ECOWAS: Sweet Potato Market 2024

Sweet Potato Market Size in ECOWAS

The ECOWAS sweet potato market was estimated at $X in 2023, almost unchanged from the previous year. The total consumption indicated strong growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2019 indices. Over the period under review, the market hit record highs in 2023 and is expected to retain growth in years to come.

Sweet Potato Production in ECOWAS

In value terms, sweet potato production dropped to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a prominent 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 2020; however, from 2021 to 2023, production stood at a somewhat lower figure.

Nigeria (X tons) remains the largest sweet potato producing country in ECOWAS, comprising approx. X% of total volume. Moreover, sweet potato production in Nigeria exceeded the figures recorded by the second-largest producer, Mali (X tons), eightfold. The third position in this ranking was taken by Guinea (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume in Nigeria stood at X%. The remaining producing countries recorded the following average annual rates of production growth: Mali (X% per year) and Guinea (X% per year).

In 2023, the average yield of sweet potatoes in ECOWAS reached X tons per ha, approximately reflecting the previous year. In general, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the sweet potato yield hit record highs at X tons per ha in 2021; afterwards, it flattened through to 2023. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, approx. X ha of sweet potatoes were harvested in ECOWAS; therefore, remained relatively stable against the year before. The harvested area increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The level of harvested area peaked at X ha in 2022, and then declined in the following year.

Sweet Potato Exports

Exports in ECOWAS

Sweet potato exports shrank to X tons in 2023, with a decrease of X% on 2022 figures. In general, exports faced a drastic downturn. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, sweet potato exports expanded remarkably to $X in 2023. Over the period under review, exports recorded a noticeable contraction. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Benin (X tons) and Mali (X tons) represented the main exporters of sweet potatoes in ECOWAS, together reaching near X% of total exports. Ghana (X tons) took the next position in the ranking, followed by Nigeria (X tons). All these countries together took near X% share of total exports. Senegal (X tons) and Burkina Faso (X tons) held a relatively small share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Benin (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest sweet potato supplying countries in ECOWAS were Mali ($X), Benin ($X) and Ghana ($X), with a combined X% share of total exports.

Among the main exporting countries, Benin, 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 mixed trends in the exports figures.

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price showed a resilient expansion. The most prominent rate of growth was recorded in 2015 when the export price increased by X% against the previous year. The level of export peaked in 2023 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mali (X%), while the other leaders experienced more modest paces of growth.

Sweet Potato Imports

Imports in ECOWAS

In 2023, supplies from abroad of sweet potatoes increased by X% to X tons, rising for the second year in a row after five years of decline. Overall, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X%. As a result, imports attained the peak of X tons. From 2017 to 2023, the growth of imports failed to regain momentum.

In value terms, sweet potato imports surged to $X in 2023. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Togo prevails in imports structure, accounting for X tons, which was approx. X% of total imports in 2023. Gambia (X tons) and Niger (X tons) held a little share of total imports.

Togo was also the fastest-growing in terms of the sweet potatoes imports, with a CAGR of X% from 2012 to 2023. At the same time, Gambia (X%) displayed positive paces of growth. By contrast, Niger (X%) illustrated a downward trend over the same period. While the share of Togo (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Niger (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X) constitutes the largest market for imported sweet potatoes in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Niger ($X), with an X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value in Togo amounted to X%. In the other countries, the average annual rates were as follows: Niger (X% per year) and Gambia (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2023, with a decrease of X% against the previous year. Overall, the import price saw a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Niger ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Gambia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform