Groundnut oil and fractions market in Senegal

Earlier Report Observations

The revival of the state-owned oil processor Sonacos and government policies mandating local groundnut oil for small packaging formats drove production growth from 175.9 thousand tons in 2018 to 183.9 thousand tons in 2019. However, the domestic market volume contracted from 139.6 to 121.1 thousand tons over the same period as exports surged. In 2020, production dropped to 140.0 thousand tons, but the introduction of a guaranteed minimum price for peanuts and climate-resilient seed varieties helped stabilize the supply chain.

Production recovered to 153.5 thousand tons in 2021 after local industrialists committed to annual output targets of 197 000 tons. The growth continued into 2022, reaching 163.8 thousand tons, largely due to the November 2022 ban on peanut exports, which ensured more raw material for domestic crushing. Consequently, the domestic market volume rose steadily from 131.6 thousand tons in 2020 to 150.1 thousand tons in 2022.

In 2023, production fell back to 137.1 thousand tons and the market volume declined to 135.3 thousand tons. This contraction coincided with reported overstocking of unsold oil at Sonacos, indicating weak domestic demand despite ongoing price supports and efforts to increase local processing.

Production groundnut oil and fractions in Senegal

In kind, 2017-2020, K t

From 2017 to 2020, Senegal ranked 7th globally in groundnut oil and fractions production.

Top producers of groundnut oil and fractions, 2017-2020

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

Senegal's groundnut oil and fractions production declined after two years of growth. In 2019, output peaked at 183.9 thousand tonnes, but by 2020 it had fallen to 140.0 thousand tonnes—a significant 23.9% drop from the previous year. Over the 2017–2020 period, production decreased by 4.2%, with an average annual decline of 1.4%. The largest increase occurred in 2018, when production rose by 20.4%.

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

In value, 2017-2020, M $ US

Senegal's groundnut oil and fractions production declined for the third consecutive year. In 2020, output was valued at 195.4 million US dollars, marking a modest 5.4% decrease compared to 2019. Over the 2017–2020 period, production value fell by 9.5%, with an average annual decline of 3.3%.

Annual dynamics of production in Senegal in value, 2017-2020, M $ US

Exports groundnut oil and fractions from Senegal

Exports in kind, t

Groundnut oil and fractions exports from Senegal showed noticeable fluctuations during this period. In 2019, exports reached their highest level at 62 854 tonnes, but by 2020 they had dropped sharply to 8 455 tonnes—an 86.5% year-on-year decrease. This represents a 7.4-fold difference between the peak and trough years. The largest increase occurred in 2018, when exports grew by 89.0%.

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

From 2017 to 2020, China, the Netherlands, and Italy were the main destinations for Senegal's groundnut oil and fractions exports in volume terms. China accounted for 35.8% of exports, the Netherlands for 16.3%, and Italy for 15.6%. Together, these three countries represented 67.8% of total export flows.

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

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

Exports in value, K $ US

Senegal's groundnut oil and fractions exports in value terms displayed considerable volatility. In 2019, export value peaked at 70 574 thousand US dollars, but by 2020 it had fallen to 11 800 thousand US dollars—an 83.3% decrease from the previous year. This represents a six-fold difference between the highest and lowest years. The largest increase occurred in 2019, when export value rose by 64.8%.

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

From 2017 to 2020, China, the Netherlands, and Italy consistently remained the primary destinations for Senegal's groundnut oil and fractions exports in value terms. China accounted for 34.6% of export value, the Netherlands for 17.4%, and Italy for 16.4%. Collectively, these three markets represented 68.4% of total export flows.

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

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

Imports groundnut oil and fractions to Senegal

Imports in kind, t

Senegal's imports of groundnut oil and fractions in volume terms showed volatility during the observed period. In 2017, imports reached their highest level, but by 2018 they had fallen to just 7 tonnes—a 96.8% decrease and a 32-fold difference between these two years. In 2020, imports totaled 8 tonnes, down 9.0% from the previous year. The largest increase occurred in 2019, when imports grew by 35.1%.

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

Throughout 2017–2020, China dominated Senegal's groundnut oil and fractions imports in volume terms, accounting for 91.3% of total import flows.

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

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

Imports in value, K $ US

Senegal's imports of groundnut oil and fractions in value terms revealed irregular changes, indicating a volatile market. In 2017, import value reached its highest point, but by 2019 it had dropped to just 3 thousand US dollars—an 81.7% decrease from 2018 and a 26-fold difference between the peak and trough years. In 2020, imports rose to approximately 7 thousand US dollars, representing a 113.0% increase from the previous year.

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

From 2017 to 2020, China remained the dominant partner for Senegal's groundnut oil and fractions imports in value terms, accounting for 80.3% of total import flows, while other markets formed a long tail.

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

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