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Crude Shea Butter Prices, Demand and Supply Overview
India paid the most for crude shea butter in Q3 2026: USD 2,060/MT, up 1.5% from USD 2,030/MT in Q2. Import costs, refining needs and steady demand from chocolate and cosmetic makers keep Indian prices above the other three markets. Worldwide, the average rose 1.4% to USD 1,762/MT from USD 1,738/MT, mostly because higher nut collection and transport costs and firm demand from cosmetic and food makers led processors and importers to raise prices in all four markets. What about Q4 2026? We expect a global average somewhere in the USD 1,720-1,860/MT range, with shea nut harvest, collection and transport costs, demand from cosmetic makers and prices of cocoa butter doing most of the work.
Crude shea butter is the fat pressed from the nuts of the shea tree, which grows wild across the savanna belt of West Africa. It is sold unrefined, off-white to yellow, and later refined for use in cosmetics, chocolate and bakery fats. Prices in this report refer to crude shea butter in bulk and are quoted per metric ton. They depend on the nut harvest, collection and transport costs and demand from cosmetic and food makers.
Ghana, Burkina Faso, Mali, Nigeria and Cote d'Ivoire supply most of the nuts and butter, and women collectors gather the nuts from wild trees during the rainy season. Cooperatives and processors crush the nuts and sell the butter to exporters, while larger volumes of nuts are shipped to Asia and Europe for pressing. Quality varies with free fatty acid levels and moisture.
Crude Shea Butter Price Forecast for 2026
Prices should rise modestly through the rest of 2026. Nut collection costs are higher, demand from cosmetic makers is steady and prices of cocoa butter stay firm. A better harvest in Ghana limits the size of the increase. Against USD 1,685/MT in Q3 2025, the current global average of USD 1,762/MT represents an increase of 4.6%.
The risks for Q4 are balanced, with no clear tilt either way. What could push prices higher? A poor nut harvest, higher transport costs or higher cocoa butter prices would lift prices. What could pull them lower? A large nut harvest, lower cocoa butter prices or weaker demand from cosmetic makers would lower prices.
| Region | 2026 Price Range (USD/MT) | Outlook |
| Global Average | 1,720 - 1,860 | Firm collection costs support a modest rise |
| Ghana | 1,480 - 1,605 | Large nut collection keeps prices lowest |
| Burkina Faso | 1,640 - 1,770 | Local processing supports prices |
| Mali | 1,745 - 1,890 | Transport and security costs support prices |
| India | 2,010 - 2,175 | Import costs and refining needs keep prices highest |
For the Quarter Ending September 2026
Crude Shea Butter Prices Q3 2026:
- Ghana: USD 1,520/MT
- Burkina Faso: USD 1,680/MT
- Mali: USD 1,790/MT
- India: USD 2,060/MT
Crude Shea Butter Prices in Ghana
Ghana firmed 1.6% to USD 1,520/MT in Q3 2026, from USD 1,496/MT in Q2. Ghanaian prices rose as the demand from cosmetic makers improved. Taking Q3 2025 as the base, at USD 1,444/MT, the latest quarter is 5.3% higher. This places Ghana 13.7% below the four-market average of USD 1,762/MT for Q3 2026.
Why did the price of Crude Shea Butter change in Q3 2026 in Ghana?
Ghana rose. Demand from cosmetic makers improved, nut collection costs increased, and processors raised prices. At USD 1,520/MT, Ghana is 3.8% higher than in Q4 2025, when the average was USD 1,465/MT, and the global average is 3.2% higher over the same period. On the global measure the average was 1.4% higher over the quarter.
Crude Shea Butter Prices in Burkina Faso
In Q3 2026, the average price in Burkina Faso rose 1.3% to USD 1,680/MT, compared with USD 1,658/MT in Q2. Burkinabe prices rose as the demand from exporters improved. Against the USD 1,610/MT recorded in Q3 2025, the current average represents a 4.3% increase. Against the four-market average of USD 1,762/MT, Burkina Faso stood 4.7% below in the quarter.
Why did the price of Crude Shea Butter change in Q3 2026 in Burkina Faso?
Burkina Faso rose. Demand from exporters improved, transport costs increased, and processors raised offers. This leaves Burkina Faso 3.1% higher than at the end of 2025, when the average was USD 1,629/MT, while the global average is 3.2% higher over the same period. For comparison, the global average moved 1.4% higher over the same quarter.
Crude Shea Butter Prices in Mali
Mali's average moved up 1.2% in Q3 2026, to USD 1,790/MT from USD 1,769/MT in Q2. Malian prices rose as the demand from export buyers improved. The Q3 2025 average of USD 1,724/MT puts the current price 3.8% above its level a year earlier. Mali finished Q3 2026 1.6% above the four-market average of USD 1,762/MT.
