What is the price of palm oil per kilogram/pound in Guinea today?
The retail price range for Guinea palm oil is between US$ 0.98 and US$ 1.96 per kilogram or between US$ 0.44 and US$ 0.89 per pound(lb). Click here to see today's exact prices of palm oil in Guinea
The retail price range in Guinean Franc for palm oil is between XOF 611.50 and XOF 1,223.00 per kilogram or between XOF 277.32 and XOF 554.65 per pound(lb) in Conakry and Guéckédou (Guékédou).
Wholesale prices
In 2024, the approximate wholesale price range for Guinea palm oil is between US$ 0.68 and US$ 1.37 per kilogram or between US$ 0.31 and US$ 0.62 per pound(lb).
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Guinea Palm Oil Export Prices - Historical, Trends and Prediction
The export price per kilogram of Palm Oil from Guinea over the last five years has been relatively stable. In 2010, the price was 0.01 US$ per kg, and in 2011 and 2012, the price was 0.00 US$ per kg. In 2013, the price increased slightly to 0.01 US$ per kg, and then in 2014 and 2015, the price increased to 0.02 US$ per kg. Since then, the price has remained steady at 0.01 US$ per kg in 2016, 2017, 2018, 2019, 2020, and 2021. Based on this data, it is likely that the export price per kilogram of Palm Oil from Guinea will remain at 0.01 US$ per kg in 2023 and 2024.The palm oil exports from Guinea are categorised as:
- Crude palm oil (HS code 151110)
- 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)
- Crude palm kernel and babassu oil (HS code 151321)
Guinea Palm Oil Import Prices - Historical, Trends and Prediction
The import price per kilogram of Palm Oil into Guinea over the last five years has been relatively stable. In 2013, the price was 0.01 US$ per kg, followed by 0.02 US$ per kg in 2014 and 2015. In 2016, the price dropped to 0.01 US$ per kg and has remained at 0.00 US$ per kg since then. This indicates that the import price of Palm Oil into Guinea has been relatively consistent over the last five years. Based on this trend, it is likely that the import price of Palm Oil into Guinea will remain at 0.00 US$ per kg in 2023 and 2024.Export values for Guinea palm oil
The total values in export for palm oil in Guinea were US$ 782, US$ 1,386, US$ 1,605 and US$ 1,107 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Processed category in Guinea: 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.
Guinea palm oil - Production, Exports, Imports, Seasons and HS Codes
In 2019 Guinea exported 1,602 tonnes of palm oil. For the year 2019 alone, the demand for Guinea palm oil (processed category) has shrunk, changing by -54.215 per cent compared to the year 2018. Between 2017 and 2019, palm oil's exports grew by 466.08 percent netting Guinea US$1.11m for the year 2019. Guinea's palm oil exports are classified as:
- Palm oil and its fractions, whether or not refined (excluding chemically modified and crude) (HS code 151190)
- Palm kernel and babassu oil and their fractions, whether or not refined, but not chemically modified (excluding crude) (HS code 151329)
- Crude palm oil (HS code 151110)
- Crude palm kernel and babassu oil (HS code 151321)
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Guinea palm oil export values
In 2019, Guinea exported palm oil costing 1.11m USD, a drop of -30.84% from 2018's total palm oil export of 1.605m USD. The annual reduction in value of Guinea palm oil between 2017 to 2018 was 15.801 pc.
The annual change in the amount of Guinea's palm oil exports between 2017 and 2019 was 466.08 pc when compared to a variation of -54.215% in the growth rate between 2018 and 2019.
Export markets for Guinea palm oil ( in '000$ )
Guinea's best performing export markets for palm oil are the Netherlands, United Kingdom (UK), India, Switzerland and Belgium.
Guinea brought in 97,099 tonnes of palm oil in 2019.
Production
The production of palm oil in Guinea was 3,390,132 tonnes in 2019 and is predicted to change by an average of 0.16%. The country had approximately 1,271,440.00 hectares under palm oil cultivation.