Refined Cotton-Seed Oil Market Overview in Nigeria
In value terms, refined cotton-seed oil production fell rapidly to $ in 2019 estimated in export prices. Over the period under review, production, however, showed a noticeable descent. The most prominent rate of growth was recorded in 2013 when the production volume increased by % y-o-y. Over the period under review, production hit record highs at $ in 2017; however, from 2018 to 2019, production failed to regain the momentum.
The size of the refined cotton-seed oil market in Nigeria contracted rapidly to $ in 2019, waning by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of % y-o-y. As a result, consumption reached the peak level of $. From 2018 to 2019, the growth of the market failed to regain the momentum.