ECOWAS: Vegetable Product Market 2024

Vegetable Product Market Size in ECOWAS

The ECOWAS vegetable product market totaled $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The level of consumption peaked in 2022 and is likely to see gradual growth in the near future.

Vegetable Product Production in ECOWAS

In value terms, vegetable product production rose modestly to $X in 2022 estimated in export price. The total production indicated tangible 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Cote d'Ivoire (X tons), Nigeria (X tons) and Senegal (X tons), together comprising X% of total production. Mali, Niger, Burkina Faso and Guinea lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Niger (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

The average vegetable product yield contracted slightly to X tons per ha in 2022, flattening at the year before. In general, the yield showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. The level of yield peaked at X tons per ha in 2012; however, from 2013 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of vegetable products production in ECOWAS amounted to X ha, therefore, remained relatively stable against 2021 figures. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to vegetable product production reached the peak figure in 2022 and is expected to retain growth in the near future.

Vegetable Product Exports

Exports in ECOWAS

In 2022, after two years of growth, there was significant decline in overseas shipments of vegetable products, when their volume decreased by X% to X tons. In general, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of X%. The volume of export peaked at X tons in 2021, and then contracted dramatically in the following year.

In value terms, vegetable product exports surged to $X in 2022. Over the period under review, exports, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Nigeria was the major exporter of vegetable products in ECOWAS, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. It was distantly followed by Niger (X tons), constituting a X% share of total exports.

Exports from Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Niger (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. While the share of Niger (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nigeria (X p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria amounted to X%.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the export price, however, recorded a noticeable curtailment. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Niger stood at $X per ton.

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

Vegetable Product Imports

Imports in ECOWAS

In 2022, approx. X tons of vegetable products were imported in ECOWAS; reducing by X% on the previous year. In general, imports showed a pronounced downturn. The growth pace was the most rapid in 2013 when imports increased by X%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, vegetable product imports contracted notably to $X in 2022. Overall, imports, however, showed a resilient increase. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Nigeria represented the main importer of vegetable products in ECOWAS, with the volume of imports finishing at X tons, which was near X% of total imports in 2022. Togo (X tons) held the second position in the ranking, followed by Cabo Verde (X tons), Senegal (X tons), Cote d'Ivoire (X tons) and Ghana (X tons). All these countries together took near X% share of total imports. Benin (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to vegetable product imports into Nigeria stood at X%. At the same time, Cote d'Ivoire (X%), Cabo Verde (X%), Togo (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Senegal experienced a relatively flat trend pattern. By contrast, Benin (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.), Togo (X p.p.), Cabo Verde (X p.p.), Cote d'Ivoire (X p.p.), Senegal (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Benin (X p.p.) displayed negative dynamics.

In value terms, the largest vegetable product importing markets in ECOWAS were Senegal ($X), Nigeria ($X) and Cote d'Ivoire ($X), together accounting for X% of total imports.

Among the main importing countries, Cote d'Ivoire, with a CAGR of X%, recorded the highest rates of growth with regard to 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 2022, the import price in ECOWAS amounted to $X per ton, rising by X% against the previous year. Over the period under review, the import price showed a prominent expansion. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

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 Senegal ($X per ton), while Benin ($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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