Market research

Coconut oil and fractions market in ECOWAS

$Coconut oil and fractions market in ECOWAS$

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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"ECOWAS" region includes following countries:

Benin

Burkina Faso

Gambia

Ghana

Guinea

Guinea-Bissau

Côte d'Ivoire

Cabo Verde

Liberia

Mali

Niger

Nigeria

Senegal

Sierra Leone

Togo

Earlier Report Observations

The coconut oil market in ECOWAS is characterized by a dominance of small-scale farmers and traditional production methods. Market volume stood at 39 350 tons in 2018 but began to decline in subsequent years. The COVID-19 pandemic in 2020 caused significant disruptions in international supply chains, contributing to a reduction in market volume to 33 126 tons.

Market volume continued to decline through 2021 and 2022, reaching a low of 24 274 tons, even as consumer preferences shifted toward natural, organic, and fair-trade products, and producers adopted more sustainable practices.

In 2023, market volume rebounded sharply to 35 848 tons, a 48% increase from 2022. This recovery was driven by global supply chain disruptions due to climatic and economic factors, which affected the availability and trade flows of coconut oil in the region.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in ECOWAS
  1. 5.1.1. Annual dynamics of production in ECOWAS in kind, 2018-2023, t
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data*)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, t
    1. 6.1.2.1. Annual dynamics of product's imports to Benin in kind, 2018-2024, t
    2. 6.1.2.2. Dynamics of product's imports in kind to Benin by countries, 2018-2024, t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Benin in value, 2018-2024, K $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Benin by countries, 2018-2024, K $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Benin, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to Benin by countries, 2018-2024, $ US/t
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, t
    1. 6.2.2.1. Annual dynamics of product's imports to Benin in kind, 2018-2024, t
    2. 6.2.2.2. Dynamics of product's imports in kind to Benin by countries, 2018-2024, t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Benin in value, 2018-2024, K $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Benin by countries, 2018-2024, K $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Benin, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to Benin by countries, 2018-2024, $ US/t
7. Exports
1. 7.1. Exports (Direct Data*)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, t
    1. 7.1.2.1. Annual dynamics of product's exports from Benin in kind, 2018-2024, t
    2. 7.1.2.2. Dynamics of product's exports in kind from Benin by countries, 2018-2024, t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.1.3. Exports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Benin in value, 2018-2024, K $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Benin by countries, 2018-2024, K $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's exports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Benin, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's exports from Benin by countries, 2018-2024, $ US/t
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, t
    1. 7.2.2.1. Annual dynamics of product's exports from Benin in kind, 2018-2024, t
    2. 7.2.2.2. Dynamics of product's exports in kind from Benin by countries, 2018-2024, t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.2.3. Exports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Benin in value, 2018-2024, K $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Benin by countries, 2018-2024, K $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's exports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Benin, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's exports from Benin by countries, 2018-2024, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, t
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, t
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production coconut oil and fractions in ECOWAS

In kind, 2017-2020, t

Top producers of coconut oil and fractions, 2017-2020

Source: SHEV.io

World map of production of coconut oil and fractions, 2017-2020

Source: SHEV.io

Coconut oil and fractions production in ECOWAS declined for the second consecutive year. In 2020, 42 443 tonnes were produced, reflecting a slight decline of 2.8% compared to 2019. Production decreased by 2.8% overall between 2017 and 2020, equating to an annualized rate of 0.9%. The highest production level was recorded in 2018 at 44 149 tonnes, which also saw the largest annual increase of 1.2%.

Annual dynamics of production in ECOWAS in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	1.2%	(1.0%)	(2.8%)	(0.9%)

Source: SHEV.io

Exports coconut oil and fractions from ECOWAS

Exports in kind, t

ECOWAS's coconut oil and fractions export volume increased for the second consecutive year. In 2020, exports reached 9 568 tonnes, showing a steep increase of 30.3% compared to 2019. Over the period 2017-2020, exports grew by 46.1%, with a compound annual growth rate (CAGR) of 13.5%. The lowest export volume was recorded in 2018 at 5 574 tonnes, which also experienced the largest decline of 14.9%. The largest increase occurred in 2019, with a 31.7% rise.

Annual dynamics of product's exports from ECOWAS in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(14.9%)	31.7%	30.3%	13.5%

Source: SHEV.io

During 2017–2020, Switzerland (20.1% of exports in kind), Spain (13.4%), and the Netherlands (7.6%) were important buyers of coconut oil and fractions from ECOWAS. However, their combined share reached only 41.2% of total exports in kind, with the remaining 58.8% distributed among many other trading partners.

Structure of product's exports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's exports from ECOWAS in kind, 2017-2020

Source: SHEV.io

Exports in value, K $ US

After a two-year decline, coconut oil and fractions exports in ECOWAS increased. In 2020, exports totalled 12 583 thousand US dollars, showing a sharp gain of 51.1% relative to the prior year. Between 2017 and 2020, exports increased by 23.6%, equating to an annualized rate of 7.3%. The lowest value was recorded in 2019 at 8 328 thousand US dollars, which also saw the largest decline of 14.1%.

Annual dynamics of product's exports from ECOWAS in value, 2017-2020, K $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(4.7%)	(14.1%)	51.1%	7.3%

Source: SHEV.io

Over 2017–2020, there was no single dominant market for coconut oil and fractions in value terms. Switzerland (26.1% of exports in value), Spain (11.9%), and the Netherlands (6.8%) together accounted for only 44.8% of total exports in value, while many smaller partners each held modest individual shares.

Structure of product's exports in value by countries, 2017-2020

Source: SHEV.io

World map of product's exports from ECOWAS in value, 2017-2020

Source: SHEV.io

Imports coconut oil and fractions to ECOWAS

Imports in kind, t

ECOWAS's coconut oil and fractions imports declined for the third consecutive year. In 2020, imports amounted to 251 tonnes, corresponding to a sharp decline of 60.0% from a year earlier. Over the period 2017-2020, imports decreased by 95.8%, with a compound annual growth rate (CAGR) of -65.2%.

Annual dynamics of product's imports to ECOWAS in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(87.0%)	(19.0%)	(60.0%)	(65.2%)

Source: SHEV.io

The analysis of imports in kind from 2017 to 2020 shows a broad distribution across many markets. Singapore (30.1% of imports in kind), Malaysia (12.2%), and Indonesia (1.5%) together accounted for only 43.8% of total flows, with a significant 56.2% coming from other partners.

Structure of product's imports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's imports to ECOWAS in kind, 2017-2020

Source: SHEV.io

Imports in value, K $ US

Coconut oil and fractions shipments to ECOWAS from abroad declined for the third consecutive year. In 2020, imports reached 612 thousand US dollars, representing a 9.7% drop from a year earlier. Over the period 2017-2020, imports decreased by 80.1%, with a compound annual growth rate (CAGR) of -41.6%.

Annual dynamics of product's imports to ECOWAS in value, 2017-2020, K $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(70.1%)	(26.2%)	(9.7%)	(41.6%)

Source: SHEV.io

Throughout 2017–2020, Singapore (34.7% of imports in value terms), Malaysia (16.9%), and Indonesia (4.9%) remained the key partners in imports in value terms, together accounting for 56.5% of total flows.

Structure of product's imports in value by countries, 2017-2020

Source: SHEV.io

World map of product's imports to ECOWAS in value, 2017-2020

Source: SHEV.io