Palm oil and fractions market in Senegal

Earlier Report Observations

The Senegalese market for palm oil and fractions experienced notable volume swings between 2018 and 2023, moving from 147.6 thousand tons to 159.6 thousand tons. After a stable 2018, market size rose to 157.1 thousand tons in 2019 and surged to 202.2 thousand tons in 2020, primarily due to a sharp increase in imports. The market then contracted to 163.3 thousand tons in 2021 and further to 153.7 thousand tons in 2022, before a modest recovery to 159.6 thousand tons in 2023.

The market's decline in 2021 and 2022 was closely tied to structural changes within the local industry. In 2021, the entry of new processing players like Phibela and WA factories expanded domestic crude palm oil transformation capacity, which reduced immediate reliance on imported refined oil. The following year, communication campaigns actively promoted the consumption of local peanut oil over imported palm oil, further dampening demand for palm oil and contributing to the market's contraction.

Throughout the period, Senegal maintained restrictive import regulations on refined palm oil, reinforcing the dominant position of local actor Sunéor and creating persistent trade tensions with exporters from Côte d'Ivoire. In 2024, these dynamics continued with the implementation of a 25% surcharge on imported palm oils and the opening of a new large-scale processing plant with a daily capacity of 600,000 liters of edible oil, signaling ongoing investment in local industry infrastructure.

Production palm oil and fractions in Senegal

In kind, 2017-2020, t

Top producers of palm oil and fractions, 2017-2020

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

In 2020, Senegal produced 14 000 tonnes of palm oil and fractions, with production remaining relatively stable compared to the previous year. The largest decline occurred in 2018 at 0.0%, while the largest increase was also recorded in 2018 at 0.0%.

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

Exports palm oil and fractions from Senegal

Exports in kind, K t

Market performance showed noticeable fluctuations during this period. In 2019, exports experienced their largest decline at 86.1%, while 2018 saw the largest increase at 88.4%. The maximum export volume was recorded in 2018 at 12.7 thousand tonnes, while the minimum occurred in 2020 at 0.3 thousand tonnes, representing an 82.7% reduction from 2019. This created a 42-fold variation between the peak in 2018 and the trough in 2020.

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

Between 2017 and 2020, Gambia and Guinea-Bissau dominated as export destinations for Senegal's palm oil and fractions, jointly accounting for 81.3% of total flows, while smaller markets shared the remaining volume.

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, M $ US

Market performance exhibited significant fluctuations during this period. In 2019, exports recorded their largest decline at 86.5%, while 2018 saw the largest increase at 193.5%. The maximum export value was reached in 2018 at 10.4 million US dollars, while 2020 saw exports drop to 0.4 million US dollars, representing a 68.9% decrease from the previous year. This resulted in a 24-fold variation between the 2018 peak and 2020 trough.

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

From 2017 to 2020, Gambia and Guinea-Bissau remained the primary markets for Senegal's palm oil and fractions exports in value terms, jointly accounting for 81.9% of total flows, with other partners comprising the remaining share.

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

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

Imports palm oil and fractions to Senegal

Imports in kind, K t

After a two-year decline, Senegal's palm oil and fractions imports increased in 2020, reaching 188.5 thousand tonnes, which represented a significant 30.1% gain from the previous year. The minimum import volume was recorded in 2019 at 144.9 thousand tonnes, with the largest decline occurring in 2018 at 25.3%. Between 2017 and 2020, imports decreased by 3.8% overall, equating to an annualized rate of 1.3%.

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

Between 2017 and 2020, Ghana (34.7% of imports in kind), Malaysia (28.1% of imports in kind), and Indonesia (8.9% of imports in kind) consistently served as the principal suppliers of palm oil and fractions to Senegal, jointly accounting for 71.8% of total imports in kind.

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, M $ US

Senegal's palm oil and fractions imports increased for the second consecutive year in 2020, reaching 172.0 million US dollars, up 48.2% from the previous year. The minimum import value was recorded in 2018 at 111.6 million US dollars, with the largest decline also occurring in 2018 at 12.4%. Over the 2017-2020 period, imports grew by 35%, with a compound annual growth rate of 10.5%.

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

From 2017 to 2020, Ghana (40.6% of imports in value terms), Malaysia (24.0% of imports in value terms), and Indonesia (8.4% of imports in value terms) consistently remained the main sources for Senegal's palm oil and fractions imports in value terms, together accounting for 73.0% of total flows.

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

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