Cote d'Ivoire: Spice Market 2024

Spice Market Size in Cote d'Ivoire

The Cote d'Ivoire's spice market totaled $X in 2022, flattening at the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Spice Production in Cote d'Ivoire

In value terms, spice production reached $X in 2022 estimated in export price. The total output value 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 in certain years. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

In 2022, the average yield of spices in Cote d'Ivoire fell to X tons per ha, approximately equating 2021. In general, the yield, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of X%. As a result, the yield reached the peak level of X tons per ha. From 2016 to 2022, the growth of the average spice 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 spice harvested area in Cote d'Ivoire amounted to X ha, therefore, remained relatively stable against 2021. In general, the harvested area saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The spice harvested area peaked at X ha in 2017; however, from 2018 to 2022, the harvested area failed to regain momentum.

Spice Exports

Exports from Cote d'Ivoire

In 2022, approx. X tons of spices were exported from Cote d'Ivoire; increasing by X% compared with 2021 figures. Overall, exports recorded a significant increase. The pace of growth appeared the most rapid in 2019 with an increase of X%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, spice exports amounted to $X in 2022. Over the period under review, exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Liberia (X tons), Mali (X tons) and Senegal (X tons) were the main destinations of spice exports from Cote d'Ivoire, together accounting for X% of total exports.

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

In value terms, Senegal ($X) emerged as the key foreign market for spices exports from Cote d'Ivoire, comprising X% of total exports. The second position in the ranking was taken by Liberia ($X), with a X% share of total exports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Senegal totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Liberia (X% per year) and France (X% per year).

Export Prices by Country

In 2022, the average spice export price amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Mali ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Burkina Faso (X%), while the prices for the other major destinations experienced mixed trend patterns.

Spice Imports

Imports into Cote d'Ivoire

In 2022, supplies from abroad of spices increased by X% to X tons, rising for the fifth consecutive year after three years of decline. In general, imports posted buoyant growth. The growth pace was the most rapid in 2020 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, spice imports skyrocketed to $X in 2022. Overall, imports posted resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Ghana (X tons) constituted the largest spice supplier to Cote d'Ivoire, accounting for a X% share of total imports. Moreover, spice imports from Ghana exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. Lebanon (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Ghana totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Lebanon (X% per year).

In value terms, Ghana ($X), India ($X) and Mali ($X) appeared to be the largest spice suppliers to Cote d'Ivoire, together comprising X% of total imports. Burkina Faso, Spain, China, Lebanon, the United Arab Emirates, France and the UK lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Burkina Faso, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average spice import price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price continues to indicate a abrupt contraction. The pace of growth was the most pronounced in 2013 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

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 Ghana (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform