Western Africa: Frozen Whole Fish Market 2024

Frozen Whole Fish Market Size in Western Africa

The West African frozen whole fish market fell slightly to $X in 2023, remaining constant against the previous year. The total consumption indicated a modest increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2023, consumption remained at a lower figure.

Frozen Whole Fish Production in Western Africa

In value terms, frozen whole fish production amounted to $X in 2023 estimated in export price. Overall, production posted a buoyant expansion. The pace of growth was the most pronounced in 2018 with an increase of X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Frozen Whole Fish Exports

Exports in Western Africa

In 2023, overseas shipments of frozen whole fish increased by X% to X tons, rising for the second year in a row after two years of decline. Total exports indicated a remarkable increase from 2012 to 2023: its volume 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, exports increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

In value terms, frozen whole fish exports contracted slightly to $X in 2023. Total exports indicated a prominent expansion 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, exports increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Mauritania was the key exporter of frozen whole fish in Western Africa, with the volume of exports amounting to X tons, which was near X% of total exports in 2023. Senegal (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Guinea (X%). Ghana (X tons), Guinea-Bissau (X tons) and Sierra Leone (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Sierra Leone (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mauritania ($X), Senegal ($X) and Guinea ($X) appeared to be the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Ghana, Guinea-Bissau and Sierra Leone lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Sierra Leone, with a CAGR of X%, recorded 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

In 2023, the export price in Western Africa amounted to $X per ton, declining by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The growth pace was the most rapid in 2013 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Sierra Leone ($X per ton) was amongst the lowest.

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

Frozen Whole Fish Imports

Imports in Western Africa

In 2023, after three years of decline, there was significant growth in purchases abroad of frozen whole fish, when their volume increased by X% to X tons. Total imports indicated a strong increase from 2012 to 2023: its volume 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. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in the immediate term.

In value terms, frozen whole fish imports declined slightly to $X in 2023. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of import peaked at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Cote d'Ivoire (X tons) represented the major importer of frozen whole fish, committing X% of total imports. Nigeria (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Burkina Faso (X%), Ghana (X%), Benin (X%) and Mali (X%). Togo (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to frozen whole fish imports into Cote d'Ivoire stood at X%. At the same time, Burkina Faso (X%), Mali (X%), Ghana (X%), Togo (X%) and Benin (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. By contrast, Nigeria (X%) illustrated a downward trend over the same period. Burkina Faso (X p.p.), Cote d'Ivoire (X p.p.) and Mali (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X), Nigeria ($X) and Ghana ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Benin, Mali, Togo and Burkina Faso 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 2023, which is down by X% against the previous year. In general, the import price showed a noticeable decrease. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, 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 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 Benin (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform