ECOWAS: Preserved Beef Market 2024

Preserved Beef Market Size in ECOWAS

The ECOWAS preserved beef market expanded slightly to $X in 2022, surging by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Preserved Beef Production in ECOWAS

In value terms, preserved beef production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Preserved Beef Exports

Exports in ECOWAS

Preserved beef exports skyrocketed to X tons in 2022, with an increase of X% on the previous year's figure. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, preserved beef exports soared to $X in 2022. Over the period under review, exports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Burkina Faso (X tons) represented the major exporter of beef and veal (salted, in brine, dried or smoked) in ECOWAS, committing X% of total export.

Burkina Faso was also the fastest-growing in terms of the beef and veal (salted, in brine, dried or smoked) exports, with a CAGR of X% from 2012 to 2022. While the share of Burkina Faso (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Burkina Faso ($X) also remains the largest preserved beef supplier in ECOWAS.

In Burkina Faso, preserved beef exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the export price recorded a precipitous decline. The most prominent rate of growth was recorded in 2016 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Burkina Faso.

From 2012 to 2022, the rate of growth in terms of prices for Burkina Faso amounted to X% per year.

Preserved Beef Imports

Imports in ECOWAS

In 2022, after three years of decline, there was significant growth in overseas purchases of beef and veal (salted, in brine, dried or smoked), when their volume increased by X% to X tons. Overall, imports saw a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, preserved beef imports skyrocketed to $X in 2022. Over the period under review, imports recorded prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Liberia was the key importer of beef and veal (salted, in brine, dried or smoked) in ECOWAS, with the volume of imports reaching X tons, which was near X% of total imports in 2022. It was distantly followed by Cabo Verde (X tons), Ghana (X tons) and Guinea (X tons), together committing a X% share of total imports. The following importers - Sierra Leone (X tons), Senegal (X tons) and Benin (X tons) - together made up X% of total imports.

Imports into Liberia increased at an average annual rate of X% from 2012 to 2022. At the same time, Guinea (X%), Cabo Verde (X%), Senegal (X%), Sierra Leone (X%), Benin (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. While the share of Liberia (X p.p.), Cabo Verde (X p.p.), Guinea (X p.p.), Sierra Leone (X p.p.) and Senegal (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ghana (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest preserved beef importing markets in ECOWAS were Liberia ($X), Ghana ($X) and Cabo Verde ($X), with a combined X% share of total imports. Senegal, Benin, Sierra Leone and Guinea lagged somewhat behind, together comprising a further X%.

Guinea, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the import price in ECOWAS amounted to $X per ton, waning by X% against the previous year. In general, the import price showed a deep reduction. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Senegal ($X per ton), while Guinea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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