ECOWAS: Cereal Germ Market 2024

Cereal Germ Market Size in ECOWAS

The ECOWAS cereal germ market reduced modestly to $X in 2022, almost unchanged from the previous year. 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 2020 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Cereal Germ Production in ECOWAS

In value terms, cereal germ production contracted modestly to $X in 2022 estimated in export price. The total production 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Cereal Germ Exports

Exports in ECOWAS

In 2022, approx. X tons of cereal germ were exported in ECOWAS; with an increase of X% on the previous year's figure. Over the period under review, exports recorded strong growth. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, cereal germ exports surged to $X in 2022. In general, exports posted significant growth. The pace of growth appeared the most rapid in 2017 with an increase of X%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Cote d'Ivoire (X tons) was the major exporter of cereal germ, mixing up X% of total exports. Nigeria (X tons) took the second position in the ranking, distantly followed by Senegal (X tons). All these countries together held near X% share of total exports. Ghana (X kg) took a minor share of total exports.

Exports from Cote d'Ivoire increased at an average annual rate of X% from 2012 to 2022. At the same time, Nigeria (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.), Nigeria (X p.p.) and Senegal (X p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Cote d'Ivoire ($X) remains the largest cereal germ supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports. It was followed by Nigeria, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (X% per year) and Nigeria (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the export price enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2017 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 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Nigeria ($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 export price figures.

Cereal Germ Imports

Imports in ECOWAS

In 2022, supplies from abroad of cereal germ increased by X% to X tons, rising for the second consecutive year after four years of decline. In general, imports posted a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, cereal germ imports skyrocketed to $X in 2022. Over the period under review, imports posted a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria dominates imports structure, finishing at X tons, which was near X% of total imports in 2022. Gambia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to cereal germ imports into Nigeria stood at X%. At the same time, Gambia (X%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. While the share of Nigeria (X p.p.) and Gambia (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported cereal germ in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Gambia ($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%.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price posted a strong increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Gambia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%).

Source: IndexBox Platform

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