Why did the price of Crude Shea Butter change in Q3 2026 in Mali?
Mali rose. Demand from export buyers improved, transport costs increased, and cooperatives raised prices. From USD 1,741/MT at the close of 2025 to USD 1,790/MT in Q3 2026, the price in Mali has risen 2.8%, and the global average has risen 3.2%. The global average shifted 1.4% higher in the same quarter.
Crude Shea Butter Prices in India
Prices in India firmed 1.5% in Q3 2026 to USD 2,060/MT, compared with USD 2,030/MT in Q2. Indian prices rose as the demand from chocolate and cosmetic makers improved. Year on year, the average is 4.9% higher, against USD 1,963/MT in Q3 2025. The four markets averaged USD 1,762/MT in the quarter, so the price in India was 16.9% higher.
Why did the price of Crude Shea Butter change in Q3 2026 in India?
India rose. Demand from chocolate and cosmetic makers improved, import costs increased, and importers raised prices. Across the first three quarters of 2026, India has moved up 3.4% from USD 1,992/MT in Q4 2025 to USD 2,060/MT, against a 3.2% gain for the global average. Across the four markets the average was 1.4% higher on the quarter.
For the Quarter Ending June 2026
Crude Shea Butter Prices Q2 2026:
- Ghana: USD 1,496/MT
- Burkina Faso: USD 1,658/MT
- Mali: USD 1,769/MT
- India: USD 2,030/MT
Crude Shea Butter Prices in Ghana
Prices in Ghana firmed 1.2% in Q2 2026 to USD 1,496/MT, compared with USD 1,478/MT in Q1. Ghanaian prices rose as the demand from cosmetic makers strengthened. The year-on-year change is a 6.0% increase, from USD 1,411/MT in Q2 2025. The price in Ghana was 13.9% below the group average of USD 1,738/MT in Q2 2026.
Why did the price of Crude Shea Butter change in Q2 2026 in Ghana?
Ghana rose. Demand from cosmetic makers strengthened, nut collection costs went up, and processors lifted prices. Coming after a 0.9% gain in Q1, the Q2 figure sits 6.0% above the USD 1,411/MT of Q2 2025. The same direction continued in Q3, with the price reaching USD 1,520/MT. Across the four markets the average was 1.0% higher on the quarter.
Crude Shea Butter Prices in Burkina Faso
Burkina Faso recorded a 1.0% gain in Q2 2026, with the average reaching USD 1,658/MT against USD 1,642/MT in Q1. Burkinabe prices rose as the demand from exporters strengthened. The Q2 2026 average is 5.0% above the USD 1,579/MT recorded in Q2 2025. The gap to the four-market average of USD 1,738/MT was 4.6% below for Burkina Faso.
Why did the price of Crude Shea Butter change in Q2 2026 in Burkina Faso?
Burkina Faso rose. Demand from exporters strengthened, transport costs went up, and processors lifted offers. The 0.8% gain in Q1 set the base, and Q2 finished 5.0% above the USD 1,579/MT recorded a year earlier. Q3 added to the change, with the price at USD 1,680/MT. On the global measure the average was 1.0% higher over the quarter.
Crude Shea Butter Prices in Mali
The Q2 2026 average for Mali stood at USD 1,769/MT, an increase of 0.9% on the USD 1,753/MT recorded in Q1. Malian prices rose as the demand from export buyers strengthened. Compared with Q2 2025, when Mali averaged USD 1,697/MT, the current price is 4.2% higher. Relative to the four-market average of USD 1,738/MT, Mali traded 1.8% above in Q2 2026.
Why did the price of Crude Shea Butter change in Q2 2026 in Mali?
Mali rose. Demand from export buyers strengthened, security costs went up, and cooperatives lifted prices. This followed a 0.7% gain in Q1 and left Mali 4.2% above its Q2 2025 average of USD 1,697/MT. The move then extended in Q3, taking the price to USD 1,790/MT. For comparison, the global average moved 1.0% higher over the same quarter.
Crude Shea Butter Prices in India
India registered a 1.1% increase in Q2 2026, taking the average to USD 2,030/MT from USD 2,007/MT in Q1. Indian prices rose as the demand from cosmetic makers strengthened. Measured against Q2 2025, when the average stood at USD 1,918/MT, the market is 5.8% higher. This places India 16.8% above the four-market average of USD 1,738/MT for Q2 2026.
Why did the price of Crude Shea Butter change in Q2 2026 in India?
