ECOWAS: Coconut Market 2024

Coconut Market Size in ECOWAS

The ECOWAS coconut market totaled $X in 2022, surging by X% against the previous year. Overall, consumption showed a strong expansion. The level of consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Coconut Production in ECOWAS

In value terms, coconut production expanded modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a remarkable increase. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Ghana (X tons) remains the largest coconut producing country in ECOWAS, accounting for X% of total volume. Moreover, coconut production in Ghana exceeded the figures recorded by the second-largest producer, Nigeria (X tons), twofold. Cote d'Ivoire (X tons) ranked third in terms of total production with a X% share.

In Ghana, coconut production expanded at an average annual rate of X% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Nigeria (X% per year) and Cote d'Ivoire (X% per year).

In 2022, the average yield of coconuts in ECOWAS reached X tons per ha, approximately mirroring 2021 figures. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of X%. As a result, the yield attained the peak level of X tons per ha. From 2017 to 2022, the growth of the coconut 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.

In 2022, the total area harvested in terms of coconuts production in ECOWAS shrank slightly to X ha, standing approx. at 2021 figures. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the harvested area increased by X% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2019 to 2022, the growth of the coconut harvested area remained at a somewhat lower figure.

Coconut Exports

Exports in ECOWAS

In 2022, approx. X tons of coconuts were exported in ECOWAS; declining by X% against the year before. In general, exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, coconut exports declined remarkably to $X in 2022. Over the period under review, exports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2015 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire prevails in exports structure, accounting for X tons, which was approx. X% of total exports in 2022. Ghana (X tons) held a relatively small share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the coconuts exports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%) displayed positive paces of growth. Cote d'Ivoire (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, Cote d'Ivoire ($X) remains the largest coconut supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports.

In Cote d'Ivoire, coconut exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, reducing by X% against the previous year. In general, the export price showed a pronounced slump. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2021, and then fell rapidly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Cote d'Ivoire amounted to $X per ton.

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

Coconut Imports

Imports in ECOWAS

In 2022, approx. X tons of coconuts were imported in ECOWAS; growing by X% on 2021. In general, imports recorded a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, coconut imports surged to $X in 2022. Over the period under review, imports saw a significant expansion. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

Imports by Country

Burkina Faso represented the major importing country with an import of about X tons, which finished at X% of total imports. Nigeria (X tons) held the second position in the ranking, followed by Niger (X tons) and Senegal (X tons). All these countries together held approx. X% share of total imports. Mali (X tons) and Ghana (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to coconut imports into Burkina Faso stood at X%. At the same time, Mali (X%), Ghana (X%), Nigeria (X%), Niger (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Nigeria (X p.p.), Niger (X p.p.) and Mali (X p.p.) significantly strengthened its position in terms of the total imports, while Burkina Faso and Senegal saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported coconuts in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Senegal ($X), with a X% share of total imports. It was followed by Niger, with an X% share.

In Nigeria, coconut imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (X% per year) and Niger (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price, however, posted a modest increase. The growth pace was the most rapid in 2013 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 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 Nigeria ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :