Western Africa: Banana Market 2024

Banana Market Size in Western Africa

In 2022, the West African banana market increased by X% to $X, rising for the sixth consecutive year after three years of decline. The total consumption indicated tangible 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, consumption increased by X% against 2016 indices. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Banana Production in Western Africa

In value terms, banana production shrank to $X in 2022 estimated in export price. The total production indicated pronounced 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, production increased by X% against 2015 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, production reached the peak level of $X, and then fell in the following year.

Cote d'Ivoire (X tons) remains the largest banana producing country in Western Africa, comprising approx. X% of total volume. Moreover, banana production in Cote d'Ivoire exceeded the figures recorded by the second-largest producer, Mali (X tons), threefold. Guinea (X tons) ranked third in terms of total production with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Cote d'Ivoire 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 2022, the average banana yield in Western Africa stood at X tons per ha, increasing by X% compared with 2021 figures. Over the period under review, the yield showed a relatively flat trend pattern. The level of yield peaked at X tons per ha in 2020; however, from 2021 to 2022, the 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 bananas in Western Africa shrank to X ha, waning by X% on 2021. The harvested area increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the harvested area attained the peak level of X ha, and then shrank in the following year.

Banana Exports

Exports in Western Africa

In 2022, approx. X tons of bananas were exported in Western Africa; waning by X% on 2021 figures. In general, exports, however, enjoyed a measured increase. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, banana exports reduced notably to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by X%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Cote d'Ivoire (X tons) was the major exporter of bananas, making up X% of total exports. It was distantly followed by Ghana (X tons), constituting a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to banana exports from Cote d'Ivoire stood at X%. At the same time, Ghana (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Ghana increased by X percentage points.

In value terms, Cote d'Ivoire ($X) and Ghana ($X) constituted the countries with the highest levels of exports in 2022.

Ghana, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the export price saw a pronounced decline. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Cote d'Ivoire totaled $X per ton.

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

Banana Imports

Imports in Western Africa

In 2022, after two years of growth, there was significant decline in supplies from abroad of bananas, when their volume decreased by X% to X tons. Over the period under review, imports, however, enjoyed significant growth. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021, and then reduced remarkably in the following year.

In value terms, banana imports reduced sharply to $X in 2022. In general, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Mali was the key importing country with an import of about X tons, which amounted to X% of total imports. Senegal (X tons) took the second position in the ranking, distantly followed by Niger (X tons). All these countries together held near X% share of total imports. Burkina Faso (X tons) and Togo (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest banana importing markets in Western Africa were Mali ($X), Senegal ($X) and Niger ($X), together comprising X% of total imports.

Senegal, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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 Western Africa stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, 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 Senegal ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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