ECOWAS: Meat And Poultry Market 2024

Meat And Poultry Market Size in ECOWAS

In 2022, the ECOWAS meat and poultry market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The level of consumption peaked at $X in 2021, and then contracted slightly in the following year.

Meat And Poultry Production in ECOWAS

In value terms, meat and poultry production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Nigeria (X tons) remains the largest meat and poultry producing country in ECOWAS, accounting for X% of total volume. Moreover, meat and poultry production in Nigeria exceeded the figures recorded by the second-largest producer, Burkina Faso (X tons), twofold. Cote d'Ivoire (X tons) ranked third in terms of total production with an X% share.

In Nigeria, meat and poultry production increased at an average annual rate of X% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Burkina Faso (X% per year) and Cote d'Ivoire (X% per year).

The average meat and poultry yield reached X kg per head in 2022, approximately mirroring the previous year's figure. Over the period under review, the yield, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the yield increased by X%. As a result, the yield reached the peak level of X kg per head. From 2014 to 2022, the growth of the meat and poultry yield remained at a somewhat lower figure.

In 2022, number of animals slaughtered for meat and poultry production in ECOWAS declined to X heads, approximately equating 2021 figures. This number 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 most prominent rate of growth was recorded in 2016 when the number of producing animals increased by X%. Over the period under review, this number attained the peak level at X heads in 2021, and then fell slightly in the following year.

Meat And Poultry Exports

Exports in ECOWAS

In 2022, overseas shipments of meat and poultry decreased by X% to X tons, falling for the fourth consecutive year after two years of growth. Overall, exports saw a abrupt curtailment. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, meat and poultry exports shrank remarkably to $X in 2022. Over the period under review, exports recorded a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Liberia (X tons), Mali (X tons), Ghana (X tons), Togo (X tons) and Benin (X tons), together recording X% of total export. It was distantly followed by Nigeria (X tons), Cote d'Ivoire (X tons) and Guinea (X tons), together achieving an X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Mali ($X) and Ghana ($X) constituted the countries with the highest levels of exports in 2022, together accounting for X% of total exports. Liberia, Togo, Benin, Nigeria and Guinea lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Nigeria, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, shrinking by X% against the previous year. Overall, the export price saw a perceptible downturn. The growth pace was the most rapid in 2016 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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 Cote d'Ivoire ($X per ton), while Guinea ($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 more modest paces of growth.

Meat And Poultry Imports

Imports in ECOWAS

After five years of growth, overseas purchases of meat and poultry decreased by X% to X tons in 2022. In general, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2021, and then reduced slightly in the following year.

In value terms, meat and poultry imports contracted to $X in 2022. Overall, imports, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. The level of import peaked at $X in 2021, and then dropped in the following year.

Imports by Country

Ghana was the major importer of meat and poultry in ECOWAS, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. Benin (X tons) ranks second in terms of the total imports with a X% share, followed by Liberia (X%), Guinea (X%) and Sierra Leone (X%). Gambia (X tons) and Togo (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to meat and poultry imports into Ghana stood at X%. At the same time, Guinea (X%), Gambia (X%), Liberia (X%), Sierra Leone (X%) and Togo (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Benin (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Guinea, Liberia and Gambia increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported meat and poultry in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Benin ($X), with an X% share of total imports. It was followed by Guinea, with a X% share.

In Ghana, meat and poultry imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Benin (X% per year) and Guinea (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the import price saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Ghana ($X per ton) and Guinea ($X per ton), while Togo ($X per ton) and Liberia ($X per ton) were 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 import price figures.

Source: IndexBox Platform

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