Global Fonio Market Overview 2020

Fonio Market Size

In 2019, the global fonio market decreased by -X% to $X for the first time since 2014, thus ending a four-year rising trend. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2019: its value increased at an average annual rate of +X% over the last seven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +X% against 2012 indices. The most prominent rate of growth was recorded in 2018 when the market value increased by X% against the previous year. As a result, consumption reached the peak level of $X, and then fell significantly in the following year.

Fonio Production

In value terms, fonio production shrank rapidly to $X in 2019 estimated in export prices. In general, production continues to indicate buoyant growth. The growth pace was the most rapid in 2018 with an increase of X% y-o-y. As a result, production reached the peak level of $X, and then fell dramatically in the following year.

The country with the largest volume of fonio production was Guinea (X tonnes), comprising approx. X% of total volume. Moreover, fonio production in Guinea exceeded the figures recorded by the second-largest producer, Nigeria (X tonnes), sixfold. Mali (X tonnes) ranked third in terms of total production with a X% share.

From 2012 to 2019, the average annual rate of growth in terms of volume in Guinea totaled +X%. The remaining producing countries recorded the following average annual rates of production growth: Nigeria (+X% per year) and Mali (+X% per year).

The global average fonio yield shrank slightly to X kg per ha in 2019, dropping by -X% on the previous year's figure. Overall, the yield saw a perceptible decline. The growth pace was the most rapid in 2013 with an increase of X% year-to-year. As a result, the yield reached the peak level of X kg per ha. From 2014 to 2019, the growth of the average fonio yield failed to regain the momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The global fonio harvested area reached X ha in 2019, surging by X% against 2018. The harvested area increased at an average annual rate of +X% from 2012 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when the harvested area increased by X% y-o-y. The global harvested area peaked in 2019 and is expected to retain growth in the immediate term.

Production By Country

Guinea (X tonnes) constituted the country with the largest volume of fonio production, accounting for X% of total volume. Moreover, fonio production in Guinea exceeded the figures recorded by the second-largest producer, Nigeria (X tonnes), sixfold. The third position in this ranking was occupied by Mali (X tonnes), with a X% share.

In Guinea, fonio production expanded at an average annual rate of +X% over the period from 2012-2019. The remaining producing countries recorded the following average annual rates of production growth: Nigeria (+X% per year) and Mali (+X% per year).

Fonio Exports

Exports

In 2019, overseas shipments of fonio were finally on the rise to reach X tonnes for the first time since 2012, thus ending a six-year declining trend. Overall, exports, however, recorded a sharp shrinkage. Over the period under review, global exports reached the peak figure at X tonnes in 2012; however, from 2013 to 2019, exports stood at a somewhat lower figure.

In value terms, fonio exports skyrocketed to $X in 2019. Over the period under review, exports, however, saw a dramatic decline. Global exports peaked at $X in 2012; however, from 2013 to 2019, exports stood at a somewhat lower figure.

Exports by Country

Senegal was the key exporter of fonio in the world, with the volume of exports finishing at X tonnes, which was approx. X% of total exports in 2019. Burkina Faso (X tonnes) held the second position in the ranking, followed by Hungary (X tonnes), the Netherlands (X tonnes) and Mali (X tonnes). All these countries together took near X% share of total exports. Spain (X tonnes) took a little share of total exports.

Senegal was also the fastest-growing in terms of the fonio exports, with a CAGR of +X% from 2012 to 2019. At the same time, Burkina Faso (+X%) and Spain (+X%) displayed positive paces of growth. By contrast, Mali (-X%), Hungary (-X%) and the Netherlands (-X%) illustrated a downward trend over the same period. While the share of Senegal (+X p.p.), Burkina Faso (+X p.p.) and Spain (+X p.p.) increased significantly in terms of the global exports from 2012-2019, the share of Mali (-X p.p.), Hungary (-X p.p.) and the Netherlands (-X p.p.) displayed negative dynamics.

In value terms, Senegal ($X) emerged as the largest fonio supplier worldwide, comprising X% of global exports. The second position in the ranking was occupied by Mali ($X), with a X% share of global exports. It was followed by the Netherlands, with a X% share.

