Western Africa: Grain Market 2024

Grain Market Size in Western Africa

In 2022, the West African grain market decreased by X% to $X for the first time since 2017, thus ending a four-year rising trend. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2021, and then shrank modestly in the following year.

Grain Production in Western Africa

In value terms, grain production dropped modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of grain production was Nigeria (X tons), comprising approx. X% of total volume. Moreover, grain production in Nigeria exceeded the figures recorded by the second-largest producer, Mali (X tons), threefold. Burkina Faso (X tons) ranked third in terms of total production with a X% share.

In Nigeria, grain production increased at an average annual rate of X% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Mali (X% per year) and Burkina Faso (X% per year).

The average grain yield amounted to X tons per ha in 2022, approximately equating the previous year. The yield figure 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 recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the yield increased by X%. Over the period under review, the grain yield attained the peak level at X tons per ha in 2020; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The grain harvested area contracted modestly to X ha in 2022, remaining stable against the year before. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 when the harvested area increased by X% against the previous year. The level of harvested area peaked at X ha in 2018; however, from 2019 to 2022, the harvested area failed to regain momentum.

Grain Exports

Exports in Western Africa

In 2022, approx. X tons of grain were exported in Western Africa; surging by X% on the previous year. In general, exports, however, saw a slight decline. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, grain exports amounted to $X in 2022. Over the period under review, exports, however, saw a mild decrease. The pace of growth was the most pronounced in 2013 when exports increased by X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Cote d'Ivoire (X tons) was the major exporter of grain, making up X% of total exports. Liberia (X tons) took the second position in the ranking, followed by Burkina Faso (X tons) and Senegal (X tons). All these countries together held approx. X% share of total exports. Benin (X tons), Niger (X tons) and Mali (X tons) followed a long way behind the leaders.

Exports from Cote d'Ivoire increased at an average annual rate of X% from 2012 to 2022. At the same time, Niger (X%), Senegal (X%), Mali (X%), Liberia (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Benin (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.), Liberia (X p.p.), Senegal (X p.p.), Burkina Faso (X p.p.) and Niger (X p.p.) significantly strengthened its position in terms of the total exports, while Benin saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest grain supplying countries in Western Africa were Senegal ($X), Cote d'Ivoire ($X) and Liberia ($X), together comprising X% of total exports. Burkina Faso, Mali, Niger and Benin lagged somewhat behind, together accounting for a further X%.

Niger, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, declining by X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

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 Mali ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (X%), while the other leaders experienced mixed trends in the export price figures.

Grain Imports

Imports in Western Africa

In 2022, purchases abroad of grain increased by X% to X tons, rising for the third consecutive year after two years of decline. Total imports indicated a perceptible 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 pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, grain imports shrank modestly to $X in 2022. Overall, imports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of X%. The level of import peaked at $X in 2021, and then declined modestly in the following year.

Imports by Country

Nigeria was the major importing country with an import of around X tons, which resulted at X% of total imports. Senegal (X tons) held the second position in the ranking, followed by Ghana (X tons), Mauritania (X tons), Cote d'Ivoire (X tons), Guinea (X tons) and Mali (X tons). All these countries together held approx. X% share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Guinea (X%), Mali (X%), Senegal (X%), Ghana (X%), Mauritania (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Guinea, Mali and Senegal increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported grain in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Senegal ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria totaled X%. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, waning by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2021, and then dropped in the following year.

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 Nigeria ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritania (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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