Western Africa: Spice Market 2024

Spice Market Size in Western Africa

After two years of growth, the West African spice market decreased by X% to $X in 2022. The total consumption indicated a slight 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. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Spice Production in Western Africa

In value terms, spice production expanded markedly to $X in 2022 estimated in export price. In general, production recorded a abrupt contraction. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Nigeria (X tons) remains the largest spice producing country in Western Africa, comprising approx. X% of total volume. Moreover, spice production in Nigeria exceeded the figures recorded by the second-largest producer, Cote d'Ivoire (X tons), sixfold. Benin (X tons) ranked third in terms of total production with a X% share.

In Nigeria, spice production 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 Benin (X% per year).

The average spice yield was estimated at X tons per ha in 2022, therefore, remained relatively stable against 2021. The yield figure 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. The pace of growth was the most pronounced in 2016 when the yield increased by X% against the previous year. Over the period under review, the spice yield hit record highs at X tons per ha in 2017; however, from 2018 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The spice harvested area shrank slightly to X ha in 2022, which is down by X% against the year before. The harvested area 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 throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the harvested area increased by X% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2019 to 2022, the growth of the spice harvested area remained at a somewhat lower figure.

Spice Exports

Exports in Western Africa

In 2022, the amount of spices exported in Western Africa surged to X tons, increasing by X% compared with the previous year's figure. In general, exports continue to indicate a tangible expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, spice exports surged to $X in 2022. Overall, exports, however, showed a perceptible decrease. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Nigeria was the main exporter of spices in Western Africa, with the volume of exports amounting to X tons, which was near X% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X tons), achieving a X% share of total exports. Ghana (X tons) followed a long way behind the leaders.

Exports from Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%) and Ghana (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. While the share of Cote d'Ivoire (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, declining by X% against the previous year. Overall, the export price continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2020 when the export price increased by X% against the previous year. 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 failed to regain momentum.

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 Ghana ($X per ton), while Cote d'Ivoire ($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 a decline in the export price figures.

Spice Imports

Imports in Western Africa

In 2022, imports of spices in Western Africa surged to X tons, rising by X% compared with the year before. Overall, imports continue to indicate prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, spice imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria was the main importer of spices in Western Africa, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. Senegal (X tons) took the second position in the ranking, followed by Ghana (X tons), Mali (X tons) and Mauritania (X tons). All these countries together held approx. X% share of total imports. Burkina Faso (X tons) and Cote d'Ivoire (X tons) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Mauritania (X%), Mali (X%), Burkina Faso (X%), Ghana (X%), Cote d'Ivoire (X%) and Senegal (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. From 2012 to 2022, the share of Mauritania, Mali and Ghana increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

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

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the import price continues to indicate a perceptible descent. The pace of growth was the most pronounced in 2014 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 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 Ghana ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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