Palm nuts and kernels market in Western Africa

Earlier Report Observations

The market for palm nuts and kernels in West Africa grew consistently from 16.6 million tonnes in 2018 to 19.9 million tonnes in 2023. This expansion was initially supported by the country's established processing infrastructure, including 16 large oil mills, and the implementation of the third Palmier Plan under the National Agricultural Investment Program aimed at enhancing oil palm sector productivity.

Further market growth was driven by a 2019 government strategy to triple palm oil production without deforestation, coupled with sustained investments like the Palm Oil Development Program funded with over 6 billion CFA francs. Strong domestic consumption, where nearly 90% of the population uses palm oil daily, and a robust export trend averaging 20% annual growth between 2016 and 2021, provided continuous demand that increased production volumes.

The market continued to benefit from policy measures, including a temporary freeze on palm oil export permits in 2022 to ensure domestic supply ahead of Ramadan, which supported local consumption. Ongoing government focus on food sovereignty and the 2024 establishment of official purchase prices for crude palm oil at 600,000 CFA francs per tonne further structured and stabilized the supply chain.

Production palm nuts and kernels in Western Africa

In kind, 2017-2020, K t

Top producers of palm nuts and kernels, 2017-2020

World map of production of palm nuts and kernels, 2017-2020

Palm nuts and kernels production in Western Africa has increased for the third consecutive year. In 2020, production reached 17 489 thousand tonnes, marking a slight uptick of 1.1% compared to the previous year. Between 2017 and 2020, production grew by 8.7%, which translates to an annualized growth rate of 2.8%.

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

Exports palm nuts and kernels from Western Africa

Exports in kind, t

The market showed an unstable trend throughout the period. Export volumes reached their lowest point in 2019 at 2 790 tonnes and peaked in 2018 at 14 619 tonnes, representing a 5.2-fold difference between these years. In 2020, cross-border shipments of palm nuts and kernels from Western Africa stood at 7 084 tonnes, reflecting a sharp increase of 153.9% compared to the previous year. The largest decline was recorded in 2019 at 80.9%.

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

From 2017 to 2020, Italy, China, and Portugal were the principal destinations for exports in kind, accounting for 36.6%, 12.5%, and 12.1% of total exports, respectively. Together, these three countries represented 61.1% of all export flows.

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

There were noticeable fluctuations in market performance during this period. Export values dropped to their minimum in 2017 and climbed to their maximum in 2020, showing a 36-fold shift. In 2020, Western Africa's export value of palm nuts and kernels reached 6 503 thousand US dollars, reflecting a steep advance of 833.0% year-over-year. The largest decline occurred in 2019 at 69.8%, while the largest increase was recorded in 2018 at 1 185.9%.

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

From 2017 to 2020, China, Japan, and Turkey remained the principal buyers of palm nuts and kernels from Western Africa in value terms, accounting for 37.8%, 8.7%, and 8.3% of total exports, respectively. Collectively, these three countries represented 54.8% of total export value.

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 nuts and kernels to Western Africa

Imports in kind, t

Western Africa's palm nuts and kernels import volume has increased for the third consecutive year. In 2020, imports came to 3 564 tonnes, constituting a sharp increase of 66.5% compared to the previous year. Over the period from 2017 to 2020, imports grew by 822 976.3%, with a compound annual growth rate of 1 919.0%.

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

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

Foreign palm nuts and kernels supplies to Western Africa have increased for the third consecutive year. In 2020, Western Africa imported a total of 10 423 thousand US dollars worth of palm nuts and kernels, which is 66.2% higher year-over-year. Between 2017 and 2020, imports increased by 517%, equating to an annualized growth rate of 83.4%.

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

From 2017 to 2020, Indonesia was the main source for imports in value terms of palm nuts and kernels to Western Africa, accounting for 1.9% 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