ECOWAS: Potato Starch Market 2024

Potato Starch Market Size in ECOWAS

The ECOWAS potato starch market rose remarkably to $X in 2022, surging by X% against the previous year. Over the period under review, consumption continues to indicate a buoyant expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Potato Starch Production in ECOWAS

In value terms, potato starch production expanded rapidly to $X in 2022 estimated in export price. In general, production posted buoyant growth. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

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Potato Starch Exports

Exports in ECOWAS

In 2022, approx. X tons of potato starch were exported in ECOWAS; growing by X% on 2021. Over the period under review, exports, however, continue to indicate a pronounced decrease. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, potato starch exports expanded notably to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Niger (X tons) represented the main exporter of potato starch, achieving X% of total exports. Senegal (X tons) ranks second in terms of the total exports with a X% share, followed by Ghana (X%) and Nigeria (X%).

Exports from Niger decreased at an average annual rate of X% from 2012 to 2022. At the same time, Nigeria (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Senegal (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana and Nigeria increased by X and X percentage points, respectively.

In value terms, Niger ($X) remains the largest potato starch supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports. It was followed by Nigeria, with a X% share.

In Niger, potato starch exports shrank by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Nigeria (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, reducing by X% 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, potato starch export price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 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 Niger ($X per ton), while Senegal ($X per ton) was amongst the lowest.

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

Potato Starch Imports

Imports in ECOWAS

For the third year in a row, ECOWAS recorded growth in overseas purchases of potato starch, which increased by X% to X tons in 2022. Overall, imports posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, potato starch imports dropped remarkably to $X in 2022. Over the period under review, imports showed a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of X%. The level of import peaked at $X in 2021, and then shrank rapidly in the following year.

Imports by Country

Nigeria prevails in imports structure, recording X tons, which was near X% of total imports in 2022. It was distantly followed by Senegal (X tons), generating an X% share of total imports. Ghana (X tons) held a minor share of total imports.

Nigeria was also the fastest-growing in terms of the potato starch imports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%) and Senegal (X%) displayed positive paces of growth. From 2012 to 2022, the share of Nigeria increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest potato starch importing markets in ECOWAS were Nigeria ($X), Senegal ($X) and Ghana ($X), with a combined X% share of total imports.

Among the main importing countries, Nigeria, 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, dropping by X% against the previous year. In general, the import price saw a abrupt curtailment. The pace of growth appeared the most rapid in 2020 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per ton), while Nigeria ($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 a decline in the import price figures.

Source: IndexBox Platform

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