ECOWAS: Berry Market 2024

Berry Market Size in ECOWAS

In 2022, the ECOWAS berry market decreased by X% to $X, falling for the third year in a row after four years of growth. Overall, consumption saw a tangible expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Berry Production in ECOWAS

In value terms, berry production rose to $X in 2022 estimated in export price. Over the period under review, production posted a buoyant increase. The pace of growth was the most pronounced in 2016 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Mali (X tons), Guinea-Bissau (X tons) and Nigeria (X tons), together accounting for X% of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Nigeria (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

Berry Exports

Exports in ECOWAS

For the third year in a row, ECOWAS recorded growth in overseas shipments of berries, which increased by X% to X tons in 2022. Overall, exports, however, continue to indicate a deep slump. The pace of growth appeared the most rapid in 2016 with an increase of X%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, berry exports contracted remarkably to $X in 2022. Over the period under review, exports, however, recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Benin represented the key exporting country with an export of around X tons, which recorded X% of total exports. Togo (X tons) took the second position in the ranking, distantly followed by Ghana (X tons) and Cote d'Ivoire (X tons). All these countries together took near X% share of total exports. Mali (X kg) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Benin (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) remains the largest berry supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Togo ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with an X% share.

In Ghana, berry exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, which is down by X% against the previous year. In general, the export price, however, posted prominent growth. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, the export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Benin ($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 other leaders experienced mixed trends in the export price figures.

Berry Imports

Imports in ECOWAS

Berry imports soared to X tons in 2022, increasing by X% on 2021. Overall, imports saw significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, berry imports skyrocketed to $X in 2022. Over the period under review, imports saw a significant expansion. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

Nigeria prevails in imports structure, recording X tons, which was near X% of total imports in 2022. It was distantly followed by Cote d'Ivoire (X tons), comprising a X% share of total imports. The following importers - Ghana (X tons) and Cabo Verde (X tons) - together made up X% of total imports.

Nigeria was also the fastest-growing in terms of the berries imports, with a CAGR of X% from 2012 to 2022. At the same time, Cabo Verde (X%), Ghana (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Nigeria (X p.p.) significantly strengthened its position in terms of the total imports, while Cabo Verde, Ghana and Cote d'Ivoire saw its share reduced by X%, X% and X% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported berries in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with an X% share of total imports. It was followed by Cabo Verde, with an X% share.

In Nigeria, berry imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Cabo Verde (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, dropping by X% against the previous year. In general, the import price showed a abrupt curtailment. The growth pace was the most rapid in 2018 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform