ECOWAS: Market for Cod, Salted or in Brine 2024

Market Size for Cod, Salted or in Brine in ECOWAS

The ECOWAS market for cod, salted or in brine rose modestly to $X in 2022, growing by X% against the previous year. The total consumption indicated notable 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 decreased by X% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Cod, Salted or in Brine in ECOWAS

In value terms, cod, salted or in brine production rose modestly to $X in 2022 estimated in export price. The total production 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Cod, Salted or in Brine

Exports in ECOWAS

In 2021, overseas shipments of cod, salted or in brine decreased by X% to X kg, falling for the second year in a row after two years of decline. In general, exports enjoyed modest growth. 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 2021, the growth of the exports remained at a lower figure.

In value terms, cod, salted or in brine exports amounted to $X in 2021. Over the period under review, exports continue to indicate a deep setback. The smallest decline of X% was in 2017. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, surging by X% against the previous year. In general, the export price, however, showed a abrupt slump. The pace of growth appeared the most rapid in 2017 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Senegal totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (X%).

Imports of Cod, Salted or in Brine

Imports in ECOWAS

In 2022, supplies from abroad of cod, salted or in brine was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, cod, salted or in brine imports soared to $X in 2022. Over the period under review, imports, however, showed a deep downturn. The most prominent rate of growth was recorded in 2014 with an increase of X%. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X tons) and Cabo Verde (X tons) represented the major importers of cod, salted or in brine in ECOWAS, together committing X% of total imports. It was distantly followed by Guinea-Bissau (X tons), comprising a X% share of total imports. Liberia (X kg) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Cabo Verde (with a CAGR of X%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Cabo Verde ($X) constitutes the largest market for imported cod, salted or in brine in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Nigeria ($X), with an X% share of total imports. It was followed by Guinea-Bissau, with a X% share.

In Cabo Verde, cod, salted or in brine imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nigeria (X% per year) and Guinea-Bissau (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, picking up by X% against the previous year. Import price indicated noticeable growth from 2012 to 2022: its price 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, cod, salted or in brine import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2015 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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