ECOWAS: Molasse Market 2024

Molasse Market Size in ECOWAS

In 2022, the ECOWAS molasse market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then reduced modestly in the following year.

Molasse Production in ECOWAS

In value terms, molasse production stood at $X in 2022 estimated in export price. The total production indicated a tangible expansion 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 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Molasse Exports

Exports in ECOWAS

In 2022, molasse exports in ECOWAS declined to X tons, dropping by X% against the year before. Over the period under review, exports, however, posted a perceptible increase. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, molasse exports fell to $X in 2022. Overall, exports, however, posted a buoyant expansion. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Gambia (X tons) represented the major exporter of molasses, generating X% of total exports. It was distantly followed by Senegal (X tons), creating a X% share of total exports. Cote d'Ivoire (X tons) followed a long way behind the leaders.

Exports from Gambia increased at an average annual rate of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. Senegal experienced a relatively flat trend pattern. Gambia (X p.p.) and Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total exports, while Senegal saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Gambia ($X) remains the largest molasse supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Senegal ($X), with a X% share of total exports.

In Gambia, molasse exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, therefore, remained relatively stable against the previous year. Export price indicated moderate 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, molasse export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the export price increased by X%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the near future.

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

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

Molasse Imports

Imports in ECOWAS

Molasse imports surged to X tons in 2022, increasing by X% against the year before. In general, imports, however, continue to indicate a slight slump. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, molasse imports declined to $X in 2022. Overall, imports saw mild growth. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Burkina Faso was the major importing country with an import of about X tons, which finished at X% of total imports. Guinea-Bissau (X tons) ranks second in terms of the total imports with an X% share, followed by Sierra Leone (X%), Guinea (X%) and Cote d'Ivoire (X%). Gambia (X tons) followed a long way behind the leaders.

Burkina Faso was also the fastest-growing in terms of the molasses imports, with a CAGR of X% from 2012 to 2022. At the same time, Guinea (X%), Cote d'Ivoire (X%), Sierra Leone (X%) and Gambia (X%) displayed positive paces of growth. By contrast, Guinea-Bissau (X%) illustrated a downward trend over the same period. While the share of Burkina Faso (X p.p.), Sierra Leone (X p.p.), Guinea (X p.p.), Cote d'Ivoire (X p.p.) and Gambia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Guinea-Bissau (X p.p.) displayed negative dynamics.

In value terms, the largest molasse importing markets in ECOWAS were Sierra Leone ($X), Guinea ($X) and Guinea-Bissau ($X), with a combined X% share of total imports.

In terms of the main importing countries, Guinea, with a CAGR of X%, saw 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, with a decrease of X% against the previous year. In general, the import price, however, enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, import prices attained the peak figure at $X per ton in 2021, and then declined sharply in the following year.

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 Sierra Leone ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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