ECOWAS: Ginger Market 2024

Ginger Market Size in ECOWAS

The ECOWAS ginger market contracted slightly to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Ginger Production in ECOWAS

In value terms, ginger production skyrocketed to $X in 2022 estimated in export price. In general, production continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

The country with the largest volume of ginger production was Nigeria (X tons), accounting for X% of total volume. Moreover, ginger production in Nigeria exceeded the figures recorded by the second-largest producer, Mali (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Nigeria totaled X%.

In 2022, the average yield of ginger in ECOWAS shrank slightly to X tons per ha, dropping by X% against 2021. Over the period under review, the yield, however, posted a strong increase. The pace of growth appeared the most rapid in 2015 when the yield increased by X%. Over the period under review, the ginger yield attained the maximum level at X tons per ha in 2016; however, from 2017 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of ginger production in ECOWAS shrank modestly to X ha, remaining constant against 2021 figures. In general, the harvested area saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to ginger production reached the peak figure at X ha in 2013; however, from 2014 to 2022, the harvested area stood at a somewhat lower figure.

Ginger Exports

Exports in ECOWAS

In 2022, shipments abroad of ginger increased by X% to X tons, rising for the sixth year in a row after three years of decline. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, ginger exports surged to $X in 2022. Overall, exports, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2018 when exports increased by X%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Nigeria (X tons) represented the major exporter of ginger, constituting X% of total exports. It was distantly followed by Cote d'Ivoire (X tons), comprising a X% share of total exports.

Nigeria experienced a relatively flat trend pattern with regard to volume of exports of ginger. At the same time, Cote d'Ivoire (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. Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) remains the largest ginger supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports.

In Nigeria, ginger exports shrank by an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, flattening at the previous year. Overall, the export price saw a deep slump. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

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 Nigeria ($X per ton), while Cote d'Ivoire stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%).

Ginger Imports

Imports in ECOWAS

After two years of decline, overseas purchases of ginger increased by X% to X tons in 2022. In general, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, ginger imports soared to $X in 2022. Over the period under review, imports posted tangible growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Mali was the main importing country with an import of around X tons, which finished at X% of total imports. Burkina Faso (X tons) ranks second in terms of the total imports with a X% share, followed by Nigeria (X%), Senegal (X%), Benin (X%) and Niger (X%). Ghana (X tons) followed a long way behind the leaders.

Mali was also the fastest-growing in terms of the ginger imports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%), Burkina Faso (X%) and Benin (X%) displayed positive paces of growth. Niger experienced a relatively flat trend pattern. By contrast, Senegal (X%) and Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mali and Burkina Faso increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ginger importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Mali ($X), together accounting for X% of total imports.

Mali, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, reducing by X% against the previous year. Overall, the import price showed a mild slump. The pace of growth was the most pronounced in 2013 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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