Western Africa: Cream Fresh Market 2024

Cream Fresh Market Size in Western Africa

In 2022, the West African cream fresh market decreased by X% to $X for the first time since 2016, thus ending a five-year rising trend. Over the period under review, consumption, however, posted a perceptible increase. Over the period under review, the market hit record highs at $X in 2021, and then contracted remarkably in the following year.

Cream Fresh Production in Western Africa

In value terms, cream fresh production shrank to $X in 2022 estimated in export price. In general, production, however, saw a noticeable contraction. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Nigeria (X tons) remains the largest cream fresh producing country in Western Africa, comprising approx. X% of total volume.

From 2012 to 2022, the average annual rate of growth in terms of volume in Nigeria amounted to X%.

Cream Fresh Exports

Exports in Western Africa

In 2022, the amount of cream fresh exported in Western Africa skyrocketed to X tons, increasing by X% compared with 2021 figures. Overall, exports, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, cream fresh exports surged to $X in 2022. In general, exports, however, saw a abrupt setback. The pace of growth was the most pronounced in 2016 with an increase of X%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Nigeria (X tons) represented the major exporter of cream fresh, mixing up X% of total exports. Sierra Leone (X tons) ranks second in terms of the total exports with a X% share, followed by Togo (X%). Ghana (X kg) held a relatively small share of total exports.

Exports from Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Sierra Leone (X%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) and Togo (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.) and Sierra Leone (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Togo (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest cream fresh supplying countries in Western Africa were Sierra Leone ($X), Nigeria ($X) and Ghana ($X), with a combined X% share of total exports.

Sierra Leone, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, reducing by X% against the previous year. Overall, the export price recorded a noticeable downturn. The pace of growth was the most pronounced in 2016 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 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 Ghana ($X per ton), while Togo ($X per ton) was amongst the lowest.

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

Cream Fresh Imports

Imports in Western Africa

In 2022, the amount of cream fresh imported in Western Africa plummeted to X tons, dropping by X% on 2021. Over the period under review, imports, however, continue to indicate a modest expansion. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then contracted rapidly in the following year.

In value terms, cream fresh imports fell remarkably to $X in 2022. In general, imports, however, continue to indicate a pronounced increase. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. The level of import peaked at $X in 2021, and then plummeted in the following year.

Imports by Country

The countries with the highest levels of cream fresh imports in 2022 were Mali (X tons), Senegal (X tons) and Cote d'Ivoire (X tons), together finishing at X% of total import. Cabo Verde (X tons) held the next position in the ranking, followed by Guinea-Bissau (X tons), Mauritania (X tons), Ghana (X tons), Togo (X tons) and Guinea (X tons). All these countries together took near X% share of total imports.

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

In value terms, the largest cream fresh importing markets in Western Africa were Senegal ($X), Cote d'Ivoire ($X) and Mali ($X), with a combined X% share of total imports. Cabo Verde, Ghana, Guinea, Guinea-Bissau, Togo and Mauritania lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Guinea, with a CAGR of X%, saw 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

In 2022, the import price in Western Africa amounted to $X per ton, surging by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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