Coconut, palm kernel or babassu oil and fractions market in Benin

Earlier Report Observations

The market volume for coconut, palm kernel or babassu oil and fractions in Benin increased from 9.7 thousand t in 2018 to 10.8 thousand t in 2020. This growth was supported by the traditional sector, which adapts to fluctuations in local demand, and by state-owned oil mills such as SONICOG facilitating the commercialization of raw materials. A significant state budgetary allocation for the oil palm sector, with 31.8% of the Ministry of Agriculture's budget and 62.9% from technical and financial partners earmarked for 2020–2024, provided further impetus for local production.

Market expansion accelerated, reaching 12.4 thousand t in 2021 and 12.7 thousand t in 2022. The National Oil Palm Development Program, launched with the goal of increasing sales of palm oil, palm kernel oil and derivatives by 50% by 2030, directly targeted market growth. Updated international quality standards for coconut, palm kernel and babassu oils in 2022 also influenced production practices, supporting market development.

In 2023, the market volume rose to 13.4 thousand t, sustained by continued support from technical and financial partners for the oil palm value chain, as outlined in the ongoing national development framework.

Production coconut, palm kernel or babassu oil and fractions in Benin

In kind, 2017-2020, t

Top producers of coconut, palm kernel or babassu oil and fractions, 2017-2020

World map of production of coconut, palm kernel or babassu oil and fractions, 2017-2020

Benin's production of coconut, palm kernel, or babassu oil and fractions has grown for the third year in a row. In 2020, the country produced 11 562 tonnes, marking a modest increase of 1.9% compared to 2019. Looking at the period from 2017 to 2020, production rose by 8.3%, which translates to an average annual growth rate of 2.7%.

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

In value, 2017-2020, K $ US

In 2020, the value of coconut, palm kernel, or babassu oil and fractions produced in Benin reached 3 699 thousand US dollars, up 7.5% from the previous year. Between 2017 and 2020, production value increased by 26.2%, with an average annual rate of 8.1%. The highest value was recorded in 2018 at 3 733 thousand US dollars, following a significant increase of 27.4% that year. However, in 2019, there was a notable decline of 7.8%.

Annual dynamics of production in Benin in value, 2017-2020, K $ US

Exports coconut, palm kernel or babassu oil and fractions from Benin

Exports in kind, t

The export market for these oils showed considerable volatility during this period. In 2020, Benin shipped 817 tonnes abroad, a sharp drop of 44.1% year-on-year. The peak was in 2018 with 1 894 tonnes, which saw a substantial increase of 121.5% that year. Overall, export levels varied by 2.3 times between the high in 2018 and the low in 2020.

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

From 2017 to 2020, the main destinations for Benin's exports of coconut, palm kernel, or babassu oil and fractions in volume terms were India, with a 40.8% share, the United Arab Emirates at 27.7%, and Germany with 15.5%. Together, these three countries accounted for 84.0% of total export flows.

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

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

Exports in value, K $ US

Export values also experienced significant fluctuations. In 2020, deliveries totaled 261 thousand US dollars, reflecting a sharp decline of 41.0% compared to 2019. The highest value was recorded in 2018 at 627 thousand US dollars, which saw a dramatic increase of 167.2% that year. The lowest value was in 2017, resulting in a 2.7-fold difference between the peak in 2018 and the trough in 2017.

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

In value terms, the key markets for Benin's exports from 2017 to 2020 were India, with a 43.4% share, the United Arab Emirates at 25.5%, and Germany with 15.9%. Collectively, these three destinations made up 84.9% of total export value.

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

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

Imports coconut, palm kernel or babassu oil and fractions to Benin

Imports in kind, t

Benin's imports of coconut, palm kernel, or babassu oil and fractions have fallen for the third consecutive year. In 2020, imports amounted to 24 tonnes, a decrease of 64.7% from the previous year. Over the period from 2017 to 2020, imports dropped by 99.5%, with an average annual decline rate of 83.5%.

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

Between 2017 and 2020, Singapore was the dominant source for Benin's imports of these oils in volume terms, holding a 77.3% share of total flows. Other markets contributed relatively small amounts, forming a long tail.

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

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

Imports in value, K $ US

Import values also declined for the third year in a row. In 2020, imports were valued at 10 thousand US dollars, showing a steep loss of 68.1% compared to the previous year. From 2017 to 2020, import value decreased by 99.5%, with an average annual rate of decline of 83.1%.

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

Throughout 2017 to 2020, Singapore dominated the import structure in value terms, accounting for 78.5% of total flows. Other destinations played a minor role in comparison.

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

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