ECOWAS: Fresh Chicken Cut Market 2024

Fresh Chicken Cut Market Size in ECOWAS

In 2021, the ECOWAS fresh chicken cut market decreased by -3.1% to $X for the first time since 2014, thus ending a six-year rising trend. Over the period under review, consumption showed prominent growth. The level of consumption peaked at $X in 2020, and then shrank slightly in the following year.

Fresh Chicken Cut Production in ECOWAS

In value terms, fresh chicken cut production reduced slightly to $X in 2021 estimated in export price. In general, production saw a strong expansion. The pace of growth was the most pronounced in 2016 with an increase of 51%. Over the period under review, production reached the peak level at $X in 2020, and then shrank modestly in the following year.

The country with the largest volume of fresh chicken cut production was Nigeria (X tons), comprising approx. 49% of total volume. Moreover, fresh chicken cut production in Nigeria exceeded the figures recorded by the second-largest producer, Ghana (X tons), sixfold. Cote d'Ivoire (X tons) ranked third in terms of total production with a 7.3% share.

From 2012 to 2021, the average annual growth rate of volume in Nigeria totaled +3.7%. In the other countries, the average annual rates were as follows: Ghana (+7.1% per year) and Cote d'Ivoire (+7.9% per year).

Fresh Chicken Cut Exports

Exports in ECOWAS

In 2021, exports of fresh or chilled cuts of chicken in ECOWAS reduced notably to X tons, dropping by -51.1% compared with the previous year's figure. Overall, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by 181% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, fresh chicken cut exports fell markedly to $X in 2021. In general, exports showed a sharp slump. The most prominent rate of growth was recorded in 2014 when exports increased by 148%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Ghana (X tons) represented the key exporter of fresh or chilled cuts of chicken in ECOWAS, creating 100% of total export.

Ghana was also the fastest-growing in terms of the fresh or chilled cuts of chicken exports, with a CAGR of -17.6% from 2012 to 2021. While the share of Ghana (+18 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) also remains the largest fresh chicken cut supplier in ECOWAS.

From 2012 to 2021, the average annual rate of growth in terms of value in Ghana stood at -18.6%.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, reducing by -32.3% against the previous year. Over the period under review, the export price recorded a perceptible reduction. The most prominent rate of growth was recorded in 2019 when the export price increased by 31% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Ghana.

From 2012 to 2021, the rate of growth in terms of prices for Ghana amounted to -1.2% per year.

Fresh Chicken Cut Imports

Imports in ECOWAS

In 2021, approx. X tons of fresh or chilled cuts of chicken were imported in ECOWAS; rising by 18% against the year before. Over the period under review, imports, however, recorded a pronounced contraction. The growth pace was the most rapid in 2015 with an increase of 53% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, fresh chicken cut imports surged to $X in 2021. Total imports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +81.8% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Ghana was the major importer of fresh or chilled cuts of chicken in ECOWAS, with the volume of imports accounting for X tons, which was approx. 56% of total imports in 2021. Liberia (X tons) ranks second in terms of the total imports with a 21% share, followed by Benin (12%). The following importers - Sierra Leone (X tons) and Guinea (X tons) - each reached a 7.9% share of total imports.

Imports into Ghana decreased at an average annual rate of -4.3% from 2012 to 2021. At the same time, Benin (+20.8%), Sierra Leone (+16.6%) and Guinea (+2.1%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +20.8% from 2012-2021. By contrast, Liberia (-6.9%) illustrated a downward trend over the same period. Benin (+11 p.p.), Sierra Leone (+3.6 p.p.) and Guinea (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Liberia saw its share reduced by -6.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported fresh or chilled cuts of chicken in ECOWAS, comprising 71% of total imports. The second position in the ranking was taken by Benin ($X), with an 11% share of total imports. It was followed by Liberia, with an 8.1% share.

In Ghana, fresh chicken cut imports increased at an average annual rate of +5.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Benin (+18.8% per year) and Liberia (-9.7% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, jumping by 28% against the previous year. Import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fresh chicken cut import price increased by +43.7% against 2019 indices. The pace of growth was the most pronounced in 2017 when the import price increased by 30% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Ghana ($X per ton), while Liberia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+9.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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