ECOWAS: Dry Bean Market 2024

Dry Bean Market Size in ECOWAS

The ECOWAS dry bean market contracted modestly to $X in 2023, stabilizing at the previous year. Overall, consumption recorded a pronounced downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Dry Bean Production in ECOWAS

In value terms, dry bean production contracted slightly to $X in 2023 estimated in export price. Overall, production faced a dramatic decline. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

The countries with the highest volumes of production in 2023 were Nigeria (X tons), Niger (X tons) and Burkina Faso (X tons), together comprising X% of total production. Ghana, Mali, Togo and Senegal lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Senegal (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

In 2023, the average yield of beans (dry) in ECOWAS contracted to X kg per ha, which is down by X% compared with the previous year. Over the period under review, the yield showed a slight decline. The pace of growth appeared the most rapid in 2016 with an increase of X%. The level of yield peaked at X kg per ha in 2012; however, from 2013 to 2023, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The dry bean harvested area fell slightly to X ha in 2023, declining by X% on 2022. The harvested area increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to dry bean production attained the maximum at X ha in 2022, and then declined modestly in the following year.

Dry Bean Exports

Exports in ECOWAS

Dry bean exports soared to X tons in 2023, jumping by X% against the year before. Overall, exports showed a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, dry bean exports surged to $X in 2023. Over the period under review, exports showed prominent growth. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

Exports by Country

Niger (X tons) and Benin (X tons) dominates exports structure, together constituting X% of total exports. Nigeria (X tons) held a relatively small share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Nigeria (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Niger ($X) remains the largest dry bean supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Benin ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Niger totaled X%. In the other countries, the average annual rates were as follows: Benin (X% per year) and Nigeria (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, waning by X% against the previous year. In general, the export price recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2013 an increase of X%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2023, 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 Nigeria ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Benin (X%), while the other leaders experienced mixed trends in the export price figures.

Dry Bean Imports

Imports in ECOWAS

In 2023, the amount of beans (dry) imported in ECOWAS expanded to X tons, growing by X% against the previous year's figure. In general, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The volume of import peaked in 2023 and is likely to continue growth in the near future.

In value terms, dry bean imports soared to $X in 2023. Over the period under review, imports showed a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports hit record highs in 2023 and are likely to see steady growth in the near future.

Imports by Country

In 2023, Guinea (X tons), distantly followed by Senegal (X tons), Nigeria (X tons), Togo (X tons), Cabo Verde (X tons) and Benin (X tons) were the largest importers of beans (dry), together committing X% of total imports. Ghana (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Guinea (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Cabo Verde ($X) and Guinea ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

Guinea, with a CAGR of X%, saw 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

The import price in ECOWAS stood at $X per ton in 2023, picking up by X% against the previous year. Over the period under review, the import price, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2016 when the import price increased by X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform