ECOWAS: Vegetable Market 2024

Vegetable Market Size in ECOWAS

The ECOWAS vegetable market stood at $X in 2023, surging by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Vegetable Production in ECOWAS

In value terms, vegetable production totaled $X in 2023 estimated in export price. Overall, production saw a abrupt descent. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Nigeria (X tons) remains the largest vegetable producing country in ECOWAS, accounting for X% of total volume. Moreover, vegetable production in Nigeria exceeded the figures recorded by the second-largest producer, Ghana (X tons), fourfold. The third position in this ranking was held by Cote d'Ivoire (X tons), with a X% share.

In Nigeria, vegetable production increased at an average annual rate of X% over the period from 2012-2023. The remaining producing countries recorded the following average annual rates of production growth: Ghana (X% per year) and Cote d'Ivoire (X% per year).

In 2023, the average vegetable yield in ECOWAS fell modestly to X tons per ha, flattening at 2022. In general, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the yield increased by X%. The level of yield peaked at X tons per ha in 2018; however, from 2019 to 2023, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, approx. X ha of vegetables were harvested in ECOWAS; approximately mirroring the year before. The harvested area increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when the harvested area increased by X% against the previous year. The level of harvested area peaked at X ha in 2022, and then reduced modestly in the following year.

Vegetable Exports

Exports in ECOWAS

In 2023, the amount of vegetables exported in ECOWAS skyrocketed to X tons, with an increase of X% against 2022. In general, exports posted a resilient increase. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, vegetable exports surged to $X in 2023. Total exports indicated prominent growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports by Country

Niger represented the main exporter of vegetables in ECOWAS, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2023. Senegal (X tons) took an X% share (based on physical terms) of total exports, which put it in second place, followed by Burkina Faso (X%), Benin (X%) and Ghana (X%). Togo (X tons), Nigeria (X tons) and Mali (X tons) followed a long way behind the leaders.

Exports from Niger increased at an average annual rate of X% from 2012 to 2023. At the same time, Benin (X%), Mali (X%), Togo (X%), Senegal (X%) and Nigeria (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Ghana (X%) and Burkina Faso (X%) illustrated a downward trend over the same period. While the share of Niger (X p.p.), Benin (X p.p.) and Senegal (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Ghana (X p.p.) and Burkina Faso (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest vegetable supplying countries in ECOWAS were Senegal ($X), Niger ($X) and Ghana ($X), together accounting for X% of total exports. Nigeria, Togo, Mali, Benin and Burkina Faso lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Benin, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per ton, declining by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2023, the export prices remained at a lower figure.

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 Senegal ($X per ton), while Burkina Faso ($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.

Vegetable Imports

Imports in ECOWAS

In 2023, approx. X tons of vegetables were imported in ECOWAS; which is down by X% against 2022 figures. Total imports indicated a tangible expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports attained the peak of X tons. From 2021 to 2023, the growth of imports failed to regain momentum.

In value terms, vegetable imports contracted markedly to $X in 2023. In general, imports, however, showed buoyant growth. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then dropped remarkably in the following year.

Imports by Country

Cote d'Ivoire (X tons) and Senegal (X tons) represented roughly X% of total imports in 2023. It was distantly followed by Guinea (X tons) and Mali (X tons), together achieving an X% share of total imports. Nigeria (X tons), Togo (X tons), Burkina Faso (X tons), Ghana (X tons), Sierra Leone (X tons), Gambia (X tons) and Cabo Verde (X tons) followed a long way behind the leaders.

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 vegetable importing markets in ECOWAS were Cote d'Ivoire ($X), Senegal ($X) and Nigeria ($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

In 2023, the import price in ECOWAS amounted to $X per ton, dropping by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2022 an increase of X%. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.

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

From 2012 to 2023, 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