ECOWAS: Molluscs Market 2024

Molluscs Market Size in ECOWAS

The ECOWAS molluscs market expanded to $X in 2023, rising by X% against the previous year. Over the period under review, consumption recorded a resilient increase. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Molluscs Production in ECOWAS

In value terms, molluscs production stood at $X in 2023 estimated in export price. The total production indicated a resilient expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, production attained the peak level at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Molluscs Exports

Exports in ECOWAS

In 2023, shipments abroad of molluscs (scallops, mussels, cuttle fish, squid and octopus) was finally on the rise to reach X tons for the first time since 2019, thus ending a three-year declining trend. Over the period under review, exports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, molluscs exports fell modestly to $X in 2023. Overall, exports, however, continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

Exports by Country

Senegal represented the major exporter of molluscs (scallops, mussels, cuttle fish, squid and octopus) in ECOWAS, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2023. It was distantly followed by Gambia (X tons) and Ghana (X tons), together mixing up a X% share of total exports. The following exporters - Cote d'Ivoire (X tons) and Guinea (X tons) - each reached a X% share of total exports.

Exports from Senegal decreased at an average annual rate of X% from 2012 to 2023. At the same time, Gambia (X%), Cote d'Ivoire (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Ghana (X%) illustrated a downward trend over the same period. Gambia (X p.p.) and Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total exports, while Ghana and Senegal saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Senegal, molluscs exports contracted by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Gambia (X% per year) and Ghana (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, reducing by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2022, and then declined in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Guinea ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Guinea (X%), while the other leaders experienced more modest paces of growth.

Molluscs Imports

Imports in ECOWAS

For the third consecutive year, ECOWAS recorded growth in supplies from abroad of molluscs (scallops, mussels, cuttle fish, squid and octopus), which increased by X% to X tons in 2023. Over the period under review, imports showed a moderate expansion. The growth pace was the most rapid in 2013 when imports increased by X%. As a result, imports attained the peak of X tons. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, molluscs imports soared to $X in 2023. Overall, imports continue to indicate mild growth. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria was the major importing country with an import of about X tons, which resulted at X% of total imports. Senegal (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Cabo Verde (X%) and Mali (X%). The following importers - Cote d'Ivoire (X tons) and Ghana (X tons) - each finished at a X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Nigeria (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest molluscs importing markets in ECOWAS were Senegal ($X), Nigeria ($X) and Cabo Verde ($X), together accounting for X% of total imports.

Nigeria, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in ECOWAS amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price recorded a perceptible slump. The most prominent rate of growth was recorded in 2022 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2019; however, from 2020 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Senegal ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform