ECOWAS: Banana And Plantain Market 2024

Banana And Plantain Market Size in ECOWAS

The ECOWAS banana and plantain market reached $X in 2022, therefore, remained relatively stable against the previous year. 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. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Banana And Plantain Production in ECOWAS

In value terms, banana and plantain production fell to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Ghana (X tons), Nigeria (X tons) and Cote d'Ivoire (X tons), with a combined X% share of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Cote d'Ivoire (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

The average banana and plantain yield dropped modestly to X tons per ha in 2022, approximately mirroring the year before. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the banana and plantain yield hit record highs at X tons per ha in 2019; however, from 2020 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, approx. X ha of bananas and plantains were harvested in ECOWAS; stabilizing 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 consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The level of harvested area peaked at X ha in 2019; afterwards, it flattened through to 2022.

Banana And Plantain Exports

Exports in ECOWAS

In 2022, approx. X tons of bananas and plantains were exported in ECOWAS; shrinking by X% against 2021 figures. Over the period under review, exports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2016 when exports increased by X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, banana and plantain exports shrank significantly to $X in 2022. Overall, exports saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Cote d'Ivoire (X tons) represented the key exporter of bananas and plantains, comprising X% of total exports. It was distantly followed by Ghana (X tons), generating an X% share of total exports.

Exports from Cote d'Ivoire decreased at an average annual rate of X% from 2012 to 2022. Ghana experienced a relatively flat trend pattern. From 2012 to 2022, the share of Ghana increased by X percentage points.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire stood at X%.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, waning by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($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 Cote d'Ivoire (X%).

Banana And Plantain Imports

Imports in ECOWAS

After six years of growth, overseas purchases of bananas and plantains decreased by X% to X tons in 2022. Over the period under review, imports, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2021, and then shrank in the following year.

In value terms, banana and plantain imports contracted to $X in 2022. Overall, imports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, Senegal (X tons) was the key importer of bananas and plantains, creating X% of total imports. Mali (X tons) ranks second in terms of the total imports with an X% share, followed by Burkina Faso (X%). Niger (X tons) and Nigeria (X tons) followed a long way behind the leaders.

Imports into Senegal increased at an average annual rate of X% from 2012 to 2022. At the same time, Mali (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Niger (X%) and Nigeria (X%) illustrated a downward trend over the same period. While the share of Mali (X p.p.) and Burkina Faso (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (X p.p.) and Niger (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) constitutes the largest market for imported bananas and plantains in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Mali ($X), with a X% share of total imports. It was followed by Nigeria, with a X% share.

In Senegal, banana and plantain imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mali (X% per year) and Nigeria (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :