ECOWAS: Walnut Market 2024

Walnut Market Size in ECOWAS

The ECOWAS walnut market reduced slightly to $X in 2022, remaining constant against the previous year. 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. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Walnut Production in ECOWAS

In value terms, walnut production contracted modestly to $X in 2022 estimated in export price. The total production indicated a notable 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 growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Burkina Faso (X tons) remains the largest walnut producing country in ECOWAS, comprising approx. X% of total volume.

From 2012 to 2022, the average annual rate of growth in terms of volume in Burkina Faso totaled X%.

In 2022, the average yield of walnuts in ECOWAS stood at X tons per ha, flattening at the previous year. Over the period under review, the yield, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the yield increased by X%. As a result, the yield attained the peak level of X tons per ha. From 2017 to 2022, the growth of the walnut yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of walnuts in ECOWAS contracted modestly to X ha, waning by X% on the previous year's figure. The total harvested area indicated a strong increase from 2012 to 2022: its figure 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, walnut harvested area increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2015 when the harvested area increased by X%. The level of harvested area peaked at X ha in 2021, and then fell modestly in the following year.

Walnut Exports

Exports in ECOWAS

In 2022, the amount of walnuts exported in ECOWAS declined rapidly to X tons, waning by X% on the previous year's figure. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, walnut exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a prominent expansion. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire represented the main exporting country with an export of about X tons, which finished at X% of total exports. It was distantly followed by Benin (X tons) and Nigeria (X tons), together generating a X% share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the walnuts exports, with a CAGR of X% from 2012 to 2022. At the same time, Benin (X%) displayed positive paces of growth. By contrast, Nigeria (X%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (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, Cote d'Ivoire ($X) emerged as the largest walnut supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Benin ($X), with a X% share of total exports.

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

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the export price enjoyed a resilient increase. The pace of growth appeared the most rapid in 2014 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per ton in 2017; however, from 2018 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 ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the export price figures.

Walnut Imports

Imports in ECOWAS

In 2022, approx. X tons of walnuts were imported in ECOWAS; with an increase of X% on 2021 figures. Overall, imports posted a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, walnut imports surged to $X in 2022. Over the period under review, imports continue to indicate a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria prevails in imports structure, amounting to X tons, which was near X% of total imports in 2022. Cote d'Ivoire (X tons) took a minor share of total imports.

Nigeria was also the fastest-growing in terms of the walnuts imports, with a CAGR of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. Nigeria (X p.p.) significantly strengthened its position in terms of the total imports, while Cote d'Ivoire saw its share reduced by X% from 2012 to 2022, respectively.

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

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to X%.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, falling by X% against the previous year. Over the period under review, the import price showed a deep contraction. The pace of growth appeared the most rapid in 2020 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Nigeria stood at $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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