Coconut oilcake market in Nigeria

Earlier Report Observations

The market volume for coconut oilcake in Nigeria remained relatively stable in 2018 and 2019 at around 5 945 tonnes and 5 949 tonnes, respectively. A pronounced contraction began in 2020, with the market falling to 5 324 tonnes, and continued through 2022 to a low of 3 828 tonnes. This was followed by a partial recovery to 4 030 tonnes in 2023.

This extended decline was driven by structural constraints within the domestic coconut sector. Key factors included aging coconut plantations, slow rates of replanting, and limited mechanization, which collectively restricted the supply of copra, the raw material for oil production. Furthermore, growing competition for coconuts from higher-value segments like virgin coconut oil and desiccated coconut reduced the feedstock available for traditional oil and oilcake manufacturing.

The market is intrinsically linked to coconut oil production, where mechanical extraction dominates, generating oilcake primarily as a by-product for animal feed blending. Recent years have also seen significant growth in Nigeria's coconut oil exports, indicating ongoing processing activity, though the overall supply of oilcake remains shaped by these persistent production challenges.

Production coconut oilcake in Nigeria

In kind, 2017-2020, t

Nigeria ranked 16th globally in coconut oilcake production from 2017 to 2020.

Top producers of coconut oilcake, 2017-2020

World map of production of coconut oilcake, 2017-2020

Nigeria's coconut oilcake production grew for two consecutive years before declining. In 2019, output reached its peak at 5,888 tonnes. However, by 2020, production had fallen to 5,205 tonnes, marking an 11.6% year-over-year decrease. The most significant growth occurred in 2018, with a 12.1% increase.

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

Exports coconut oilcake from Nigeria

Market data indicates that Nigeria did not export any coconut oilcake between 2017 and 2020.

Imports coconut oilcake to Nigeria

Imports in kind, t

Nigeria's coconut oilcake imports showed notable volatility during this period. Volumes hit their lowest point in 2019 at 60.9 tonnes, after peaking in 2017. The difference between these years was 2.2-fold. In 2020, imports surged to 118.8 tonnes, a sharp 94.9% increase compared to 2019. The steepest decline occurred in 2018, with a 50.6% drop.

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

From 2017 to 2020, Indonesia and China were the dominant sources of coconut oilcake imports to Nigeria, together accounting for 91.8% of total volume. Other countries contributed only minor shares.

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

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

Imports in value, K $ US

The value of Nigeria's coconut oilcake imports followed an erratic trend. It reached a low in 2017 and climbed to a high in 2018, with a 4.1-fold variation between these years. In 2020, import value totaled 127.1 thousand US dollars, up 124.5% from the previous year. The peak was recorded in 2018 at 176.6 thousand US dollars, while the largest decline of 68.0% happened in 2019. The most substantial increase, 306.2%, occurred in 2018.

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

Between 2017 and 2020, Indonesia dominated Nigeria's coconut oilcake imports in value terms, representing 87.7% of the total. Other countries collectively made up the remaining share.

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

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