Western Africa: Cereal Flour Market 2024

Cereal Flour Market Size in Western Africa

The West African cereal flour market expanded slightly to $X in 2023, surging by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Cereal Flour Production in Western Africa

In value terms, cereal flour production totaled $X in 2023 estimated in export price. The total production indicated noticeable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Cereal Flour Exports

Exports in Western Africa

After two years of decline, shipments abroad of cereal flours increased by X% to X tons in 2023. Over the period under review, exports, however, saw a pronounced contraction. The pace of growth was the most pronounced in 2018 when exports increased by X%. The volume of export peaked at X tons in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

In value terms, cereal flour exports surged to $X in 2023. Overall, exports, however, saw a mild slump. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Ghana (X tons) was the largest exporter of cereal flours, creating X% of total exports. It was distantly followed by Senegal (X tons), Togo (X tons) and Cote d'Ivoire (X tons), together mixing up a X% share of total exports.

Ghana was also the fastest-growing in terms of the cereal flours exports, with a CAGR of X% from 2012 to 2023. At the same time, Togo (X%) and Senegal (X%) displayed positive paces of growth. By contrast, Cote d'Ivoire (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.), Togo (X p.p.) and Senegal (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Cote d'Ivoire (X p.p.) displayed negative dynamics.

In value terms, Ghana ($X) remains the largest cereal flour supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Ghana stood at X%. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2023, the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Senegal ($X per ton) and Ghana ($X per ton), while Togo ($X per ton) and Cote d'Ivoire ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced mixed trends in the export price figures.

Cereal Flour Imports

Imports in Western Africa

After two years of decline, supplies from abroad of cereal flours increased by X% to X tons in 2023. Over the period under review, imports, however, continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2017 when imports increased by X%. The volume of import peaked at X tons in 2014; however, from 2015 to 2023, imports failed to regain momentum.

In value terms, cereal flour imports skyrocketed to $X in 2023. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of cereal flours, namely Ghana, Sierra Leone and Nigeria, represented more than half of total import. Benin (X tons) ranks next in terms of the total imports with a X% share, followed by Guinea-Bissau (X%), Mali (X%), Niger (X%) and Burkina Faso (X%).

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, Nigeria ($X) constitutes the largest market for imported cereal flours in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Sierra Leone ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

In Nigeria, cereal flour imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Sierra Leone (X% per year) and Ghana (X% per year).

Import Prices by Country

In 2023, the import price in Western Africa amounted to $X per ton, remaining constant against the previous year. Import price indicated a pronounced expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, cereal flour import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2022 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is likely to see steady growth in the immediate term.

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

Source: IndexBox Platform