ECOWAS: Whole Fresh Milk Market 2024

Whole Fresh Milk Market Size in ECOWAS

The ECOWAS whole fresh milk market amounted to $X in 2022, picking up by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Whole Fresh Milk Production in ECOWAS

In value terms, whole fresh milk production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, saw a pronounced shrinkage. The growth pace was the most rapid in 2014 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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

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

Whole Fresh Milk Exports

Exports in ECOWAS

In 2022, shipments abroad of whole fresh milk was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, saw a precipitous curtailment. The growth pace was the most rapid in 2016 when exports increased by X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, whole fresh milk exports rose modestly to $X in 2022. Overall, exports, however, faced a sharp descent. The growth pace was the most rapid in 2016 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Cote d'Ivoire (X tons), Senegal (X tons) and Gambia (X tons), together finishing at X% of total export. Sierra Leone (X tons) followed a long way behind the leaders.

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

In value terms, Gambia ($X) remains the largest whole fresh milk supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with a X% share.

In Gambia, whole fresh milk exports increased 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 Cote d'Ivoire (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. Overall, the export price recorded a noticeable downturn. The growth pace was the most rapid in 2016 when the export price increased by 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 Gambia ($X per ton), while Sierra Leone ($X per ton) was amongst the lowest.

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

Whole Fresh Milk Imports

Imports in ECOWAS

In 2022, whole fresh milk imports in ECOWAS expanded slightly to X tons, growing by X% against the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, whole fresh milk imports rose to $X in 2022. Total imports indicated a resilient expansion 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 2017 indices. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The countries with the highest levels of whole fresh milk imports in 2022 were Cabo Verde (X tons), Ghana (X tons), Senegal (X tons), Guinea (X tons), Mali (X tons), Gambia (X tons) and Cote d'Ivoire (X tons), together recording X% of total import.

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

In value terms, the largest whole fresh milk importing markets in ECOWAS were Senegal ($X), Cabo Verde ($X) and Ghana ($X), with a combined X% share of total imports. Guinea, Cote d'Ivoire, Mali and Gambia lagged somewhat behind, together comprising a further X%.

Guinea, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries 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, almost unchanged from the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per ton), while Cabo Verde ($X per ton) was amongst the lowest.

From 2012 to 2022, 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

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