ECOWAS: Chili And Pepper Market 2024

Chili And Pepper Market Size in ECOWAS

After two years of growth, the ECOWAS chili and pepper market decreased by X% to $X in 2023. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2022, and then shrank modestly in the following year.

Chili And Pepper Production in ECOWAS

In value terms, chili and pepper production expanded to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

The country with the largest volume of chili and pepper production was Nigeria (X tons), accounting for X% of total volume. Moreover, chili and pepper production in Nigeria exceeded the figures recorded by the second-largest producer, Niger (X tons), threefold. The third position in this ranking was held by Benin (X tons), with a X% share.

In Nigeria, chili and pepper production remained relatively stable over the period from 2012-2023. The remaining producing countries recorded the following average annual rates of production growth: Niger (X% per year) and Benin (X% per year).

In 2023, the average yield of chilies and peppers (green) in ECOWAS totaled X tons per ha, remaining relatively unchanged against the previous year. The yield indicated a pronounced increase from 2012 to 2023: its figure increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, chili and pepper yield decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the yield increased by X% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2020 to 2023, the growth of the chili and pepper yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The chili and pepper harvested area contracted to X ha in 2023, which is down by X% against the year before. Over the period under review, the harvested area showed a slight shrinkage. The most prominent rate of growth was recorded in 2022 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to chili and pepper production reached the peak figure at X ha in 2012; however, from 2013 to 2023, the harvested area failed to regain momentum.

Chili And Pepper Exports

Exports in ECOWAS

In 2023, overseas shipments of chilies and peppers (green) decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, exports saw a slight setback. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, chili and pepper exports amounted to $X in 2023. In general, exports recorded a abrupt decrease. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Burkina Faso was the main exporting country with an export of about X tons, which recorded X% of total exports. It was distantly followed by Senegal (X tons), comprising a X% share of total exports. Gambia (X tons), Niger (X tons), Mali (X tons) and Togo (X tons) followed a long way behind the leaders.

Burkina Faso was also the fastest-growing in terms of the chilies and peppers (green) exports, with a CAGR of X% from 2012 to 2023. At the same time, Togo (X%), Niger (X%), Senegal (X%) and Gambia (X%) displayed positive paces of growth. Mali experienced a relatively flat trend pattern. Burkina Faso (X p.p.), Senegal (X p.p.), Gambia (X p.p.), Niger (X p.p.) and Togo (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest chili and pepper supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Burkina Faso ($X), with a X% share of total exports. It was followed by Gambia, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Senegal totaled X%. In the other countries, the average annual rates were as follows: Burkina Faso (X% per year) and Gambia (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, picking up by X% against the previous year. Overall, the export price, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Gambia ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced mixed trends in the export price figures.

Chili And Pepper Imports

Imports in ECOWAS

For the ninth consecutive year, ECOWAS recorded growth in overseas purchases of chilies and peppers (green), which increased by X% to X tons in 2023. Overall, imports recorded a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked in 2023 and is likely to see gradual growth in the near future.

In value terms, chili and pepper imports skyrocketed to $X in 2023. In general, imports showed a significant expansion. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2023 and are expected to retain growth in the near future.

Imports by Country

Nigeria prevails in imports structure, amounting to X tons, which was approx. X% of total imports in 2023. Guinea (X tons), Cabo Verde (X tons), Benin (X tons), Togo (X tons) and Mali (X tons) held a minor share of total imports.

Nigeria was also the fastest-growing in terms of the chilies and peppers (green) imports, with a CAGR of X% from 2012 to 2023. At the same time, Benin (X%), Guinea (X%), Mali (X%), Togo (X%) and Cabo Verde (X%) displayed positive paces of growth. Nigeria (X p.p.), Guinea (X p.p.) and Benin (X p.p.) significantly strengthened its position in terms of the total imports, while Togo and Cabo Verde saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported chilies and peppers (green) in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Cabo Verde ($X), with a X% share of total imports. It was followed by Guinea, with a X% share.

In Nigeria, chili and pepper imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Cabo Verde (X% per year) and Guinea (X% per year).

Import Prices by Country

In 2023, the import price in ECOWAS amounted to $X per ton, jumping by X% against the previous year. Import price indicated a pronounced increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, chili and pepper import price increased by X% against 2021 indices. The pace of growth was the most pronounced in 2014 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2015 to 2023, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cabo Verde ($X per ton), while Togo ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform