Market research

Palm kernel or babassu oil and fractions market in Nigeria

$Palm kernel or babassu oil and fractions market in Nigeria$

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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Earlier Report Observations

The market for palm kernel or babassu oil in Nigeria expanded consistently between 2018 and 2023, with volume growing from 128.7 thousand tons to 167.9 thousand tons. This represented an overall increase of over 30%, driven by rising domestic production which climbed from 134.3 thousand tons to 167.9 thousand tons over the same period.

By 2023, specific developments began shaping the market more visibly. The Edo State Oil Palm Program allocated approximately 120 000 hectares of land to domestic and foreign investors, including major companies like Dufil, AgriPalm, Saro Oil Palm, and Bragav, which significantly contributed to production capacity. Simultaneously, Nigerian vegetable oil refiners increasingly favored palm kernel oil as a raw material because its refining cost is about half that of palm oil, bolstering demand from the processing sector.

These trends continued into 2024, supported by government endorsement of palm kernel meal as an alternative raw material for animal feeds, which encouraged further utilization of palm kernel by-products. The ongoing land allocation under the Edo State program maintained momentum for production expansion.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Nigeria
  1. 5.1.1. Annual dynamics of production in Nigeria in kind, 2018-2023, K t
  2. 5.1.2. Annual dynamics of production in Nigeria in value, 2018-2023, $ US
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, K t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, K t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Exports
1. 6.1. Exports (Direct Data)
  1. 6.1.1. Exports - Total information
  2. 6.1.2. Exports in kind, t
    1. 6.1.2.1. Annual dynamics of product's exports from Nigeria in kind, 2018-2024, t
    2. 6.1.2.2. Dynamics of product's exports in kind from Nigeria by countries, 2018-2024, t
    3. 6.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.1.3. Exports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's exports from Nigeria in value, 2018-2024, K $ US
    2. 6.1.3.2. Dynamics of product's exports in value from Nigeria by countries, 2018-2024, K $ US
    3. 6.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's exports, $ US/kg
    1. 6.1.4.1. Annual dynamics of average price of product's exports from Nigeria, 2018-2024, $ US/kg
    2. 6.1.4.2. Dynamics of average price of product's exports from Nigeria by countries, 2018-2024, $ US/kg
2. 6.2. Exports (Mirror Data)
  1. 6.2.1. Exports - Total information
  2. 6.2.2. Exports in kind, t
    1. 6.2.2.1. Annual dynamics of product's exports from Nigeria in kind, 2018-2024, t
    2. 6.2.2.2. Dynamics of product's exports in kind from Nigeria by countries, 2018-2024, t
    3. 6.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.2.3. Exports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's exports from Nigeria in value, 2018-2024, K $ US
    2. 6.2.3.2. Dynamics of product's exports in value from Nigeria by countries, 2018-2024, K $ US
    3. 6.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's exports, $ US/kg
    1. 6.2.4.1. Annual dynamics of average price of product's exports from Nigeria, 2018-2024, $ US/kg
    2. 6.2.4.2. Dynamics of average price of product's exports from Nigeria by countries, 2018-2024, $ US/kg
7. Imports
1. 7.1. Imports (Direct Data)
  1. 7.1.1. Imports - Total information
  2. 7.1.2. Imports in kind, t
    1. 7.1.2.1. Annual dynamics of product's imports to Nigeria in kind, 2018-2024, t
    2. 7.1.2.2. Dynamics of product's imports in kind to Nigeria by countries, 2018-2024, t
    3. 7.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.1.3. Imports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's imports to Nigeria in value, 2018-2024, K $ US
    2. 7.1.3.2. Dynamics of product's imports in value to Nigeria by countries, 2018-2024, K $ US
    3. 7.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's imports, $ US/kg
    1. 7.1.4.1. Annual dynamics of average price of product's imports to Nigeria, 2018-2024, $ US/kg
    2. 7.1.4.2. Dynamics of average price of product's imports to Nigeria by countries, 2018-2024, $ US/kg
2. 7.2. Imports (Mirror Data)
  1. 7.2.1. Imports - Total information
  2. 7.2.2. Imports in kind, t
    1. 7.2.2.1. Annual dynamics of product's imports to Nigeria in kind, 2018-2024, t
    2. 7.2.2.2. Dynamics of product's imports in kind to Nigeria by countries, 2018-2024, t
    3. 7.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.2.3. Imports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's imports to Nigeria in value, 2018-2024, K $ US
    2. 7.2.3.2. Dynamics of product's imports in value to Nigeria by countries, 2018-2024, K $ US
    3. 7.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's imports, $ US/kg
    1. 7.2.4.1. Annual dynamics of average price of product's imports to Nigeria, 2018-2024, $ US/kg
    2. 7.2.4.2. Dynamics of average price of product's imports to Nigeria by countries, 2018-2024, $ US/kg
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, t
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, t
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production palm kernel or babassu oil and fractions in Nigeria

In kind, 2017-2020, K t

Globally, Nigeria ranked as the 4th largest producer of palm kernel or babassu oil and fractions from 2017 to 2020.

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

Source: SHEV.io

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

Source: SHEV.io

Nigeria's production of palm kernel or babassu oil and fractions grew for the third consecutive year. In 2020, the country produced 146.3 K t, marking a 4.6% increase compared to 2019. Over the 2017-2020 period, production rose by 17.8%, with a compound annual growth rate of 5.6%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	8.1%	4.1%	4.6%	5.6%

Source: SHEV.io

Exports palm kernel or babassu oil and fractions from Nigeria

Exports in kind, t

In 2018, Nigeria's exports of palm kernel or babassu oil and fractions to foreign markets totaled 5 647 t, remaining nearly unchanged from the previous year.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	0.2%	n/a	n/a	-

Source: SHEV.io

From 2017 to 2020, the Netherlands, Germany, and the United Kingdom were the primary buyers of Nigeria's palm kernel or babassu oil and fractions, accounting for 47.4%, 25.9%, and 23.3% of exports in kind, respectively. Together, these three countries comprised 96.6% of total exports in kind.

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, K $ US

In 2018, Nigeria's exports of palm kernel or babassu oil and fractions were valued at 4 622 K $ US, representing a 35.0% decline compared to the prior year.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(35.0%)	n/a	n/a	-

Source: SHEV.io

During 2017-2020, the Netherlands, the United Kingdom, and Germany remained the leading buyers of Nigeria's palm kernel or babassu oil and fractions in value terms, with shares of 57.6%, 20.5%, and 17.9%, respectively. Collectively, they accounted for 96.0% of total exports in value.

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

Source: SHEV.io

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

Source: SHEV.io