What is the price of palm oil per kilogram/pound in Benin today?
The retail price range for Benin palm oil is between US$ 2.45 and US$ 3.42 per kilogram or between US$ 1.11 and US$ 1.55 per pound(lb). Click here to see today's exact prices of palm oil in Benin
The retail price range in CFA Franc BCEAO for palm oil is between XOF 1,491.62 and XOF 2,088.26 per kilogram or between XOF 676.47 and XOF 947.06 per pound(lb) in Porto-Novo and Cotonou.
Wholesale prices
In 2024, the approximate wholesale price range for Benin palm oil is between US$ 1.71 and US$ 2.40 per kilogram or between US$ 0.78 and US$ 1.09 per pound(lb).
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Benin Palm Oil Export Prices - Historical, Trends and Prediction
The export price of Palm Oil from Benin has seen a steady increase over the past five years. In 2018, the export price per kilogram was $0.45, which increased to $0.50 in 2019. In 2020, the price rose to $0.55, and in 2021 it further increased to $0.60. The most recent data shows that the export price per kilogram of Palm Oil from Benin in 2022 was $0.65. Looking ahead, it is likely that the export price of Palm Oil from Benin will continue to increase in the coming years. Based on the data, it is predicted that the export price per kilogram of Palm Oil from Benin in 2023 will be around $0.70, and in 2024 it is expected to be around $0.75.The exports of palm oil from Benin are categorised as:
- Crude palm kernel and babassu oil (HS code 151321)
- Crude palm oil (HS code 151110)
- Palm kernel and babassu oil and their fractions, whether or not refined, but not chemically modified (excluding crude) (HS code 151329)
- Palm oil and its fractions, whether or not refined (excluding chemically modified and crude) (HS code 151190)
Benin Palm Oil Import Prices - Historical, Trends and Prediction
The import price of Palm Oil into Benin has seen a steady increase over the past five years. In 2018, the import price per kilogram was $0.45, which increased to $0.50 in 2019. In 2020, the price rose to $0.60, and in 2021 it further increased to $0.70. The most recent data shows that the import price per kilogram of Palm Oil into Benin was $0.80 in 2022. This steady increase in the import price of Palm Oil into Benin over the past five years indicates that the trend is likely to continue in the coming years. Based on this trend, it is predicted that the import price per kilogram of Palm Oil into Benin will be $0.90 in 2023 and $1.00 in 2024.Export values for Benin palm oil
The total values in export for palm oil in Benin were US$ 11,785, US$ 14,781, US$ 13,308 and US$ 7,035 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Processed category in Benin: Milk & Cream, Yogurt, Kefir & Buttermilk, Whey, Butter, Cheese, Natural Honey, Coffee, Green Tea & Black Tea.
See prices of palm oil in other countries across Africa: Algeria palm oil, Angola palm oil, Botswana palm oil, Burundi palm oil, Cameroon palm oil, Cape Verde palm oil, Central African Republic palm oil, Comoros palm oil, DRC Congo palm oil & Benin palm oil.
Benin palm oil - Production, Exports, Imports, Seasons and HS Codes
In 2019 Benin exported 10,638 tonnes of palm oil. Across 2019 alone, the demand for Benin palm oil (processed category) has shrunk, flactuating by -30.421 per cent compared to the year 2018. Between 2017 and 2019, palm oil's exports decreased by -45.19 percent bringing Benin US$7.04m for the year 2019. Benin's palm oil exports are classified as:
- Crude palm oil (HS code 151110)
- Crude palm kernel and babassu oil (HS code 151321)
- Palm oil and its fractions, whether or not refined (excluding chemically modified and crude) (HS code 151190)
- Palm kernel and babassu oil and their fractions, whether or not refined, but not chemically modified (excluding crude) (HS code 151329)
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Benin palm oil export values
In 2019, Benin supplied palm oil worth 7.04m USD, a reduction of -47.10% from 2018's total palm oil export of 13.308m USD. The annual change in value of Benin palm oil between 2017 to 2018 was -9.965 pc.
The annual variation in the volume of Benin's palm oil exports between 2017 and 2019 was -45.19 percent in comparison to a variation of -30.421% in the period between 2018 and 2019.
Export markets for Benin palm oil ( in '000$ )
Benin's top export markets for palm oil are India, United Arab Emirates (UAE), Malaysia, Germany and Niger.
Benin purchased 160,901 tonnes of palm oil in 2019.
Production
The production of palm oil in Benin was 2,931,528 tonnes in 2019 and is estimated to change by an average of 4.54%. The country had approximately 160,456.00 hectares under palm oil cultivation.