Western Africa: Bigeye Tuna Market 2022

Bigeye Tuna Market Size in Western Africa

In 2020, the West African bigeye tuna market decreased by -X% to $X, falling for the second year in a row after two years of growth. In general, consumption showed a remarkable increase. The growth pace was the most rapid in 2009 when the market value increased by X% y-o-y. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2020, consumption remained at a lower figure.

Bigeye Tuna Production in Western Africa

In value terms, bigeye tuna production contracted markedly to $X in 2020 estimated in export prices. The total production indicated a tangible expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, production increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2019 with an increase of X% y-o-y. As a result, production attained the peak level of $X, and then declined significantly in the following year.

Production By Country in Western Africa

Senegal (X tons) remains the largest bigeye tuna producing country in Western Africa, comprising approx. X% of total volume. Moreover, bigeye tuna production in Senegal exceeded the figures recorded by the second-largest producer, Ghana (X tons), threefold. Mauritania (X tons) ranked third in terms of total production with a X% share.

In Senegal, bigeye tuna production increased at an average annual rate of +X% over the period from 2007-2020. In the other countries, the average annual rates were as follows: Ghana (+X% per year) and Mauritania (+X% per year).

Bigeye Tuna Exports

Exports in Western Africa

Bigeye tuna exports declined sharply to X tons in 2020, which is down by -X% on 2019. Over the period under review, exports, however, continue to indicate a notable expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% year-to-year. As a result, exports reached the peak of X tons, and then declined remarkably in the following year.

In value terms, bigeye tuna exports declined markedly to $X in 2020. In general, exports, however, continue to indicate moderate growth. The pace of growth was the most pronounced in 2019 with an increase of X% year-to-year. As a result, exports reached the peak of $X, and then fell dramatically in the following year.

Exports by Country

In 2020, Cabo Verde (X tons) represented the main exporter of bigeye tuna, achieving X% of total exports. It was distantly followed by Cote d'Ivoire (X tons), Ghana (X tons) and Senegal (X tons), together mixing up a X% share of total exports. Liberia (X tons) held a little share of total exports.

From 2007 to 2020, the biggest increases were in Liberia (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest bigeye tuna supplying countries in Western Africa were Cabo Verde ($X), Cote d'Ivoire ($X) and Ghana ($X), with a combined X% share of total exports. Senegal and Liberia lagged somewhat behind, together accounting for a further X terms of the main exporting countries, Liberia saw the highest growth rate of 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

The bigeye tuna export price in Western Africa stood at $X per ton in 2020, which is down by -X% against the previous year. Over the period under review, the export price showed a perceptible decrease. The pace of growth was the most pronounced in 2016 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2020, export prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Senegal ($X per ton), while Liberia ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire, while the other leaders experienced a decline in the export price figures.

Bigeye Tuna Imports

Imports in Western Africa

Bigeye tuna imports shrank rapidly to X tons in 2020, reducing by -X% against the previous year's figure. Overall, imports, however, showed a prominent increase. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then dropped sharply in the following year.

In value terms, bigeye tuna imports contracted markedly to $X in 2020. In general, imports, however, showed a temperate increase. The pace of growth appeared the most rapid in 2017 with an increase of X% y-o-y. Over the period under review, imports attained the peak figure at $X in 2019, and then contracted markedly in the following year.

Imports by Country

In 2020, Cabo Verde (X tons) represented the key importer of bigeye tuna, constituting X% of total imports. Cote d'Ivoire (X tons) took the second position in the ranking, distantly followed by Ghana (X tons). All these countries together occupied approx. X% share of total imports.

Cabo Verde was also the fastest-growing in terms of the bigeye tuna imports, with a CAGR of +X% from 2007 to 2020. At the same time, Cote d'Ivoire (+X%) displayed positive paces of growth. By contrast, Ghana (-X%) illustrated a downward trend over the same period. Cabo Verde (+X p.p.) significantly strengthened its position in terms of the total imports, while Cote d'Ivoire and Ghana saw its share reduced by -X% and -X% from 2007 to 2020, respectively.

In value terms, Cabo Verde ($X) constitutes the largest market for imported bigeye tuna in Western Africa, comprising X% of total imports. The second position in the ranking was occupied by Cote d'Ivoire ($X), with a X% share of total imports.

In Cabo Verde, bigeye tuna imports increased at an average annual rate of +X% over the period from 2007-2020. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+X% per year) and Ghana (-X% per year).

Import Prices by Country

In 2020, the bigeye tuna import price in Western Africa amounted to $X per ton, waning by -X% against the previous year. In general, the import price saw a perceptible slump. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2020, import prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Cabo Verde ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire, while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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