ECOWAS: Vegetable Market 2024

Vegetable Market Size in ECOWAS

The ECOWAS vegetable market was estimated at $X in 2023, stabilizing at the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 when the market value increased by X% against the previous year. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Vegetable Production in ECOWAS

In value terms, vegetable production rose remarkably to $X in 2023 estimated in export price. Overall, production faced a deep reduction. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

The country with the largest volume of vegetable production was Nigeria (X tons), accounting for X% of total volume. Moreover, vegetable production in Nigeria exceeded the figures recorded by the second-largest producer, Ghana (X tons), fourfold. The third position in this ranking was held by Cote d'Ivoire (X tons), with a X% share.

In Nigeria, vegetable production expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Cote d'Ivoire (X% per year).

The average vegetable yield fell to X tons per ha in 2023, approximately equating the year before. In general, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the yield increased by X%. Over the period under review, the vegetable yield reached the maximum level at X tons per ha in 2018; however, from 2019 to 2023, 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 2023, the total area harvested in terms of vegetables production in ECOWAS dropped slightly to X ha, remaining constant against the previous year's figure. The harvested area increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when the harvested area increased by X% against the previous year. The level of harvested area peaked at X ha in 2022, and then contracted slightly in the following year.

Vegetable Exports

Exports in ECOWAS

In 2023, approx. X tons of vegetables were exported in ECOWAS; rising by X% compared with the previous year's figure. Over the period under review, exports recorded a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, vegetable exports skyrocketed to $X in 2023. Total exports indicated a buoyant increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. Over the period under review, the exports hit record highs at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Niger (X tons) represented the main exporter of vegetables, achieving X% of total exports. Senegal (X tons) took the second position in the ranking, followed by Ghana (X tons), Burkina Faso (X tons) and Benin (X tons). All these countries together took near X% share of total exports. The following exporters - Togo (X tons) and Nigeria (X tons) - each recorded a X% share of total exports.

Exports from Niger increased at an average annual rate of X% from 2012 to 2023. At the same time, Benin (X%), Togo (X%), Senegal (X%), Ghana (X%) and Nigeria (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Burkina Faso (X%) illustrated a downward trend over the same period. While the share of Niger (X p.p.) and Benin (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Burkina Faso (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest vegetable supplying countries in ECOWAS were Senegal ($X), Niger ($X) and Ghana ($X), together accounting for X% of total exports. Nigeria, Togo, Benin and Burkina Faso lagged somewhat behind, together accounting for a further X%.

Benin, with a CAGR of X%, saw the highest growth rate of the value of exports, among 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 2023, the export price in ECOWAS amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.

Vegetable Imports

Imports in ECOWAS

In 2023, purchases abroad of vegetables decreased by X% to X tons for the first time since 2018, thus ending a four-year rising trend. Total imports indicated moderate growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2017 indices. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The volume of import peaked at X tons in 2022, and then dropped slightly in the following year.

In value terms, vegetable imports reduced to $X in 2023. Over the period under review, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2022, and then reduced in the following year.

Imports by Country

Cote d'Ivoire (X tons) and Senegal (X tons) were the major importers of vegetables in 2023, reaching near X% and X% of total imports, respectively. Guinea (X tons) ranks next in terms of the total imports with a X% share, followed by Mali (X%). The following importers - Nigeria (X tons), Ghana (X tons), Togo (X tons), Burkina Faso (X tons), Sierra Leone (X tons), Gambia (X tons) and Cabo Verde (X tons) - together made up X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main 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, Cote d'Ivoire ($X), Senegal ($X) and Nigeria ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

Among the main importing countries, Nigeria, with a CAGR of X%, recorded the highest growth rate of 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 2023, the import price in ECOWAS amounted to $X per ton, shrinking by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped in the following year.

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 2023, the most notable rate of growth in terms of prices was attained by Gambia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform