Western Africa: Maize Market 2024

Maize Market Size in Western Africa

The West African maize market contracted modestly to $X in 2022, declining by X% against the previous year. The total consumption indicated a noticeable increase from 2012 to 2022: its value 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, consumption increased by X% against 2012 indices. Over the period under review, the market attained the peak level at $X in 2021, and then declined slightly in the following year.

Maize Production in Western Africa

In value terms, maize production declined slightly to $X in 2022 estimated in export price. The total production indicated a tangible increase from 2012 to 2022: its value 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, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Nigeria (X tons) remains the largest maize producing country in Western Africa, comprising approx. X% of total volume. Moreover, maize production in Nigeria exceeded the figures recorded by the second-largest producer, Mali (X tons), fourfold. The third position in this ranking was taken by Ghana (X tons), with a X% share.

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

In 2022, the average yield of maize in Western Africa expanded modestly to X tons per ha, with an increase of X% on 2021 figures. The yield figure 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 was the most pronounced in 2020 when the yield increased by X% against the previous year. As a result, the yield reached the peak level of X tons per ha; 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, approx. X ha of maize were harvested in Western Africa; waning by X% compared with 2021. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to maize production attained the maximum at X ha in 2019; however, from 2020 to 2022, the harvested area stood at a somewhat lower figure.

Maize Exports

Exports in Western Africa

In 2022, approx. X tons of maize were exported in Western Africa; with an increase of X% against the year before. Over the period under review, exports, however, saw a slight decrease. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, maize exports expanded sharply to $X in 2022. Overall, exports, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire prevails in exports structure, resulting at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Benin (X tons), generating a X% share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the maize exports, with a CAGR of X% from 2012 to 2022. Benin (X%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Benin (X p.p.) displayed negative dynamics.

In value terms, Cote d'Ivoire ($X) remains the largest maize supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Benin ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire totaled X%.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, approximately equating the previous year. Overall, the export price, however, showed a abrupt decrease. The pace of growth was the most pronounced in 2015 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 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 Benin ($X per ton), while Cote d'Ivoire amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%).

Maize Imports

Imports in Western Africa

In 2022, overseas purchases of maize increased by X% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated a tangible expansion 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 2020 indices. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, maize imports soared to $X in 2022. Total imports indicated a notable expansion from 2012 to 2022: its value 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 pace of growth appeared the most rapid in 2017 when imports increased by X%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Senegal dominates imports structure, resulting at X tons, which was near X% of total imports in 2022. It was distantly followed by Cote d'Ivoire (X tons), Ghana (X tons), Mauritania (X tons) and Cabo Verde (X tons), together comprising a X% share of total imports. Niger (X tons) followed a long way behind the leaders.

Imports into Senegal increased at an average annual rate of X% from 2012 to 2022. At the same time, Mauritania (X%), Cote d'Ivoire (X%) and Cabo Verde (X%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) and Niger (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Senegal, Mauritania and Cote d'Ivoire increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

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

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, increasing by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by X%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Niger ($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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