Coconuts market in Nigeria

Earlier Report Observations

The market volume of coconuts in Nigeria showed a varied trajectory from 2018 to 2023, beginning at 269.5 thousand tons and ending at 287.9 thousand tons. Overall, the market expanded by 6.8%, but this growth was not linear, with notable declines in intermediate years.

Domestic production held steady at approximately 271-274 thousand tons between 2018 and 2022, before rising to 284.5 thousand tons in 2023. Export activity significantly influenced domestic availability; a jump in exports to 55.0 thousand tons in 2021 sharply reduced the market volume to 216.9 thousand tons, while the cessation of exports in 2023 helped push the market to its peak.

Imports remained a small factor, typically below 1 thousand tons, though they increased to 3.4 thousand tons in 2023. The period closed with a strong market volume in 2023, supported by higher production and no export outflows.

Production coconuts in Nigeria

In kind, 2017-2020, K t

Between 2017 and 2020, Nigeria ranked as the 19th largest producer of coconuts globally.

Top producers of coconuts, 2017-2020

World map of production of coconuts, 2017-2020

In 2020, Nigeria produced 271.3 thousand tonnes of coconuts, representing a slight contraction of 1.3% compared to the previous year. Over the period from 2017 to 2020, production decreased by 2.2%, which translates to an annualized decline of 0.7%. The largest drop occurred in 2018, with a decrease of 1.3%, while the highest increase was recorded in 2019 at 0.4%.

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

Exports coconuts from Nigeria

Exports in kind, t

The data reveals irregular changes, indicating a volatile market environment. Export volumes varied significantly, with a 3.5-fold difference between the low in 2019 and the high in 2020. In 2020, Nigeria's coconut export volume totaled 8 662 tonnes, marking a sharp gain of 248.0% year-over-year. The minimum value was recorded in 2019 at 2 489 tonnes, with the largest decline that year at 42.6%.

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

From 2017 to 2020, Vietnam, India, and Belgium accounted for the largest share of Nigeria's coconut exports in volume terms. Vietnam led with 56.2% of exports, followed by India at 12.2% and Belgium at 9.6%. Together, these three countries comprised 78.0% of total export flows.

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

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

Exports in value, K $ US

The market showed signs of volatility over the observed period. Export values peaked in 2020 and dropped to their lowest point in 2019, with a top-to-bottom ratio of 3.9 times. In 2020, foreign coconut supplies from Nigeria totaled 9 650 thousand US dollars, up by 293.0% from 2019. The minimum value was recorded in 2019 at 2 455 thousand US dollars, with the largest decline that year at 71.1%.

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

Between 2017 and 2020, Vietnam, Belgium, and India were the main destinations for Nigeria's coconut exports in value terms. Vietnam accounted for 47.6% of exports, Belgium for 13.8%, and India for 10.6%. Together, these three countries absorbed 72.0% of total export value.

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

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

Imports coconuts to Nigeria

Imports in kind, t

Volatility characterized the market behavior during these years. Import volumes varied by 2.5 times, from the low in 2017 to the high in 2019. In 2020, imported coconut volumes in Nigeria reached 120 tonnes, marking a decline of 39.8% from 2019. The maximum value was recorded in 2019 at 200 tonnes, with the largest increase occurring in 2018 at 109.8%.

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

From 2017 to 2020, China, India, and Indonesia were the primary sources for Nigeria's coconut imports in volume terms. China accounted for 35.1% of imports, India for 24.3%, and Indonesia for 20.3%. Together, these three countries comprised 79.7% of total import flows.

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

Coconut shipments to Nigeria from abroad declined for the second consecutive year. In 2020, imports came to 110 thousand US dollars, amounting to a sharp drop of 26.5% compared to the previous year. Between 2017 and 2020, imports decreased by 40.8%, equating to an annualized decline of 16.0%. The maximum value was recorded in 2018 at 293 thousand US dollars, with the largest decline in 2019 at 48.9% and the largest increase in 2018 at 57.6%.

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

Throughout 2017 to 2020, India, China, and Indonesia remained the main markets for Nigeria's coconut imports in value terms. India accounted for 46.3% of imports, China for 21.8%, and Indonesia for 13.1%. Jointly, these three countries took 81.2% of total import flows.

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

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