ECOWAS: Market for Coconut, Abaca, Ramie and other Vegetable Textile Fibres 2024

Market Size for Coconut, Abaca, Ramie and other Vegetable Textile Fibres in ECOWAS

In 2022, the ECOWAS market for coconut, abaca, ramie and other vegetable textile fibres decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. The total consumption indicated a mild increase 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. Over the period under review, the market attained the peak level at $X in 2021, and then contracted markedly in the following year.

Production of Coconut, Abaca, Ramie and other Vegetable Textile Fibres in ECOWAS

In value terms, production of coconut, abaca, ramie and other vegetable textile fibres shrank modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible setback. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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

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

In 2022, the average yield of coconut, abaca, ramie and other vegetable textile fibres in ECOWAS was estimated at X tons per ha, stabilizing at the previous year. Over the period under review, the yield saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the yield of coconut, abaca, ramie and other vegetable textile fibres hit record highs at X tons per ha in 2020; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of coconut, abaca, ramie and other vegetable textile fibres in ECOWAS shrank slightly to X ha, remaining relatively unchanged against the previous year. Overall, the harvested area, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, the harvested area dedicated to coconut, abaca, ramie and other vegetable textile fibre production reached the peak figure at X ha in 2018; afterwards, it flattened through to 2022.

Exports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Exports in ECOWAS

Exports of coconut, abaca, ramie and other vegetable textile fibres fell to X tons in 2022, waning by X% on 2021 figures. In general, exports, however, recorded a moderate increase. The most prominent rate of growth was recorded in 2017 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres surged to $X in 2022. Total exports 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

Cote d'Ivoire prevails in fibres structure, finishing at X tons, which was near X% of total exports in 2022. It was distantly followed by Sierra Leone (X tons), achieving a X% share of total exports. Ghana (X tons) followed a long way behind the leaders.

Exports from Cote d'Ivoire increased at an average annual rate of X% from 2012 to 2022. At the same time, Ghana (X%) and Sierra Leone (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. While the share of Sierra Leone (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (X p.p.) displayed negative dynamics.

In value terms, Cote d'Ivoire ($X) remains the largest coconut, abaca, ramie and other vegetable textile fibre supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Sierra Leone ($X), with an X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire was relatively modest. In the other countries, the average annual rates were as follows: Sierra Leone (X% per year) and Ghana (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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 Sierra Leone ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the export price figures.

Imports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Imports in ECOWAS

After three years of growth, overseas purchases of coconut, abaca, ramie and other vegetable textile fibres decreased by X% to X tons in 2022. Over the period under review, imports, however, enjoyed a moderate expansion. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021, and then reduced notably in the following year.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres fell markedly to $X in 2022. In general, imports, however, recorded tangible growth. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The level of import peaked at $X in 2021, and then fell markedly in the following year.

Imports by Country

Ghana represented the largest importer of coconut, abaca, ramie and other vegetable textile fibres in ECOWAS, with the volume of imports reaching X tons, which was approx. X% of total imports in 2022. It was distantly followed by Nigeria (X tons), Gambia (X tons), Guinea (X tons) and Cote d'Ivoire (X tons), together mixing up a X% share of total imports. Liberia (X tons) and Benin (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Gambia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest coconut, abaca, ramie and other vegetable textile fibre importing markets in ECOWAS were Ghana ($X), Nigeria ($X) and Gambia ($X), with a combined X% share of total imports.

In terms of the main importing countries, Gambia, with a CAGR of X%, recorded the highest growth rate of the value of imports, 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. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, import prices reached the maximum in 2022 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 Gambia ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Liberia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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