Cote d'Ivoire: Soya Sauce Market 2024

Soya Sauce Market Size in Cote d'Ivoire

The Cote d'Ivoire's soya sauce market rose significantly to $X in 2022, increasing by 9.1% against the previous year. Over the period under review, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -7.7% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Soya Sauce Production in Cote d'Ivoire

In value terms, soya sauce production expanded notably to $X in 2022 estimated in export price. In general, the total production indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% 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 -7.3% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 92%. Soya sauce production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Soya Sauce Exports

Exports from Cote d'Ivoire

In 2022, overseas shipments of soya sauce decreased by 0% to X kg for the first time since 2018, thus ending a three-year declining trend. Overall, exports saw a noticeable contraction. The pace of growth was the most pronounced in 2016 when exports increased by 307% against the previous year. The exports peaked at X kg in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, soya sauce exports amounted to $X in 2022. Over the period under review, exports showed a abrupt shrinkage. The growth pace was the most rapid in 2016 when exports increased by 547%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

France (X kg) was the main destination for soya sauce exports from Cote d'Ivoire, with a 95% share of total exports. Moreover, soya sauce exports to France exceeded the volume sent to the second major destination, Ireland (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to France amounted to +34.6%.

From 2012 to 2022, the average annual rate of growth in terms of value to France stood at +73.3%.

Export Prices by Country

In 2022, the average soya sauce export price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the export price saw a abrupt contraction. The most prominent rate of growth was recorded in 2016 an increase of 59% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Ireland ($X per ton), while the average price for exports to France totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+28.8%), while the prices for the other major destinations experienced a decline.

Soya Sauce Imports

Imports into Cote d'Ivoire

In 2022, approx. X tons of soya sauce were imported into Cote d'Ivoire; with an increase of 55% against 2021. Overall, imports saw a perceptible expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 303%. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, soya sauce imports skyrocketed to $X in 2022. In general, imports enjoyed a remarkable increase. The growth pace was the most rapid in 2014 when imports increased by 353% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

France (X tons), China (X tons) and the United Arab Emirates (X tons) were the main suppliers of soya sauce imports to Cote d'Ivoire, with a combined 61% share of total imports. Switzerland, Taiwan (Chinese), the United States, the Netherlands, Lebanon, Vietnam and Thailand lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +38.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of soya sauce to Cote d'Ivoire, comprising 61% of total imports. The second position in the ranking was taken by China ($X), with a 9.2% share of total imports. It was followed by Switzerland, with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France totaled +29.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.2% per year) and Switzerland (+2.4% per year).

Import Prices by Country

The average soya sauce import price stood at $X per ton in 2022, surging by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.4%. The pace of growth appeared the most rapid in 2020 when the average import price increased by 19% against the previous year. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform