Palm kernel or babassu oil and fractions market in Benin

Earlier Report Observations

From 2018 to 2023, the market volume of palm kernel or babassu oil and fractions in Benin expanded from 7,908 t to 12,655 t, with production rising from 9,800 t to 12,600 t. This sustained growth was primarily initiated by the government's strategic focus on revitalizing the palm oil sector through structured programs and investment.

The launch of the National Program for the Development of the Palm Oil Sector in 2020, aiming to boost productivity and sales by 50% by 2030, provided a clear framework. Its implementation included large-scale planting campaigns, such as the 2022 rollout of 1.75 million palm plants with state subsidies for 125,000, which directly increased raw material availability for oil extraction.

Further gains were supported by the introduction of higher-yielding and disease-resistant palm varieties like 'Tokounouvissoh' and 'Amidagbédé', alongside continued efforts to improve industrial processing capacity, which together enhanced overall output and market supply during the period.

Production palm kernel or babassu oil and fractions in Benin

In kind, 2017-2020, t

From 2017 to 2020, Benin ranked 21st globally in the production of palm kernel or babassu oil and fractions.

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

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

Production of palm kernel or babassu oil and fractions in Benin grew for the third consecutive year. In 2020, Benin produced 10 400 tonnes, marking a 2.0% increase from the previous year. Over the 2017-2020 period, production rose by 14.3%, with an average annual growth rate of 4.6%.

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

In value, 2017-2020, K $ US

In 2020, the output of palm kernel or babassu oil and fractions in Benin was valued at 3 327 thousand US dollars, showing a gradual year-over-year increase of 4.1%. From 2017 to 2020, production value grew by 33.1%, with an average annual growth rate of 10.0%. The largest decline occurred in 2019 at 1.6%, while the largest increase was in 2018 at 29.9%.

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

Exports palm kernel or babassu oil and fractions from Benin

Exports in kind, t

The market exhibited volatility during these years. Exports reached their lowest point in 2020 at 817 tonnes, down 42.2% from 2019, and peaked in 2018 at 1 894 tonnes. This represents a 2.3-fold variation between the high and low points. The largest increase was recorded in 2018 at 121.5%.

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

From 2017 to 2020, India, the United Arab Emirates, and Germany were the leading destinations for exports in kind, accounting for 40.2%, 28.0%, and 15.6% of exports, respectively. Together, they represented 83.8% 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

Market behavior was characterized by volatility during this period. Export values bottomed out in 2017 and peaked in 2018, varying by 2.7 times. In 2020, Benin exported 261.4 thousand US dollars worth of palm kernel or babassu oil and fractions, a sharp drop of 40.9% compared to 2019. The maximum value was recorded in 2018 at 627.3 thousand US dollars, with the largest increase that year at 167.2%.

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

Over 2017-2020, India, the United Arab Emirates, and Germany stood out as the main markets for exports in value terms, with shares of 43.4%, 25.5%, and 16.0%, respectively. Combined, they accounted for 84.9% of total export flows.

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

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

Imports palm kernel or babassu oil and fractions to Benin

Imports in kind, t

Market performance showed noticeable fluctuations during this period. Import volumes bottomed out in 2017 and peaked in 2019, with a top-to-bottom ratio of 557 times. In 2020, Benin's imports of palm kernel or babassu oil and fractions from abroad reached 4 tonnes, a 94.7% decrease compared to 2019. The maximum value was recorded in 2019 at 67 tonnes, with the largest increase that year at 4 352.5%.

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

Throughout 2017-2020, Sierra Leone was the key partner for imports in kind, accounting for 92.8% of total import flows.

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

The data reveals irregular changes, indicating a volatile market environment. Import values reached their trough in 2017 and peaked in 2019, with a 38-fold gap between them. In 2020, Benin's import volume of palm kernel or babassu oil and fractions was 1.7 thousand US dollars, down 94.6% from 2019. The maximum value was recorded in 2019 at 31.3 thousand US dollars, with the largest increase that year at 2 126.2%.

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

From 2017 to 2020, Sierra Leone remained the main market for imports in value terms, with a share of 88.8% of total flows, while the remaining volume was distributed across numerous other destinations.

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

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