ECOWAS - Rice - Market Analysis, Forecast, Size, Trends and Insights
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View PricingECOWAS: Rice Market 2024
Rice Market Size in ECOWAS
In 2022, the ECOWAS rice market increased by X% to $X, rising for the second consecutive year after two years of decline. The total consumption indicated a perceptible 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, consumption increased by X% against 2020 indices. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.
Rice Production in ECOWAS
In value terms, rice production reduced slightly to $X in 2022 estimated in export price. Overall, production, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.
Nigeria (X tons) constituted the country with the largest volume of rice production, accounting for X% of total volume. Moreover, rice production in Nigeria exceeded the figures recorded by the second-largest producer, Mali (X tons), threefold. Guinea (X tons) ranked third in terms of total production with a X% share.
In Nigeria, rice production 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: Mali (X% per year) and Guinea (X% per year).
In 2022, the average rice yield in ECOWAS reached X tons per ha, remaining constant against 2021. Over the period under review, the yield saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the yield increased by X% against the previous year. Over the period under review, the rice yield hit record highs at X tons per ha in 2018; however, from 2019 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2022, the rice harvested area in ECOWAS reduced modestly to X ha, falling by X% compared with the previous year's figure. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2016 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to rice production reached the maximum at X ha in 2021, and then declined slightly in the following year.
Rice Exports
Exports in ECOWAS
Rice exports declined slightly to X tons in 2022, waning by X% against the year before. Overall, exports recorded a noticeable decline. The most prominent rate of growth was recorded in 2016 with an increase of X%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.
In value terms, rice exports fell to $X in 2022. Over the period under review, exports continue to indicate a perceptible decline. The growth pace was the most rapid in 2016 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.
Exports by Country
Senegal represented the largest exporter of rice in ECOWAS, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2022. Cote d'Ivoire (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Togo (X%) and Niger (X%).
Senegal experienced a relatively flat trend pattern with regard to volume of exports of rice. Cote d'Ivoire experienced a relatively flat trend pattern. Togo (X%) and Niger (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Senegal and Cote d'Ivoire increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Senegal ($X) remains the largest rice supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports. It was followed by Niger, with an X% share.
In Senegal, rice exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (X% per year) and Niger (X% per year).
Export Prices by Country
In 2022, the export price in ECOWAS amounted to $X per ton, stabilizing at the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, the export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Niger ($X per ton), while Togo ($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 a decline in the export price figures.
Rice Imports
Imports in ECOWAS
In 2022, the amount of rice imported in ECOWAS rose notably to X tons, with an increase of X% on the previous year. Total imports indicated a noticeable 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, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of import peaked in 2022 and is expected to retain growth in the near future.
In value terms, rice imports totaled $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.
Imports by Country
The countries with the highest levels of rice imports in 2022 were Benin (X tons), Cote d'Ivoire (X tons), Senegal (X tons), Niger (X tons), Ghana (X tons), Guinea (X tons) and Burkina Faso (X tons), together amounting to X% of total import.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Niger (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Cote d'Ivoire ($X), Benin ($X) and Ghana ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Senegal, Niger, Guinea and Burkina Faso lagged somewhat behind, together accounting for a further X%.
In terms of the main importing countries, Niger, with a CAGR of X%, saw the highest growth rate of the value of imports, 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 2022, growing by X% against the previous year. In general, the import price, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Burkina Faso ($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 a decline in the import price figures.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the rice market in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 27 - Rice, paddy
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in ECOWAS, split by region and country
- Trade (exports and imports) in ECOWAS
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
- HARVESTED AREA AND YIELD BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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