Western Africa: Market for Lucerne (Alfalfa) Meal And Pellets 2024

Market Size for Lucerne (Alfalfa) Meal And Pellets in Western Africa

The West African lucerne meal and pellets market rose slightly to $X in 2023, increasing by X% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.

Production of Lucerne (Alfalfa) Meal And Pellets in Western Africa

In value terms, lucerne meal and pellets production rose to $X in 2023 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2023, production failed to regain momentum.

Exports of Lucerne (Alfalfa) Meal And Pellets

Exports in Western Africa

After four years of growth, shipments abroad of lucerne (alfalfa) meal and pellets decreased by X% to X tons in 2022. Over the period under review, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, lucerne meal and pellets exports contracted remarkably to $X in 2022. In general, exports, however, posted buoyant growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then declined notably in the following year.

Exports by Country

The biggest shipments were from Niger (X tons), together finishing at X% of total export.

Niger was also the fastest-growing in terms of the lucerne (alfalfa) meal and pellets exports, with a CAGR of X% from 2013 to 2022. Niger (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Niger ($X) also remains the largest lucerne meal and pellets supplier in Western Africa.

From 2013 to 2022, the average annual growth rate of value in Niger stood at X%.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the export price, however, posted a significant expansion. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Niger.

From 2013 to 2022, the rate of growth in terms of prices for Niger amounted to X% per year.

Imports of Lucerne (Alfalfa) Meal And Pellets

Imports in Western Africa

In 2023, the amount of lucerne (alfalfa) meal and pellets imported in Western Africa shrank remarkably to X tons, which is down by X% compared with the previous year's figure. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by X%. As a result, imports attained the peak of X tons. From 2014 to 2023, the growth of imports remained at a lower figure.

In value terms, lucerne meal and pellets imports shrank rapidly to $X in 2023. Over the period under review, imports, however, enjoyed temperate growth. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2023, Cabo Verde (X tons) and Nigeria (X tons) were the major importers of lucerne (alfalfa) meal and pellets in Western Africa, together achieving X% of total imports. It was distantly followed by Senegal (X tons) and Mauritania (X tons), together making up a X% share of total imports. Cote d'Ivoire (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Senegal (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Nigeria ($X), Cabo Verde ($X) and Senegal ($X) constituted the countries with the highest levels of imports in 2023, together comprising X% of total imports.

Senegal, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Western Africa amounted to $X per ton, growing by X% against the previous year. Import price indicated a perceptible increase 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, lucerne meal and pellets import price decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The level of import peaked at $X per ton in 2021; however, from 2022 to 2023, import prices failed to regain momentum.

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 Cote d'Ivoire ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform