Cote d'Ivoire: Honey Market 2024

Honey Market Size in Cote d'Ivoire

The Cote d'Ivoire's honey market amounted to $X in 2022, remaining relatively unchanged against the previous year. In general, consumption, however, saw a noticeable curtailment. Honey consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Honey Production in Cote d'Ivoire

In value terms, honey production rose to $X in 2022 estimated in export price. Overall, production, however, showed a abrupt shrinkage. The growth pace was the most rapid in 2017 with an increase of 30%. Honey production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Honey Exports

Exports from Cote d'Ivoire

In 2022, the amount of honey exported from Cote d'Ivoire surged to X tons, rising by 217% compared with the year before. Over the period under review, exports enjoyed strong growth. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, honey exports soared to $X in 2022. In general, exports saw a resilient increase. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for honey exports from Cote d'Ivoire, accounting for a 72% share of total exports. Moreover, honey exports to the United States exceeded the volume sent to the second major destination, Morocco (X kg), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +5.8%.

In value terms, the United States ($X) remains the key foreign market for honey exports from Cote d'Ivoire, comprising 38% of total exports. The second position in the ranking was taken by Morocco ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at -5.2%.

Export Prices by Country

The average honey export price stood at $X per ton in 2022, which is down by -6.6% against the previous year. In general, the export price continues to indicate a abrupt descent. The growth pace was the most rapid in 2018 when the average export price increased by 39%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Morocco ($X per ton), while the average price for exports to the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (+13.3%), while the prices for the other major destinations experienced a decline.

Honey Imports

Imports into Cote d'Ivoire

In 2022, approx. X tons of honey were imported into Cote d'Ivoire; growing by 4.3% against 2021 figures. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 43% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, honey imports plummeted to $X in 2022. Over the period under review, imports continue to indicate a moderate increase. The growth pace was the most rapid in 2021 with an increase of 61%. As a result, imports attained the peak of $X, and then contracted markedly in the following year.

Imports by Country

In 2022, France (X tons) constituted the largest supplier of honey to Cote d'Ivoire, accounting for a 48% share of total imports. Moreover, honey imports from France exceeded the figures recorded by the second-largest supplier, Lebanon (X tons), twofold. The third position in this ranking was taken by Spain (X tons), with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from France totaled +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Lebanon (+21.0% per year) and Spain (-6.2% per year).

In value terms, France ($X) constituted the largest supplier of honey to Cote d'Ivoire, comprising 64% of total imports. The second position in the ranking was held by Spain ($X), with a 21% share of total imports. It was followed by Senegal, with a 5.7% share.

From 2012 to 2022, the average annual growth rate of value from France totaled +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-0.9% per year) and Senegal (+26.3% per year).

Import Prices by Country

The average honey import price stood at $X per ton in 2022, reducing by -22.3% against the previous year. Overall, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, honey import price increased by +38.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 75%. As a result, import price reached the peak level of $X per ton, and then fell rapidly in the following year.

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 Senegal ($X per ton), while the price for Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform