ECOWAS: Fonio Market 2024

Fonio Market Size in ECOWAS

The ECOWAS fonio market rose modestly to $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Fonio Production in ECOWAS

In value terms, fonio production expanded notably to $X in 2022 estimated in export price. Overall, production recorded noticeable growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Guinea (X tons) remains the largest fonio producing country in ECOWAS, comprising approx. X% of total volume. Moreover, fonio production in Guinea exceeded the figures recorded by the second-largest producer, Nigeria (X tons), sixfold. The third position in this ranking was taken by Mali (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Guinea totaled X%. The remaining producing countries recorded the following average annual rates of production growth: Nigeria (X% per year) and Mali (X% per year).

The average fonio yield stood at X kg per ha in 2022, approximately mirroring 2021. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the yield reached the peak level of X kg per ha. From 2014 to 2022, the growth of the fonio 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 harvested area of fonio in ECOWAS amounted to X ha, approximately mirroring the year before. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The level of harvested area peaked at X ha in 2018; however, from 2019 to 2022, the harvested area failed to regain momentum.

Fonio Exports

Exports in ECOWAS

In 2022, after three years of growth, there was significant decline in shipments abroad of fonio, when their volume decreased by X% to X tons. Over the period under review, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2021, and then declined markedly in the following year.

In value terms, fonio exports contracted sharply to $X in 2022. In general, exports, however, recorded a significant increase. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2021, and then fell sharply in the following year.

Exports by Country

Mali represented the main exporting country with an export of about X tons, which accounted for X% of total exports. Guinea (X tons) held the second position in the ranking, distantly followed by Burkina Faso (X tons) and Senegal (X tons). All these countries together held near X% share of total exports. Cote d'Ivoire (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to fonio exports from Mali stood at X%. At the same time, Senegal (X%), Burkina Faso (X%), Guinea (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. While the share of Burkina Faso (X p.p.), Senegal (X p.p.) and Cote d'Ivoire (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Guinea (X p.p.) and Mali (X p.p.) displayed negative dynamics.

In value terms, the largest fonio supplying countries in ECOWAS were Mali ($X), Guinea ($X) and Senegal ($X), with a combined X% share of total exports.

Senegal, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Mali ($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 more modest paces of growth.

Fonio Imports

Imports in ECOWAS

In 2022, fonio imports in ECOWAS plummeted to X kg, falling by X% compared with the previous year. In general, imports saw a sharp slump. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then reduced notably in the following year.

In value terms, fonio imports dropped dramatically to $X in 2022. Overall, imports, however, enjoyed noticeable growth. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then dropped rapidly in the following year.

Imports by Country

In 2022, Nigeria (X kg) was the major importer of fonio, making up X% of total imports. It was distantly followed by Cabo Verde (X kg), achieving a X% share of total imports.

Nigeria experienced a relatively flat trend pattern with regard to volume of imports of fonio. Cabo Verde experienced a relatively flat trend pattern. While the share of Nigeria (X p.p.) and Cabo Verde (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2016 to 2022, the average annual growth rate of value in Nigeria was relatively modest.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the import price showed significant growth. As a result, import price attained the peak level 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 Nigeria ($X per ton), while Cabo Verde amounted to $X per ton.

From 2016 to 2022, the most notable rate of growth in terms of prices was attained by Cabo Verde (X%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :