Western Africa: Phosphate Rock Market 2022

Phosphate Rock Market Size in Western Africa

The West African phosphate rock market was estimated at $X in 2020, surging by X% against the previous year. Over the period under review, consumption posted a remarkable increase. The pace of growth was the most pronounced in 2016 when the market value increased by X% year-to-year. The level of consumption peaked in 2020 and is likely to see steady growth in years to come.

Phosphate Rock Production in Western Africa

In value terms, phosphate rock production contracted slightly to $X in 2020 estimated in export prices. The total output value increased at an average annual rate of +X% from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2008 when the production volume increased by X% year-to-year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2020, production failed to regain the momentum.

Production By Country in Western Africa

The countries with the highest volumes of phosphate rock production in 2020 were Senegal (X tons) and Togo (X tons).

From 2007 to 2020, the biggest increases were in Senegal.

Phosphate Rock Exports

Exports in Western Africa

In 2020, shipments abroad of phosphate rock increased by X% to X tons, rising for the third consecutive year after five years of decline. Overall, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2011 with an increase of X% against the previous year. Over the period under review, exports hit record highs at X tons in 2012; however, from 2013 to 2020, exports failed to regain the momentum.

In value terms, phosphate rock exports skyrocketed to $X in 2020. Over the period under review, exports recorded a resilient increase. The pace of growth was the most pronounced in 2008 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2020, exports failed to regain the momentum.

Exports by Country

Togo was the largest exporting country with an export of about X tons, which recorded X% of total exports. It was distantly followed by Senegal (X tons), generating a X% share of total exports.

From 2007 to 2020, average annual rates of growth with regard to phosphate rock exports from Togo stood at +X%. At the same time, Senegal (+X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +X% from 2007-2020. Senegal (+X p.p.) significantly strengthened its position in terms of the total exports, while Togo saw its share reduced by -X% from 2007 to 2020, respectively.

In value terms, Togo ($X) remains the largest phosphate rock supplier in Western Africa, comprising X% of total exports. The second position in the ranking was occupied by Senegal ($X), with a X% share of total exports.

In Togo, phosphate rock exports expanded at an average annual rate of +X% over the period from 2007-2020.

Export Prices by Country

The phosphate rock export price in Western Africa stood at $X per ton in 2020, shrinking by -X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2008 when the export price increased by X% year-to-year. As a result, export price reached the peak level of $X per ton. from 2009 to 2020, the growth in terms of the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2020, the country with the highest price was Togo ($X per ton), while Senegal amounted to $X per ton.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Togo.

Phosphate Rock Imports

Imports in Western Africa

In 2020, the amount of phosphate rock imported in Western Africa dropped to X tons, shrinking by -X% compared with the year before. Over the period under review, imports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2016 when imports increased by X% y-o-y. The volume of import peaked at X tons in 2017; however, from 2018 to 2020, imports remained at a lower figure.

In value terms, phosphate rock imports stood at $X in 2020. Total imports indicated a resilient increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2018 indices. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2020, imports failed to regain the momentum.

Imports by Country

Mali was the key importing country with an import of around X tons, which reached X% of total imports. It was distantly followed by Benin (X tons), Senegal (X tons) and Cote d'Ivoire (X tons), together creating a X% share of total imports. Sierra Leone (X tons) followed a long way behind the leaders.

From 2007 to 2020, average annual rates of growth with regard to phosphate rock imports into Mali stood at +X%. At the same time, Benin (+X%) and Senegal (+X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +X% from 2007-2020. By contrast, Sierra Leone (-X%) and Cote d'Ivoire (-X%) illustrated a downward trend over the same period. From 2007 to 2020, the share of Mali, Benin and Senegal increased by +X%, +X% and +X% percentage points, while Sierra Leone (-X p.p.) and Cote d'Ivoire (-X p.p.) saw their share reduced.

In value terms, the largest phosphate rock importing markets in Western Africa were Benin ($X), Mali ($X) and Senegal ($X), with a combined X% share of total imports.

Benin (+X% per year) 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 2020, the phosphate rock import price in Western Africa amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price, however, recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2008 when the import price increased by X% y-o-y. As a result, import price attained the peak level of $X per ton. from 2009 to 2020, the growth in terms of the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was Benin ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire, while the other leaders experienced a decline in the import price figures.

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Source: IndexBox Platform