ECOWAS: Pesticide Market 2024

Pesticide Market Size in ECOWAS

The ECOWAS pesticide market reached $X in 2022, picking up by X% against the previous year. Overall, consumption continues to indicate a abrupt decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Pesticide Production in ECOWAS

In value terms, pesticide production rose markedly to $X in 2022 estimated in export price. The total production indicated a measured 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, production decreased by X% against 2020 indices. 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 reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Pesticide Exports

Exports in ECOWAS

Pesticide exports rose notably to X tons in 2022, surging by X% against the previous year's figure. Overall, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, pesticide exports rose remarkably to $X in 2022. Over the period under review, exports, however, saw a mild decline. The growth pace was the most rapid in 2017 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Nigeria represented the largest exporter of pesticides in ECOWAS, with the volume of exports recording X tons, which was approx. X% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X tons), Ghana (X tons), Niger (X tons) and Senegal (X tons), together making up a X% share of total exports. Togo (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to pesticide exports from Nigeria stood at X%. At the same time, Niger (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%), Senegal (X%) and Togo (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria, Cote d'Ivoire and Niger increased by X, X and X percentage points, respectively.

In value terms, Cote d'Ivoire ($X), Nigeria ($X) and Niger ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports.

In terms of the main exporting countries, Niger, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the export price in ECOWAS amounted to $X per ton, stabilizing at the previous year. Overall, the export price showed a deep slump. The pace of growth appeared the most rapid in 2017 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, 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 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 Togo (X%), while the other leaders experienced more modest paces of growth.

Pesticide Imports

Imports in ECOWAS

In 2022, approx. X tons of pesticides were imported in ECOWAS; which is down by X% on the previous year's figure. Overall, imports, however, saw temperate growth. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, pesticide imports soared to $X in 2022. Total imports indicated resilient 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, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Nigeria was the largest importer of pesticides in ECOWAS, with the volume of imports recording X tons, which was approx. X% of total imports in 2022. Ghana (X tons) held the second position in the ranking, distantly followed by Cote d'Ivoire (X tons) and Guinea (X tons). All these countries together held approx. X% share of total imports. Burkina Faso (X tons), Benin (X tons) and Senegal (X tons) followed a long way behind the leaders.

From 2012 to 2022, 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 ($X) constitutes the largest market for imported pesticides in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with an X% share of total imports. It was followed by Cote d'Ivoire, with an X% share.

In Nigeria, pesticide imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Burkina Faso ($X per ton), while Guinea ($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.

Source: IndexBox Platform

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