ECOWAS: Kola Nut Market 2024

Kola Nut Market Size in ECOWAS

The ECOWAS kola nut market dropped to $X in 2022, falling by X% against the previous year. In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Kola Nut Production in ECOWAS

In value terms, kola nut production declined to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Nigeria (X tons) constituted the country with the largest volume of kola nut production, accounting for X% of total volume. Moreover, kola nut production in Nigeria exceeded the figures recorded by the second-largest producer, Cote d'Ivoire (X tons), threefold. The third position in this ranking was taken by Ghana (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Nigeria stood at X%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Ghana (X% per year).

In 2022, the average kola nut yield in ECOWAS reached X kg per ha, remaining stable against 2021 figures. Overall, the yield saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the yield increased by X%. As a result, the yield attained the peak level of X kg per ha. From 2015 to 2022, the growth of the kola nut yield failed to regain momentum. 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 kola nuts production in ECOWAS reached X ha, flattening at 2021. Overall, the harvested area saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, the harvested area dedicated to kola nut production attained the peak figure at X ha in 2015; however, from 2016 to 2022, the harvested area failed to regain momentum.

Kola Nut Exports

Exports in ECOWAS

In 2022, exports of kola nuts in ECOWAS fell remarkably to X tons, which is down by X% against 2021 figures. Overall, exports saw a mild shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, kola nut exports dropped rapidly to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire represented the key exporting country with an export of around X tons, which amounted to X% of total exports. Sierra Leone (X tons) held the second position in the ranking, distantly followed by Nigeria (X tons). All these countries together took approx. X% share of total exports. Guinea (X tons), Ghana (X tons) and Senegal (X tons) held a minor share of total exports.

Exports from Cote d'Ivoire decreased at an average annual rate of X% from 2012 to 2022. At the same time, Senegal (X%), Guinea (X%) and Sierra Leone (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. By contrast, Ghana (X%) and Nigeria (X%) illustrated a downward trend over the same period. Sierra Leone (X p.p.), Guinea (X p.p.) and Senegal (X p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire and Nigeria 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, Cote d'Ivoire ($X) emerged as the largest kola nut supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Sierra Leone ($X), with an X% share of total exports. It was followed by Guinea, with a X% share.

In Cote d'Ivoire, kola nut exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Sierra Leone (X% per year) and Guinea (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, surging by X% against the previous year. Export price indicated a slight expansion 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. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Ghana ($X per ton), while Senegal ($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.

Kola Nut Imports

Imports in ECOWAS

In 2022, after two years of growth, there was significant decline in overseas purchases of kola nuts, when their volume decreased by X% to X tons. Over the period under review, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2015 with an increase of X%. The volume of import peaked at X tons in 2021, and then shrank notably in the following year.

In value terms, kola nut imports contracted significantly to $X in 2022. In general, imports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Burkina Faso (X tons) was the major importer of kola nuts in ECOWAS, achieving X% of total import.

Burkina Faso was also the fastest-growing in terms of the kola nuts imports, with a CAGR of X% from 2012 to 2022. While the share of Burkina Faso (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Burkina Faso ($X) constitutes the largest market for imported kola nuts in ECOWAS.

From 2012 to 2022, the average annual growth rate of value in Burkina Faso amounted to X%.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, reducing by X% against the previous year. Overall, the import price showed a sharp contraction. The pace of growth appeared the most rapid in 2016 when the import price increased by X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Burkina Faso.

From 2012 to 2022, the rate of growth in terms of prices for Burkina Faso amounted to X% per year.

Source: IndexBox Platform

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