ECOWAS: Skim Powdered Milk Market 2024

Skim Powdered Milk Exports

Exports in ECOWAS

In 2022, shipments abroad of skim powdered milk decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, skim powdered milk exports declined to $X in 2022. Over the period under review, exports, however, continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2014 when exports increased by X%. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Togo represented the key exporting country with an export of around X tons, which accounted for X% of total exports. Ghana (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (X%) and Niger (X%).

Exports from Togo increased at an average annual rate of X% from 2012 to 2022. At the same time, Senegal (X%) and Ghana (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, Niger (X%) illustrated a downward trend over the same period. Senegal (X p.p.) and Ghana (X p.p.) significantly strengthened its position in terms of the total exports, while Niger saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Togo, skim powdered milk exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (X% per year) and Ghana (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, waning by X% against the previous year. Export price indicated tangible 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, skim powdered milk export price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 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 Senegal ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (X%), while the other leaders experienced a decline in the export price figures.

Skim Powdered Milk Imports

Imports in ECOWAS

In 2022, purchases abroad of skim powdered milk decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, saw pronounced growth. The pace of growth appeared the most rapid in 2019 when imports increased by X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, skim powdered milk imports dropped to $X in 2022. Overall, imports, however, saw a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, 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 accounted for X% of total imports. It was distantly followed by Ghana (X tons), Cote d'Ivoire (X tons) and Burkina Faso (X tons), together comprising a X% share of total imports. Senegal (X tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest skim powdered milk importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), together accounting for X% of total imports. Burkina Faso and Senegal lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Burkina Faso, 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, surging by X% against the previous year. Import price indicated a tangible increase 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, skim powdered milk import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of X%. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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

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

Source: IndexBox Platform

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