Palm kernel or babassu oil and fractions market in Western Africa

Earlier Report Observations

The market for palm kernel and babassu oils in Western Africa expanded significantly from 2018 to 2023, with the total market volume growing from 270 thousand tons to 329 thousand tons. This growth was supported by a steady increase in domestic production, which rose from 293 thousand tons to 348 thousand tons over the same period. The market's expansion was resilient, continuing even through 2020 when a minor dip occurred.

Trade dynamics shifted notably during these years. Import volumes, which peaked in 2019 at 7.4 thousand tons, trended downwards and became negligible by 2024. Conversely, export activity was variable, with a sharp increase to 40 thousand tons recorded in 2024. These changing trade flows contributed to the overall growth in domestic market availability.

The period concluded with a strong domestic production base and a notable reorientation in trade, with the region significantly increasing its export activity in the final year, while reliance on imports diminished.

Production palm kernel or babassu oil and fractions in Western Africa

In kind, 2017-2020, K t

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

Palm kernel or babassu oil and fractions production in Western Africa has increased for the third consecutive year. In 2020, production reached 311.0 K t, remaining virtually unchanged from the previous year. Between 2017 and 2020, production grew by 13.2%, which translates to an annualized rate of 4.2%.

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

In value, 2017-2020, M $ US

In 2020, the output of palm kernel or babassu oil and fractions in Western Africa was valued at 248.7 M $ US, showing little change compared to the year before. From 2017 to 2020, production value decreased by 20.7%, corresponding to an annualized rate of 7.4%. The lowest value was recorded in 2018 at 237.5 M $ US. The largest decline occurred in 2018, with a drop of 24.3%, while the largest increase was in 2019, at 5.1%.

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

Exports palm kernel or babassu oil and fractions from Western Africa

Exports in kind, t

Western Africa's palm kernel or babassu oil and fractions export volume has declined for the second consecutive year. In 2020, exports totaled 17 381 t, marking a modest decrease of 7.3% from 2019. Over the period from 2017 to 2020, exports fell by 31.2%, with a compound annual growth rate (CAGR) of 11.7%. The highest volume was recorded in 2018 at 27 748 t. The largest decline took place in 2019, with a drop of 32.5%, while the largest increase was in 2018, at 9.8%.

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

From 2017 to 2020, the Netherlands (28.4% of exports in kind), Italy (19.8% of exports in kind), and Spain (8.8% of exports in kind) were the top buyers of palm kernel or babassu oil and fractions from Western Africa. Together, they accounted for 57.0% of total exports in kind.

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

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

Exports in value, K $ US

Western Africa's palm kernel or babassu oil and fractions export value has declined for the third consecutive year. In 2020, exports stood at 13 899 K $ US, reflecting an 8.0% drop from the previous year. Over the period from 2017 to 2020, exports decreased by 51.8%, with a compound annual growth rate (CAGR) of 21.6%.

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

From 2017 to 2020, the Netherlands (35.7% of exports in value terms), Italy (17.5% of exports in value terms), and Spain (9.3% of exports in value terms) formed the main group of destinations for palm kernel or babassu oil and fractions exports from Western Africa. Their combined share reached 62.5% of total export flows.

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

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

Imports palm kernel or babassu oil and fractions to Western Africa

Imports in kind, t

In 2020, the volume of palm kernel or babassu oil and fractions imports into Western Africa stood at 3 114 t, representing a steep decrease of 58.1% year-over-year. Over the period from 2017 to 2020, imports fell by 46.8%, with a compound annual growth rate (CAGR) of 19.0%. The highest volume was recorded in 2019 at 7 431 t, which also saw the largest increase of 44.9%.

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

From 2017 to 2020, three main markets—Malaysia, Indonesia, and Algeria—together absorbed 64.4% of total imports in kind of palm kernel or babassu oil and fractions into Western Africa.

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

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

Imports in value, K $ US

In 2020, Western Africa's palm kernel or babassu oil and fractions import volume amounted to 2 665 K $ US, indicating a steep reduction of 55.4% year-over-year. Between 2017 and 2020, imports decreased by 61%, equating to an annualized rate of 26.9%. The largest increase was recorded in 2019, at 12.9%.

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

From 2017 to 2020, Malaysia (52.7% of imports in value terms), Indonesia (12.6% of imports in value terms), and Gabon (2.4% of imports in value terms) were the main markets for imports in value terms, together accounting for 67.8% of total flows.

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

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