Western Africa - Refined Groundnut Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingWestern Africa: Refined Groundnut Oil Market 2024
Refined Groundnut Oil Market Size in Western Africa
The West African refined groundnut oil market declined modestly to $X in 2022, waning by X% against the previous year. Overall, consumption, however, showed prominent growth. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.
Refined Groundnut Oil Production in Western Africa
In value terms, refined groundnut oil production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.
Refined Groundnut Oil Exports
Exports in Western Africa
In 2022, the amount of refined groundnut oil exported in Western Africa soared to X tons, rising by X% on 2021 figures. In general, exports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.
In value terms, refined groundnut oil exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.
Exports by Country
Senegal was the major exporter of refined groundnut oil in Western Africa, with the volume of exports reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by Burkina Faso (X tons) and Mauritania (X tons), together constituting a X% share of total exports. The following exporters - Togo (X tons), Ghana (X tons) and Nigeria (X tons) - together made up X% of total exports.
From 2012 to 2022, average annual rates of growth with regard to refined groundnut oil exports from Senegal stood at X%. At the same time, Burkina Faso (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Mauritania (X%), Togo (X%) and Nigeria (X%) illustrated a downward trend over the same period. Senegal (X p.p.), Burkina Faso (X p.p.) and Mauritania (X p.p.) significantly strengthened its position in terms of the total exports, while Nigeria and Togo saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Senegal ($X) remains the largest refined groundnut oil supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Burkina Faso ($X), with a X% share of total exports. It was followed by Mauritania, with a X% share.
In Senegal, refined groundnut oil exports plunged by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Burkina Faso (X% per year) and Mauritania (X% per year).
Export Prices by Country
In 2022, the export price in Western Africa amounted to $X per ton, surging by X% against the previous year. Export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Togo ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritania (X%), while the other leaders experienced mixed trends in the export price figures.
Refined Groundnut Oil Imports
Imports in Western Africa
In 2022, after two years of growth, there was significant decline in overseas purchases of refined groundnut oil, when their volume decreased by X% to X tons. In general, imports saw a sharp descent. The growth pace was the most rapid in 2017 when imports increased by X%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.
In value terms, refined groundnut oil imports reduced rapidly to $X in 2022. Over the period under review, imports faced a significant decline. The growth pace was the most rapid in 2017 with an increase of X%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.
Imports by Country
In 2022, Mauritania (X tons) represented the major importer of refined groundnut oil, making up X% of total imports. Togo (X tons) held the second position in the ranking, distantly followed by Gambia (X tons) and Mali (X tons). All these countries together held approx. X% share of total imports. Burkina Faso (X tons) and Ghana (X tons) held a little share of total imports.
From 2012 to 2022, average annual rates of growth with regard to refined groundnut oil imports into Mauritania stood at X%. At the same time, Ghana (X%), Gambia (X%) and Mali (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Burkina Faso (X%) and Togo (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mauritania, Gambia, Mali and Ghana increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the largest refined groundnut oil importing markets in Western Africa were Mauritania ($X), Gambia ($X) and Mali ($X), with a combined X% share of total imports.
Among the main importing countries, Gambia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
The import price in Western Africa stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price posted a tangible increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per ton), while Togo ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (X%), while the other leaders experienced more modest paces of growth.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the refined groundnut oil market in Western Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10415200 - Refined groundnut oil and its fractions (excluding chemically modified)
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in Western Africa, split by region and country
- Trade (exports and imports) in Western Africa
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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