ECOWAS: Fruit Flour Market 2024

Fruit Flour Market Size in ECOWAS

In 2022, the ECOWAS fruit flour market decreased by -46.9% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, recorded mild growth. As a result, consumption attained the peak level of $X, and then fell dramatically in the following year.

Fruit Flour Production in ECOWAS

In value terms, fruit flour production dropped rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a tangible expansion. The pace of growth was the most pronounced in 2015 with an increase of 94%. Over the period under review, production attained the peak level at $X in 2021, and then contracted notably in the following year.

Fruit Flour Exports

Exports in ECOWAS

In 2022, shipments abroad of fruit flour increased by 34% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports recorded a prominent increase. The pace of growth was the most pronounced in 2019 with an increase of 124% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, fruit flour exports reduced markedly to $X in 2022. Over the period under review, exports saw a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of 84%. The level of export peaked at $X in 2021, and then plummeted in the following year.

Exports by Country

Nigeria (X tons) and Ghana (X tons) prevails in exports structure, together achieving 87% of total exports. Senegal (X tons) held a 5.4% share (based on physical terms) of total exports, which put it in second place, followed by Cote d'Ivoire (4.6%). Togo (X tons) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Ghana (with a CAGR of +25.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) remains the largest fruit flour supplier in ECOWAS, comprising 62% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 16% share of total exports. It was followed by Senegal, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana totaled +33.5%. In the other countries, the average annual rates were as follows: Nigeria (+7.7% per year) and Senegal (+26.2% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, falling by -37.1% against the previous year. Over the period under review, the export price, however, continues to indicate a mild expansion. The pace of growth appeared the most rapid in 2015 an increase of 88%. The level of export peaked at $X per ton in 2021, and then dropped dramatically in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+6.7%), while the other leaders experienced more modest paces of growth.

Fruit Flour Imports

Imports in ECOWAS

Fruit flour imports declined to X tons in 2022, approximately mirroring the previous year's figure. Overall, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 648%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, fruit flour imports contracted notably to $X in 2022. In general, imports, however, enjoyed pronounced growth. The most prominent rate of growth was recorded in 2013 when imports increased by 255% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Ghana (X tons) represented the major importer of fruit flour, committing 46% of total imports. Nigeria (X tons) held the second position in the ranking, followed by Senegal (X tons) and Cote d'Ivoire (X tons). All these countries together held near 42% share of total imports. Guinea (X tons), Benin (X tons) and Togo (X tons) followed a long way behind the leaders.

Ghana was also the fastest-growing in terms of the fruit flour imports, with a CAGR of +40.7% from 2012 to 2022. At the same time, Togo (+20.1%), Cote d'Ivoire (+16.4%), Guinea (+13.4%) and Senegal (+1.9%) displayed positive paces of growth. By contrast, Nigeria (-4.0%) and Benin (-11.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana and Cote d'Ivoire increased by +43 and +7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Senegal ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2022, together accounting for 74% of total imports.

In terms of the main importing countries, Ghana, with a CAGR of +44.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, reducing by -18.1% against the previous year. Over the period under review, the import price showed a slight decline. The most prominent rate of growth was recorded in 2016 when the import price increased by 131% against the previous year. The level of import peaked at $X per ton in 2021, and then fell significantly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Togo ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+2.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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