Western Africa: Nuts Market 2024

Nuts Market Size in Western Africa

In 2022, after three years of decline, there was growth in the West African nuts market, when its value increased by X% to $X. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Nuts Production in Western Africa

In value terms, nuts production shrank to $X in 2022 estimated in export price. The total production indicated moderate growth 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 increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Cote d'Ivoire (X tons), Ghana (X tons) and Nigeria (X tons), with a combined X% share of total production. Burkina Faso, Benin, Guinea-Bissau and Senegal lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

The average nuts yield declined to X kg per ha in 2022, with a decrease of X% on the year before. Over the period under review, the yield, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the nuts yield reached the maximum level at X kg per ha in 2018; however, from 2019 to 2022, the yield failed to regain momentum. 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 nuts production in Western Africa contracted to X ha, leveling off at the previous year's figure. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when the harvested area increased by X% against the previous year. The level of harvested area peaked at X ha in 2021, and then fell modestly in the following year.

Nuts Exports

Exports in Western Africa

After two years of growth, overseas shipments of nuts decreased by X% to X tons in 2022. Total exports indicated a buoyant expansion 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 most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then contracted markedly in the following year.

In value terms, nuts exports contracted remarkably to $X in 2022. In general, exports, however, recorded a tangible expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then fell significantly in the following year.

Exports by Country

In 2022, Cote d'Ivoire (X tons) was the main exporter of nuts, making up X% of total exports. Ghana (X tons) ranks second in terms of the total exports with a X% share, followed by Nigeria (X%), Burkina Faso (X%), Senegal (X%) and Guinea-Bissau (X%). Guinea (X tons) followed a long way behind the leaders.

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

In value terms, Cote d'Ivoire ($X), Ghana ($X) and Nigeria ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports. Guinea-Bissau, Burkina Faso, Senegal and Guinea lagged somewhat behind, together accounting for a further X%.

Senegal, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, shrinking by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Guinea-Bissau ($X per ton) and Ghana ($X per ton), while Nigeria ($X per ton) and Guinea ($X per ton) were amongst the lowest.

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

Nuts Imports

Imports in Western Africa

In 2022, supplies from abroad of nuts increased by X% to X tons, rising for the third consecutive year after three years of decline. Overall, imports saw a remarkable increase. The growth pace was the most rapid in 2013 when imports increased by X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, nuts imports surged to $X in 2022. In general, imports enjoyed a strong increase. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Nigeria (X tons) represented the largest importer of nuts, generating X% of total imports. Burkina Faso (X tons) held the second position in the ranking, distantly followed by Togo (X tons). All these countries together took approx. X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Nigeria (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported nuts in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Burkina Faso ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria amounted to X%. In the other countries, the average annual rates were as follows: Burkina Faso (X% per year) and Togo (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the import price recorded a slight expansion. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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