Western Africa: Beef Market 2024

Beef Market Size in Western Africa

The West African beef market expanded slightly to $X in 2022, increasing 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 remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Beef Production in Western Africa

In value terms, beef production soared to $X in 2022 estimated in export price. Over the period under review, production recorded a strong increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

The country with the largest volume of beef production was Nigeria (X tons), accounting for X% of total volume. Moreover, beef production in Nigeria exceeded the figures recorded by the second-largest producer, Guinea (X tons), threefold. The third position in this ranking was taken by Burkina Faso (X tons), with a X% share.

In Nigeria, beef production expanded at an average annual rate of X% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Guinea (X% per year) and Burkina Faso (X% per year).

The average beef yield reached X kg per head in 2022, therefore, remained relatively stable against the previous year's figure. In general, the yield recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the yield increased by X% against the previous year. As a result, the yield reached the peak level of X kg per head. From 2014 to 2022, the growth of the beef yield remained at a somewhat lower figure.

The global number of animals slaughtered for beef production dropped modestly to X heads in 2022, approximately reflecting 2021 figures. This number 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 observed in certain years. The most prominent rate of growth was recorded in 2020 when the number of producing animals increased by X% against the previous year. Over the period under review, this number attained the maximum level at X heads in 2021, and then dropped slightly in the following year.

Beef Exports

Exports in Western Africa

In 2022, the amount of beef (cattle meat) exported in Western Africa fell notably to X tons, waning by X% on 2021. Overall, exports recorded a deep downturn. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, beef exports declined to $X in 2022. In general, exports showed a deep downturn. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Nigeria (X tons) and Cote d'Ivoire (X tons) were the major exporters of beef (cattle meat) in Western Africa, together generating X% of total exports. Senegal (X tons) ranks next in terms of the total exports with a X% share, followed by Mali (X%).

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest beef supplying countries in Western Africa were Senegal ($X), Cote d'Ivoire ($X) and Mali ($X), together accounting for X% of total exports. These countries were followed by Nigeria, which accounted for a further X%.

In terms of the main exporting countries, Nigeria, with a CAGR of X%, saw 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 2022, the export price in Western Africa amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price showed tangible growth. The growth pace was the most rapid in 2020 when the export price increased by X%. 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 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 Mali (X%), while the other leaders experienced more modest paces of growth.

Beef Imports

Imports in Western Africa

In 2022, approx. X tons of beef (cattle meat) were imported in Western Africa; surging by X% compared with the previous year. Over the period under review, imports recorded a measured increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, beef imports contracted to $X in 2022. Total imports indicated notable 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

Senegal (X tons) and Ghana (X tons) dominates imports structure, together comprising X% of total imports. The following importers - Sierra Leone (X tons), Liberia (X tons), Mali (X tons), Cabo Verde (X tons) and Cote d'Ivoire (X tons) - together made up X% of total imports.

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

In value terms, Ghana ($X), Senegal ($X) and Cabo Verde ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Mali, Liberia, Cote d'Ivoire and Sierra Leone lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Mali, with a CAGR of X%, recorded 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 Western Africa stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the import price saw a slight descent. The pace of growth appeared the most rapid in 2014 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

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 Cabo Verde ($X per ton), while Senegal ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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