ECOWAS: Preserved Olive Market 2024

Preserved Olive Market Size in ECOWAS

The ECOWAS preserved olive market amounted to $X in 2022, picking up by X% against the previous year. Over the period under review, consumption saw strong growth. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Preserved Olive Production in ECOWAS

In value terms, preserved olive production reached $X in 2022 estimated in export price. Overall, production showed strong growth. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Preserved Olive Exports

Exports in ECOWAS

In 2022, the amount of olives prepared or preserved exported in ECOWAS skyrocketed to X tons, increasing by X% on the year before. In general, exports recorded significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, preserved olive exports soared to $X in 2022. Overall, exports saw a strong increase. The pace of growth appeared the most rapid in 2017 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Senegal prevails in exports structure, amounting to X tons, which was near X% of total exports in 2022. Guinea (X tons) held a little share of total exports.

Senegal was also the fastest-growing in terms of the olives prepared or preserved exports, with a CAGR of X% from 2012 to 2022. At the same time, Guinea (X%) displayed positive paces of growth. From 2012 to 2022, the share of Senegal and Guinea increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) emerged as the largest preserved olive supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Guinea ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Senegal stood at X%.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the export price saw a deep contraction. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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 Guinea ($X per ton), while Senegal stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (X%).

Preserved Olive Imports

Imports in ECOWAS

In 2022, overseas purchases of olives prepared or preserved increased by X% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated a resilient increase from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2016 with an increase of X%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, preserved olive imports reached $X in 2022. Total imports indicated temperate 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, imports increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

Imports by Country

Senegal represented the largest importing country with an import of around X tons, which finished at X% of total imports. It was distantly followed by Cote d'Ivoire (X tons), Cabo Verde (X tons), Ghana (X tons), Benin (X tons) and Burkina Faso (X tons), together creating a X% share of total imports. Mali (X tons) held a relatively small share of total imports.

Imports into Senegal increased at an average annual rate of X% from 2012 to 2022. At the same time, Mali (X%), Ghana (X%), Cote d'Ivoire (X%), Cabo Verde (X%) and Benin (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Burkina Faso (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Senegal, Cote d'Ivoire, Mali and Ghana increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest preserved olive importing markets in ECOWAS were Senegal ($X), Cote d'Ivoire ($X) and Cabo Verde ($X), together accounting for X% of total imports. Ghana, Mali, Benin and Burkina Faso lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Mali, with a CAGR of X%, recorded 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, shrinking by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 Cabo Verde ($X per ton), while Senegal ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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