The Director General of the World Trade Organization (WTO), Dr. Ngozi Okonjo Iweala, has highlighted the untapped potential of the Shea butter sector, despite African women having earned $227 million from Shea butter processing.
She noted that 16 million women derive their livelihood from farming and processing Shea.
The WTO DG disclosed this at the Global Shea Alliance Conference in Abuja with the theme, ‘SHEA 2024 Bridging the gap’, where she mentioned that over 35,000 women received training in Shea processing, quality practices, and other value-added Shea products.
According to her, “85% of all Shea exports are used as cocoa butter equivalent and 15% are used for cosmetics. The cosmetics Shea Butter market is currently worth $ 600 million and is expected to reach $ 850 million by the end of 2027. African women can definitely benefit from these sectors.
“At the WTO Shea is one of the main agricultural exports with eight African countries as members, the countries are, Benin, Burkina Faso, Cote’voire, Mali, Nigeria, Ghana, and Togo. In Ghana alone, Shea butter is valued at $ 92 million in 2022.
So far, over one million women are involved in this even though most of the potential in these sectors is still untapped.”
The Executive Director, CEO of Nigeria Export Promotion Council (NEPC), Nonye Ayeni noted that the global value of shea production and export in the year 2023, value chain was $2.17 billion while it is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.1% by 2030, representing the sum of $5.8 billion.
Ayeni added that in 2016 the Council partnered with the World Trade Organization and Standards and Trade Development Facility to execute Project 172 which was a game changer in the Nigeria Shea sector.
The Project succeeded in establishing an effective free fatty acid (FFA) and impurities control system for Shea butter and establishing 4 Shea butter model Processing Centers in Niger, Kebbi, Oyo, and Kwara states.