Western Africa: Margarine And Shortening Market 2024

Margarine And Shortening Market Size in Western Africa

In 2022, the West African margarine and shortening market decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, consumption, however, posted temperate growth. As a result, consumption attained the peak level of $X, and then declined sharply in the following year.

Margarine And Shortening Production in Western Africa

In value terms, margarine and shortening production shrank to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Margarine And Shortening Exports

Exports in Western Africa

In 2022, shipments abroad of margarine and shortening was finally on the rise to reach X tons for the first time since 2016, thus ending a five-year declining trend. Overall, exports, however, showed a pronounced shrinkage. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, margarine and shortening exports surged to $X in 2022. In general, exports, however, saw a perceptible setback. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire represented the largest exporter of margarine and shortening in Western Africa, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. Senegal (X tons) took the second position in the ranking, distantly followed by Ghana (X tons). All these countries together held near X% share of total exports. The following exporters - Togo (X tons) and Benin (X tons) - each reached a X% share of total exports.

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

In value terms, Senegal ($X), Cote d'Ivoire ($X) and Ghana ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Senegal, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, waning by X% against the previous year. Overall, the export price recorded a slight downturn. The most prominent rate of growth was recorded in 2016 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2021, and then fell sharply in the following year.

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 Senegal ($X per ton), while Benin ($X per ton) was amongst the lowest.

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

Margarine And Shortening Imports

Imports in Western Africa

In 2022, overseas purchases of margarine and shortening decreased by X% to X tons for the first time since 2015, thus ending a six-year rising trend. Over the period under review, imports, however, recorded a notable expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of X tons, and then contracted dramatically in the following year.

In value terms, margarine and shortening imports contracted sharply to $X in 2022. In general, imports, however, saw moderate growth. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then contracted rapidly in the following year.

Imports by Country

In 2022, Ghana (X tons) was the major importer of margarine and shortening, committing X% of total imports. It was distantly followed by Nigeria (X tons) and Guinea (X tons), together mixing up a X% share of total imports. The following importers - Gambia (X tons), Burkina Faso (X tons), Sierra Leone (X tons), Cote d'Ivoire (X tons), Senegal (X tons), Liberia (X tons) and Cabo Verde (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to margarine and shortening imports into Ghana stood at X%. At the same time, Guinea (X%), Burkina Faso (X%), Cote d'Ivoire (X%), Sierra Leone (X%), Gambia (X%) and Liberia (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. Cabo Verde experienced a relatively flat trend pattern. By contrast, Nigeria (X%) and Senegal (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Guinea and Burkina Faso 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, Ghana ($X) constitutes the largest market for imported margarine and shortening in Western Africa, comprising X% of total imports. The second position in the ranking was held by Nigeria ($X), with an X% share of total imports. It was followed by Guinea, with a X% share.

In Ghana, margarine and shortening imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (X% per year) and Guinea (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the 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 Cabo Verde ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :