Western Africa: Potassic Fertilizer Market 2024

Potassic Fertilizer Market Size in Western Africa

The West African potassic fertilizer market dropped markedly to $X in 2022, falling by X% against the previous year. Overall, consumption, however, continues to indicate a deep slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Potassic Fertilizer Production in Western Africa

In value terms, potassic fertilizer production rose significantly to $X in 2022 estimated in export price. Overall, production, however, saw a notable expansion. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

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Potassic Fertilizer Exports

Exports in Western Africa

In 2022, overseas shipments of potassic fertilizers increased by X% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports, however, showed a pronounced reduction. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, potassic fertilizer exports skyrocketed to $X in 2022. Overall, exports, however, recorded a abrupt decrease. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria was the main exporter of potassic fertilizers in Western Africa, with the volume of exports accounting for X tons, which was near X% of total exports in 2022. Cote d'Ivoire (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Togo (X%). The following exporters - Ghana (X tons) and Senegal (X tons) - each finished at a X% share of total exports.

Nigeria was also the fastest-growing in terms of the potassic fertilizers exports, with a CAGR of X% from 2012 to 2022. At the same time, Senegal (X%), Ghana (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. By contrast, Togo (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.), Cote d'Ivoire (X p.p.), Togo (X p.p.), Ghana (X p.p.) and Senegal (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) emerged as the largest potassic fertilizer supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total exports. It was followed by Togo, with a X% share.

In Nigeria, potassic fertilizer exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (X% per year) and Togo (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, which is down by X% against the previous year. In general, the export price recorded a abrupt decrease. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Ghana ($X per ton) was amongst the lowest.

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

Potassic Fertilizer Imports

Imports in Western Africa

In 2022, approx. X tons of potassic fertilizers were imported in Western Africa; rising by X% on 2021 figures. Overall, imports saw a buoyant expansion. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, potassic fertilizer imports surged to $X in 2022. In general, imports showed a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Cote d'Ivoire (X tons) represented the main importer of potassic fertilizers, achieving X% of total imports. Mali (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (X%), Ghana (X%) and Nigeria (X%). Liberia (X tons) followed a long way behind the leaders.

Imports into Cote d'Ivoire increased at an average annual rate of X% from 2012 to 2022. At the same time, Liberia (X%), Senegal (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Mali experienced a relatively flat trend pattern. By contrast, Nigeria (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.), Senegal (X p.p.), Ghana (X p.p.) and Liberia (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria and Mali saw its share reduced by X% and X% from 2012 to 2022, respectively.

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

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Senegal (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the import price recorded a tangible increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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