ECOWAS: Cane Molasses Market 2024

Cane Molasses Market Size in ECOWAS

In 2022, after ten years of growth, there was decline in the ECOWAS cane molasses market, when its value decreased by less than X% to $X. The total consumption indicated resilient 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, consumption increased by X% against 2012 indices. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, the market hit record highs at $X in 2021, and then fell in the following year.

Cane Molasses Production in ECOWAS

In value terms, cane molasses production reached $X in 2022 estimated in export price. The total production indicated buoyant 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 2012 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. Over the period under review, production reached the maximum level in 2022 and is likely to see steady growth in years to come.

Cane Molasses Exports

Exports in ECOWAS

In 2022, shipments abroad of cane molasses increased by X% to X tons, rising for the second year in a row after four years of decline. Over the period under review, exports, however, saw a mild reduction. The most prominent rate of growth was recorded in 2015 when exports increased by X%. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, cane molasses exports reached $X in 2022. In general, exports, however, continue to indicate a abrupt descent. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of cane molasses, namely Cote d'Ivoire, represented more than two-thirds of total export.

Cote d'Ivoire experienced a relatively flat trend pattern with regard to volume of exports of cane molasses. While the share of Cote d'Ivoire (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) also remains the largest cane molasses supplier in ECOWAS.

In Cote d'Ivoire, cane molasses exports declined by 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, falling by X% against the previous year. In general, the export price saw a abrupt downturn. The growth pace was the most rapid in 2020 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 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 Cote d'Ivoire.

From 2012 to 2022, the rate of growth in terms of prices for Cote d'Ivoire amounted to X% per year.

Cane Molasses Imports

Imports in ECOWAS

In 2022, approx. X tons of cane molasses were imported in ECOWAS; falling by X% on 2021 figures. Overall, imports showed a abrupt decrease. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, cane molasses imports dropped to $X in 2022. Total imports indicated tangible 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, imports increased by X% against 2017 indices. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Burkina Faso (X tons) represented the largest importer of cane molasses, achieving X% of total imports. It was distantly followed by Nigeria (X tons), Mali (X tons) and Ghana (X tons), together generating a X% share of total imports. The following importers - Cabo Verde (X tons) and Guinea (X tons) - each finished at an X% share of total imports.

Burkina Faso experienced a relatively flat trend pattern with regard to volume of imports of cane molasses. At the same time, Guinea (X%), Nigeria (X%), Cabo Verde (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. By contrast, Mali (X%) illustrated a downward trend over the same period. While the share of Burkina Faso (X p.p.), Nigeria (X p.p.), Guinea (X p.p.), Cabo Verde (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mali (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X), Ghana ($X) and Burkina Faso ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Cabo Verde, Guinea and Mali 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

The import price in ECOWAS stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2020 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the import prices remained 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 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 Cabo Verde (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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