Peanut (groundnut) Oil Prices in Nigeria
| Variety | Market level | Price (US$/kg) | Local (NGN) | MoM | YoY | Source |
|---|---|---|---|---|---|---|
| - | Global benchmark | 1.84 | 846 | ▼ 3.7% | ▲ 8.9% | World Bank Pink Sheet |
| - | Export (unit value) | 2.13 | 980 | ▲ 147.5% | n/a | UN Comtrade (unit value) |
As of June 2026, the peanut (groundnut) oil price in Nigeria available is US$ 2.13 per kg (980 NGN).
Nigeria exported 1,943 tonnes of peanut (groundnut) oil in 2023, valued at US$4,129,333, ranking #7 among 53 global exporters and accounting for 0.8% of world exports. The country is a net exporter of peanut oil. The latest export price is US$2.1256 per kg.
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Peanut (groundnut) Oil Price History & Trend
Global benchmark (world reference) price for peanut (groundnut) oil, US$ per kg.
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Production, Exports, Imports & HS Codes - peanut (groundnut) oil in Nigeria
Nigeria exported 1,943 tonnes of peanut (groundnut) oil in 2023, valued at US$4,129,333, ranking #7 among 53 global exporters and accounting for 0.8% of world exports. The country is a net exporter of peanut oil. The latest export price is US$2.1256 per kg.
Exports UN Comtrade · 2023
In 2023, Nigeria exported $4.1M (1.9 kt) of peanut (groundnut) oil. That ranks #7 worldwide (0.8% of global exports).
Export value by year (US$)
Export volume by year
Top peanut (groundnut) oil exporters worldwide UN Comtrade · 2023
- #1 India $339.1M · 63.3%
- #2 Brazil $88.7M · 16.6%
- #3 Nicaragua $29.1M · 5.4%
- #4 Netherlands $22.2M · 4.2%
- #5 Argentina $21.9M · 4.1%
Annual export data Nigeria · UN Comtrade
| Year | Export value (US$) | Volume | Avg price/kg |
|---|---|---|---|
| 2023 | $4.1M | 1.9 kt | $2.13 |
| 2021 | $2.6M | 3.1 kt | $0.86 |
| 2020 | $3M | 2.9 kt | $1.02 |
HS Code
peanut (groundnut) oil is traded under Harmonized System code 1508.10. Trade figures above are compiled for this HS heading.
Sources: trade & HS - UN Comtrade. Values are official reported figures.