From 2012 to 2019, the average annual growth rate of value in Senegal amounted to +X%. The remaining exporting countries recorded the following average annual rates of exports growth: Mali (+X% per year) and the Netherlands (-X% per year).

Export Prices by Country

In 2019, the average fonio export price amounted to $X per tonne, surging by X% against the previous year. Overall, export price indicated a buoyant expansion from 2012 to 2019: its price increased at an average annual rate of +X% over the last seven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, fonio export price increased by +X% against 2014 indices. The most prominent rate of growth was recorded in 2015 an increase of X% y-o-y. Over the period under review, average export prices attained the maximum in 2019 and is expected to retain growth in the immediate term.

Prices varied noticeably by the country of origin; the country with the highest price was Mali ($X per tonne), while Hungary ($X per tonne) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was attained by Mali, while the other global leaders experienced more modest paces of growth.

Fonio Imports

Imports

In 2019, overseas purchases of fonio increased by X% to X tonnes, rising for the fourth consecutive year after three years of decline. In general, imports, however, continue to indicate a deep setback. Over the period under review, global imports attained the maximum at X tonnes in 2012; however, from 2013 to 2019, imports failed to regain the momentum.

In value terms, fonio imports expanded significantly to $X in 2019. Over the period under review, imports, however, showed a abrupt setback. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, global imports attained the peak figure at $X in 2012; however, from 2013 to 2019, imports remained at a lower figure.

Imports by Country

The Netherlands (X tonnes) and the UK (X tonnes) were the largest importers of fonio in 2019, amounting to near X% and X% of total imports, respectively. It was distantly followed by Congo (X tonnes), committing a X% share of total imports. Italy (X tonnes), Spain (X tonnes) and Malaysia (X tonnes) followed a long way behind the leaders.

From 2012 to 2019, the biggest increases were in the UK, while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constitutes the largest market for imported fonio worldwide, comprising X% of global imports. The second position in the ranking was occupied by the UK ($X), with a X% share of global imports. It was followed by Spain, with a X% share.

In the Netherlands, fonio imports increased at an average annual rate of +X% over the period from 2012-2019. In the other countries, the average annual rates were as follows: the UK (+X% per year) and Spain (+X% per year).

Import Prices by Country

The average fonio import price stood at $X per tonne in 2019, declining by -X% against the previous year. Overall, import price indicated a measured increase from 2012 to 2019: its price increased at an average annual rate of +X% over the last seven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per tonne. From 2016 to 2019, the growth in terms of the average import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major importing countries. In 2019, the country with the highest price was the Netherlands ($X per tonne), while Congo ($X per tonne) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was attained by Malaysia, while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for fonio in the world?

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The country with the largest volume of fonio consumption was Guinea (508K tonnes), accounting for 76% of total volume. Moreover, fonio consumption in Guinea exceeded the figures recorded by the second-largest consumer, Nigeria (85K tonnes), sixfold. Mali (28K tonnes) ranked third in terms of total consumption with a 4.2% share.

What are the largest producers of fonio in the world?

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Guinea (508K tonnes) constituted the country with the largest volume of fonio production, accounting for 76% of total volume. Moreover, fonio production in Guinea exceeded the figures recorded by the second-largest producer, Nigeria (85K tonnes), sixfold. The third position in this ranking was occupied by Mali (28K tonnes), with a 4.2% share.

What are the leading suppliers of fonio in the world?

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In value terms, Senegal ($289K) emerged as the largest fonio supplier worldwide, comprising 60% of global exports. The second position in the ranking was occupied by Mali ($56K), with a 12% share of global exports. It was followed by the Netherlands, with a 9.6% share.

What are the leading importers of fonio in the world?

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In value terms, the Netherlands ($1.4M) constitutes the largest market for imported fonio worldwide, comprising 61% of global imports. The second position in the ranking was occupied by the UK ($576K), with a 26% share of global imports. It was followed by Spain, with a 3.2% share.

What is the average export price for fonio in the world?

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In 2019, the average fonio export price amounted to $1,970 per tonne, picking up by 9.6% against the previous year.

What is the average import price for fonio in the world?

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The average fonio import price stood at $2,333 per tonne in 2019, shrinking by -6.7% against the previous year.