Coconut oilcake market in ECOWAS

Earlier Report Observations

The coconut oilcake market in ECOWAS saw a multi-year contraction, with volume falling from 23 612 metric tons in 2018 to 19 483 metric tons in 2022. The most significant single-year drop occurred in 2021, when the market shrank by over 8% to 20 485 metric tons.

After five years of decline, the market stabilized in 2023, recording a modest increase to 19 785 metric tons. Overall, the period from 2018 to 2023 was marked by a reduction in total market volume of approximately 16%.

Production coconut oilcake in ECOWAS

In kind, 2017-2020, t

Top producers of coconut oilcake, 2017-2020

World map of production of coconut oilcake, 2017-2020

Coconut oilcake production in ECOWAS declined for the second consecutive year. In 2020, production reached 22 327 tonnes, marking a 2.3% decrease compared to the previous year. The highest production level was recorded in 2018 at 23 625 tonnes, which represented a 4.3% increase. The most significant decline occurred in 2019, with a drop of 3.3%.

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

Exports coconut oilcake from ECOWAS

Exports in kind, t

The market showed an unstable trend throughout the period. Exports reached their lowest point in 2017, while the highest volume was recorded in 2019, creating a 9.5-fold difference between these years. In 2020, ECOWAS exported 124 tonnes of coconut oilcake, which was 59.7% lower than in 2019. The peak export volume was 308 tonnes in 2019, representing a substantial increase of 264.0%.

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

From 2017 to 2020, China, Turkey, and Australia were the key export partners for coconut oilcake in terms of volume. China accounted for 31.7% of exports, Turkey for 29.2%, and Australia for 11.3%. Together, these three countries represented 72.3% of total export flows.

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

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

Exports in value, K $ US

The data reveals irregular changes, indicating a volatile market environment. Export values reached their minimum in 2018 and peaked in 2019, with a 3.6-fold difference between these years. In 2020, cross-border shipments of coconut oilcake from ECOWAS totaled 35.2 thousand US dollars, showing a steep decline of 37.5% compared to the previous year. The lowest value was recorded in 2018 at 15.6 thousand US dollars, while the highest was in 2019 at 56.4 thousand US dollars. The most significant decline occurred in 2018, falling by 56.9%, while the largest increase was in 2019, rising by 261.4%.

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

Throughout 2017–2020, China, Turkey, and Australia remained the primary destinations for coconut oilcake exports in value terms. China's share was 36.1%, Turkey's was 20.0%, and Australia's was 15.3%. Collectively, these three countries accounted for 71.5% of total export flows.

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

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

Imports coconut oilcake to ECOWAS

Imports in kind, t

Volatility characterized the market behavior during these years. Import volumes reached their minimum in 2018 and peaked in 2020, with a 2.9-fold difference between these years. In 2020, ECOWAS imported approximately 208 tonnes of coconut oilcake, equivalent to a sharp increase of 167.8% compared to the previous year. The lowest import volume was recorded in 2018 at 72 tonnes, and the most significant decline occurred that same year, dropping by 38.7%.

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

Over the period from 2017 to 2020, Indonesia and China consistently remained the main sources for imports in terms of volume. Together, they accounted for 3.6% of total import flows.

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

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

Imports in value, K $ US

There were noticeable fluctuations in market performance during the period. Import values reached their trough in 2017 and peaked in 2020, showing a 4.2-fold fluctuation. In 2020, ECOWAS's coconut oilcake imports stood at 249.4 thousand US dollars, up by 152.5% from the previous year. The largest decline was recorded in 2019, falling by 45.1%, while the most significant increase occurred in 2018, rising by 205.6%.

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

From 2017 to 2020, the key suppliers of coconut oilcake to ECOWAS were Indonesia and China. Their combined share reached 71.1% of total imports in value terms.

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

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