ECOWAS: Mixed Fertilizer Market 2024

Mixed Fertilizer Market Size in ECOWAS

The ECOWAS mixed fertilizer market rose remarkably to $X in 2022, surging by X% against the previous year. The total consumption indicated a prominent 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. Based on 2022 figures, consumption increased by X% against 2017 indices. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in years to come.

Mixed Fertilizer Production in ECOWAS

In value terms, mixed fertilizer production reached $X in 2022 estimated in export price. The total production indicated pronounced growth 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. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Mixed Fertilizer Exports

Exports in ECOWAS

For the third year in a row, ECOWAS recorded decline in shipments abroad of mixed fertilizers, which decreased by X% to X tons in 2022. Total exports indicated a mild expansion from 2012 to 2022: its volume 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. Based on 2022 figures, exports decreased by X% against 2019 indices. The growth pace was the most rapid in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, mixed fertilizer exports reduced markedly to $X in 2022. In general, exports saw a slight contraction. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Mali (X tons) and Cote d'Ivoire (X tons) dominates exports structure, together constituting X% of total exports. It was distantly followed by Senegal (X tons) and Ghana (X tons), together mixing up a X% share of total exports. Togo (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Cote d'Ivoire (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest mixed fertilizer supplying countries in ECOWAS were Cote d'Ivoire ($X), Mali ($X) and Senegal ($X), together comprising X% of total exports.

In terms of the main exporting countries, Cote d'Ivoire, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, remaining relatively unchanged against the previous year. In general, the export price recorded a pronounced slump. The pace of growth was the most pronounced in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

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

Mixed Fertilizer Imports

Imports in ECOWAS

In 2022, the amount of mixed fertilizers imported in ECOWAS surged to X tons, rising by X% on 2021. Over the period under review, imports enjoyed buoyant growth. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, mixed fertilizer imports skyrocketed to $X in 2022. Total imports indicated a perceptible 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. The most prominent rate of growth was recorded in 2016 with an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, Nigeria (X tons), distantly followed by Ghana (X tons), Benin (X tons), Burkina Faso (X tons), Cote d'Ivoire (X tons), Mali (X tons) and Togo (X tons) represented the largest importers of mixed fertilizers, together achieving X% of total imports.

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

In value terms, the largest mixed fertilizer importing markets in ECOWAS were Nigeria ($X), Benin ($X) and Cote d'Ivoire ($X), together comprising X% of total imports.

Benin, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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

In 2022, the import price in ECOWAS amounted to $X per ton, growing by X% against the previous year. Overall, the import price, however, continues to indicate a abrupt decline. The pace of growth was the most pronounced 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.

Prices varied noticeably by country of destination: amid the top importers, 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 Cote d'Ivoire (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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