ECOWAS: Mustard Seed Market 2024

Mustard Seed Market Size in ECOWAS

In 2022, the ECOWAS mustard seed market increased by X% to $X, rising for the second year in a row after two years of decline. The total consumption indicated a measured 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 2020 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Mustard Seed Production in ECOWAS

In value terms, mustard seed production soared to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Togo (X tons) constituted the country with the largest volume of mustard seed production, accounting for X% of total volume. Moreover, mustard seed production in Togo exceeded the figures recorded by the second-largest producer, Nigeria (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Togo stood at X%. The remaining producing countries recorded the following average annual rates of production growth: Nigeria (X% per year) and Benin (X% per year).

Mustard Seed Exports

Exports in ECOWAS

In 2022, the amount of mustard seed exported in ECOWAS skyrocketed to X tons, jumping by X% on 2021. Over the period under review, exports posted a resilient expansion. The pace of growth was the most pronounced in 2017 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, mustard seed exports surged to $X in 2022. In general, exports enjoyed a pronounced increase. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

In 2022, Togo (X tons) represented the major exporter of mustard seed, constituting X% of total exports. It was distantly followed by Nigeria (X tons), comprising a X% share of total exports. The following exporters - Senegal (X tons) and Benin (X tons) - each resulted at a X% share of total exports.

Togo experienced a relatively flat trend pattern with regard to volume of exports of mustard seed. At the same time, Benin (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Nigeria (X%) and Senegal (X%) illustrated a downward trend over the same period. While the share of Togo (X p.p.), Senegal (X p.p.) and Benin (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nigeria (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) emerged as the largest mustard seed supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Togo ($X), with a X% share of total exports. It was followed by Senegal, with an X% share.

In Nigeria, mustard seed exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (X% per year) and Senegal (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price recorded a abrupt descent. The growth pace was the most rapid in 2020 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

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

Mustard Seed Imports

Imports in ECOWAS

In 2022, imports of mustard seed in ECOWAS skyrocketed to X tons, with an increase of X% against the previous year's figure. Total imports indicated buoyant growth 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, imports increased by X% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, mustard seed imports skyrocketed to $X in 2022. Total imports indicated a buoyant increase 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, imports increased by X% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Senegal dominates imports structure, finishing at X tons, which was approx. X% of total imports in 2022. Cote d'Ivoire (X tons) held a minor share of total imports.

Imports into Senegal increased at an average annual rate of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Cote d'Ivoire increased by X percentage points.

In value terms, Senegal ($X) constitutes the largest market for imported mustard seed in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total imports.

In Senegal, mustard seed imports increased at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price, however, continues to indicate a mild descent. The pace of growth appeared the most rapid in 2018 when the import price increased by X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Senegal amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%).

Source: IndexBox Platform

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