ECOWAS: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2024

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in ECOWAS

The ECOWAS seafood meals and pellets market stood at $X in 2022, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in ECOWAS

In value terms, seafood meals and pellets production rose to $X in 2022 estimated in export price. The total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2013 when the production volume increased by X%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports in ECOWAS

In 2022, approx. X tons of flours, meals and pellets of fish or of crustaceans and molluscs were exported in ECOWAS; increasing by X% against 2021 figures. Total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, seafood meals and pellets exports soared to $X in 2022. Overall, exports recorded buoyant growth. The growth pace was the most rapid in 2013 with an increase of X%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

Senegal was the main exporter of flours, meals and pellets of fish or of crustaceans and molluscs in ECOWAS, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by Guinea (X tons), Cote d'Ivoire (X tons), Cabo Verde (X tons) and Ghana (X tons), together mixing up a X% share of total exports.

Exports from Senegal increased at an average annual rate of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. Ghana and Cabo Verde experienced a relatively flat trend pattern. Guinea (X p.p.), Cote d'Ivoire (X p.p.) and Cabo Verde (X p.p.) significantly strengthened its position in terms of the total exports, while Ghana and Senegal saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Senegal ($X) emerged as the largest seafood meals and pellets supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Guinea ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with a X% share.

In Senegal, seafood meals and pellets exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Guinea (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, dropping by X% against the previous year. In general, the export price, however, showed a strong expansion. The growth pace was the most rapid in 2013 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2021, and then declined modestly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports in ECOWAS

In 2022, purchases abroad of flours, meals and pellets of fish or of crustaceans and molluscs decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, imports saw a abrupt curtailment. The pace of growth was the most pronounced in 2020 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, seafood meals and pellets imports contracted dramatically to $X in 2022. Over the period under review, imports showed a abrupt decline. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X tons) represented the major importer of flours, meals and pellets of fish or of crustaceans and molluscs, achieving X% of total imports. Cote d'Ivoire (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Burkina Faso (X%) and Benin (X%). The following importers - Togo (X tons) and Senegal (X tons) - each recorded a X% share of total imports.

Imports into Nigeria decreased at an average annual rate of X% from 2012 to 2022. At the same time, Senegal (X%), Benin (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Togo (X%) and Cote d'Ivoire (X%) illustrated a downward trend over the same period. While the share of Burkina Faso (X p.p.), Benin (X p.p.), Cote d'Ivoire (X p.p.) and Senegal (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported flours, meals and pellets of fish or of crustaceans and molluscs in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Benin, with a X% share.

In Nigeria, seafood meals and pellets imports decreased by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Benin (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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