Western Africa: Molasse Market 2024

Molasse Market Size in Western Africa

After two years of growth, the West African molasse market decreased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2021, and then reduced modestly in the following year.

Molasse Production in Western Africa

In value terms, molasse production amounted to $X in 2022 estimated in export price. The total production indicated a moderate 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, production decreased by X% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Molasse Exports

Exports in Western Africa

Molasse exports reduced to X tons in 2022, with a decrease of X% on the previous year. In general, exports continue to indicate a dramatic decline. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, molasse exports reduced to $X in 2022. Over the period under review, exports faced a sharp contraction. The growth pace was the most rapid in 2016 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Gambia (X tons) represented the main exporter of molasses, constituting X% of total exports. It was distantly followed by Senegal (X tons), comprising a X% share of total exports. Cote d'Ivoire (X tons) held a relatively small share of total exports.

Exports from Gambia increased at an average annual rate of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. Senegal experienced a relatively flat trend pattern. Gambia (X p.p.), Senegal (X p.p.) and Cote d'Ivoire (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, Gambia ($X) remains the largest molasse supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Senegal ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Gambia stood at X%. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, flattening at the previous year. Overall, the export price continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 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 Cote d'Ivoire ($X per ton), while Gambia ($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 more modest paces of growth.

Molasse Imports

Imports in Western Africa

In 2022, approx. X tons of molasses were imported in Western Africa; increasing by X% against 2021 figures. In general, imports saw a mild increase. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, molasse imports contracted to $X in 2022. Over the period under review, imports posted perceptible growth. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Burkina Faso was the largest importer of molasses in Western Africa, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. It was distantly followed by Mauritania (X tons), Guinea-Bissau (X tons) and Sierra Leone (X tons), together comprising a X% share of total imports. The following importers - Guinea (X tons), Cote d'Ivoire (X tons) and Gambia (X tons) - each accounted for a X% share of total imports.

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

In value terms, Sierra Leone ($X), Guinea ($X) and Mauritania ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Among the main importing countries, Guinea, with a CAGR of X%, saw the highest rates of growth with regard to 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, which is down by X% against the previous year. In general, the import price, however, recorded slight growth. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2020; however, from 2021 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 Sierra Leone ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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