Western Africa: Grain Market 2024

Grain Market Size in Western Africa

After four years of growth, the West African grain market decreased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2021, and then declined modestly in the following year.

Grain Production in Western Africa

In value terms, grain production reduced modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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

From 2012 to 2022, the average annual growth rate of volume in Nigeria totaled X%. In the other countries, the average annual rates were as follows: Mali (X% per year) and Burkina Faso (X% per year).

In 2022, the average yield of cereal grains in Western Africa reached X tons per ha, approximately reflecting the year before. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the yield increased by X% against the previous year. Over the period under review, the grain yield attained the peak level at X tons per ha in 2020; afterwards, it flattened through to 2022. 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 cereal grains production in Western Africa fell to X ha, approximately equating the previous year. 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 only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to grain production reached the peak figure at X ha in 2018; however, from 2019 to 2022, the harvested area remained at a lower figure.

Grain Exports

Exports in Western Africa

In 2022, approx. X tons of cereal grains were exported in Western Africa; picking up by X% on the previous year's figure. In general, exports, however, showed a mild contraction. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, grain exports totaled $X in 2022. Over the period under review, exports, however, saw a slight contraction. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire was the largest exporting country with an export of around X tons, which finished at X% of total exports. Liberia (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Burkina Faso (X%) and Senegal (X%). Benin (X tons), Niger (X tons) and Mali (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to grain exports from Cote d'Ivoire stood at X%. At the same time, Niger (X%), Senegal (X%), Mali (X%), Liberia (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Benin (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cote d'Ivoire, Liberia, Senegal, Burkina Faso and Niger increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest grain supplying countries in Western Africa were Senegal ($X), Cote d'Ivoire ($X) and Liberia ($X), with a combined X% share of total exports. Burkina Faso, Mali, Niger and Benin lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Niger, 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, declining by X% against the previous year. In general, the export price, however, continues to indicate 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 reached the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mali ($X per ton), while Burkina Faso ($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 mixed trends in the export price figures.

Grain Imports

Imports in Western Africa

In 2022, supplies from abroad of cereal grains increased by X% to X tons, rising for the third consecutive year after two years of decline. Total imports indicated noticeable growth from 2012 to 2022: its volume 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 2019 indices. The growth pace was the most rapid in 2017 with an increase of X%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, grain imports dropped slightly to $X in 2022. Overall, imports enjoyed a strong increase. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, imports hit record highs at $X in 2021, and then shrank modestly in the following year.

Imports by Country

Nigeria was the main importing country with an import of around X tons, which resulted at X% of total imports. Senegal (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (X%), Mauritania (X%), Cote d'Ivoire (X%), Guinea (X%) and Mali (X%).

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Guinea (X%), Mali (X%), Senegal (X%), Ghana (X%), Mauritania (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. While the share of Guinea (X p.p.), Mali (X p.p.) and Senegal (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cote d'Ivoire (X p.p.) and Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported cereal grains in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Senegal ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with an X% share.

In Nigeria, grain imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2021, and then shrank in the following year.

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

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

Source: IndexBox Platform

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