Coconut Oil Prices in Nigeria
| Variety | Market level | Price (US$/kg) | Local (NGN) | MoM | YoY | Source |
|---|---|---|---|---|---|---|
| - | Global benchmark | 2.24 | 1,034 | ▼ 3.8% | ▼ 18.9% | World Bank Pink Sheet |
| - | Export (unit value) estimated | 0.15 | 68.80 | ▼ 81.0% | ▼ 81.0% | UN Comtrade (unit value) |
As of June 2026, the coconut oil price in Nigeria available is US$ 2.24 per kg (1,034 NGN), down 18.9% year-on-year.
Nigeria exported 1,401 tonnes of coconut oil in 2023, valued at US$209,217, ranking 36th among 80 exporters and accounting for 0.0% of global exports. The country is a net exporter, with production at 7,000 tonnes, ranking 20th globally and representing 0.2% of world output. The latest benchmark price is US$2.244 per kg.
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Coconut Oil Price History & Trend
Global benchmark (world reference) price for coconut oil, US$ per kg.
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Use this data freely with attribution to Selina Wamucii.
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Production, Exports, Imports & HS Codes - coconut oil in Nigeria
Nigeria exported 1,401 tonnes of coconut oil in 2023, valued at US$209,217, ranking 36th among 80 exporters and accounting for 0.0% of global exports. The country is a net exporter, with production at 7,000 tonnes, ranking 20th globally and representing 0.2% of world output. The latest benchmark price is US$2.244 per kg.
Exports UN Comtrade · 2023
In 2023, Nigeria exported $209.2K (1.4 kt) of coconut oil▼ 96.9% YoY. That ranks #36 worldwide (0% of global exports).
Export value by year (US$)
Export volume by year
Top coconut oil exporters worldwide UN Comtrade · 2023
- #1 Philippines $1.24B · 66.4%
- #2 Indonesia $412.5M · 22.1%
- #3 Sri Lanka $65M · 3.5%
- #4 Netherlands $53.6M · 2.9%
- #5 Malaysia $15.2M · 0.8%
Annual export data Nigeria · UN Comtrade
| Year | Export value (US$) | Volume | Avg price/kg |
|---|---|---|---|
| 2023 | $209.2K | 1.4 kt | $0.15 |
| 2022 | $6.8M | 8.6 kt | $0.79 |
| 2021 | $251.4K | 4.4 kt | $0.06 |
| 2020 | $127.5K | 1.4 kt | $0.09 |
Production FAOSTAT · 2023
Nigeria produced 7 kt of coconut oil in 2023▲ 0% YoY. It ranks #20 among producing countries (0.2% of world output).
Production by year (tonnes)
HS Code
coconut oil is traded under Harmonized System code 1513.11. Trade figures above are compiled for this HS heading.
Sources: trade & HS - UN Comtrade; production - FAOSTAT (FAO). Values are official reported figures.