India rose. Demand from cosmetic makers strengthened, import costs went up, and importers lifted prices. After a 0.8% gain in Q1, the quarter closed 5.8% above the USD 1,918/MT recorded in Q2 2025. The same direction continued in Q3, with the price reaching USD 2,060/MT. The global average shifted 1.0% higher in the same quarter.
Quarterly Crude Shea Butter Price Trends
Crude Shea Butter prices rose through 2025 and the first half of 2026 and rose again in the third quarter in all four markets. The global average moved from USD 1,622/MT in Q1 2025 to 1,651 in Q2, 1,685 in Q3 and 1,707 in Q4, then 1,720 in Q1 2026, 1,738 in Q2 and 1,762 in Q3, a net gain of roughly 8.6% across the window. Higher nut collection costs and steady demand from cosmetic and food makers lifted prices for six quarters.
| Quarter | Price (USD/MT) | QoQ Change | Direction |
| Q3 2026 | 1,762 | +1.4% | ↑ Rising |
| Q2 2026 | 1,738 | +1.0% | ↑ Rising |
| Q1 2026 | 1,720 | +0.8% | ↑ Rising |
| Q4 2025 | 1,707 | +1.3% | ↑ Rising |
| Q3 2025 | 1,685 | - | - Stable |
| Q4 2026 | In Progress | - | - In Progress |
What was Crude Shea Butter Price in 2025?
2025 was a year of steady increases for crude shea butter, with prices rising in each quarter in all four markets. Starting near USD 1,622/MT in Q1, the global average finished the year at 1,707 in Q4, a gain of about 5.2%. Higher nut collection costs and steady demand from cosmetic and food makers supported processors throughout the year.
Crude Shea Butter Prices in Ghana in 2025
In Ghana, prices moved from about USD 1,382/MT in Q1 2025 to USD 1,465/MT by Q4, up roughly 6.0%. Ghanaian prices rose steadily as nut collection costs and demand from cosmetic makers increased. The latest quarter places Ghana at USD 1,520/MT, which is 3.8% above the level at which 2025 ended. The quarterly sections above show how the annual average developed over the year.
Crude Shea Butter Prices in Burkina Faso in 2025
In Burkina Faso, prices moved from about USD 1,551/MT in Q1 2025 to USD 1,629/MT by Q4, up roughly 5.0%. Burkinabe prices rose gradually as transport costs and demand from exporters increased. Since the 2025 close of USD 1,629/MT, the price in Burkina Faso has moved up 3.1%, reaching USD 1,680/MT in Q3 2026.
Crude Shea Butter Prices in Mali in 2025
In Mali, prices moved from about USD 1,674/MT in Q1 2025 to USD 1,741/MT by Q4, up roughly 4.0%. Malian prices rose gradually as security costs and demand from export buyers increased. At USD 1,790/MT in Q3 2026, Mali stands 2.8% above its Q4 2025 close. The same regional pattern is carried into the quarterly analysis above, where the quarter-by-quarter figures can be traced.
Crude Shea Butter Prices in India in 2025
In India, prices moved from about USD 1,879/MT in Q1 2025 to USD 1,992/MT by Q4, up roughly 6.0%. Indian prices rose steadily as import costs and demand from cosmetic makers increased. The Q4 2025 close of USD 1,992/MT compares with USD 2,060/MT in Q3 2026, a 3.4% increase. The quarterly sections above show how the annual average developed over the year.
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Frequently Asked Questions About This Report
Cosmetics, skin care, chocolate, bakery fats and confectionery.
In Q3 2026, it averaged USD 1,520/MT in Ghana, USD 1,680/MT in Burkina Faso, USD 1,790/MT in Mali, and USD 2,060/MT in India. India was the priciest market.
The global average went from USD 1,707/MT in Q4 2025 to 1,720 in Q1, 1,738 in Q2 and 1,762 in Q3, up 3.2% overall. Steady increases through 2025 and early 2026 continued in the third quarter.
Higher nut collection and transport costs and firm demand led processors to raise prices.
We expect a global average somewhere in the USD 1,720-1,860/MT range. Firm collection costs and steady demand from cosmetic makers point to a modest rise.
India sits at the top and Ghana at the bottom. India pays the most on import costs and refining needs, while Ghana sits lowest on large nut collection.
Monthly. Need something more current? The Expert Market Research team is available directly.
Nut harvest, transport costs, free fatty acid levels and cocoa butter prices drive the volatility.
Ghana, Burkina Faso, Mali, Nigeria and Cote d'Ivoire lead supply of crude shea butter.
Agree contracts with processors, check free fatty acid levels and diversify between origins.
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