the same time, Ghana (+79.9%) and Cabo Verde (+26.4%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +79.9% from 2012-2021. From 2012 to 2021, the share of Cabo Verde and Ghana increased by +17 and +1.8 percentage points, respectively.

In value terms, Senegal ($X) constitutes the largest market for imported sunflower oilcake in Western Africa, comprising 74% of total imports. The second position in the ranking was held by Cabo Verde ($X), with a 24% share of total imports.

In Senegal, sunflower oilcake imports decreased by an average annual rate of -6.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Cabo Verde (+28.5% per year) and Ghana (+74.1% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, falling by -2.1% against the previous year. In general, the import price continues to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2016 an increase of 9% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Cabo Verde ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cabo Verde (+1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for sunflower oilcake in Western Africa?

Nigeria constituted the country with the largest volume of sunflower oilcake consumption, comprising approx. 47% of total volume. Moreover, sunflower oilcake consumption in Nigeria exceeded the figures recorded by the second-largest consumer, Ghana, fivefold. Cote d'Ivoire ranked third in terms of total consumption with an 8.9% share.

What are the largest producers of sunflower oilcake in Western Africa?

Nigeria remains the largest sunflower oilcake producing country in Western Africa, accounting for 47% of total volume. Moreover, sunflower oilcake production in Nigeria exceeded the figures recorded by the second-largest producer, Ghana, fivefold. The third position in this ranking was occupied by Cote d'Ivoire, with a 9% share.

What are the leading importers of sunflower oilcake in Western Africa?

In value terms, Senegal constitutes the largest market for imported sunflower oilcake in Western Africa, comprising 65% of total imports. The second position in the ranking was occupied by Cabo Verde, with a 29% share of total imports. It was followed by Niger, with a 2.4% share.

What is the average export price for sunflower oilcake in Western Africa?

The sunflower oilcake export price in Western Africa stood at $207 per ton in 2019, surging by 203% against the previous year.

What is the average import price for sunflower oilcake in Western Africa?

In 2020, the sunflower oilcake import price in Western Africa amounted to $289 per ton, falling by -1.6% against the previous year.

This report provides an in-depth analysis of the sunflower oilcake market in Western Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10414150 - Oilcake and other solid residues resulting from the extraction of sunflower seed fats or oils

Country coverage:

Benin
Burkina Faso
Cabo Verde
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Mauritania
Niger
Nigeria
Saint Helena, Ascension and Tristan da Cunha
Senegal
Sierra Leone
Togo
Cote d'Ivoire

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in Western Africa, split by region and country
Trade (exports and imports) in Western Africa
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023