ECOWAS: Market for Broad Beans And Horse Beans (Dry) 2025

Market Size for Broad Beans And Horse Beans (Dry) in ECOWAS

In 2022, the ECOWAS market for broad beans and horse beans (dry) decreased by -2.1% to $X, falling for the third year in a row after two years of growth. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Broad Beans And Horse Beans (Dry) in ECOWAS

In value terms, broad bean and horse bean production reduced to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 22% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Sierra Leone (X tons) constituted the country with the largest volume of broad bean and horse bean production, comprising approx. 70% of total volume. Moreover, broad bean and horse bean production in Sierra Leone exceeded the figures recorded by the second-largest producer, Nigeria (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Sierra Leone was relatively modest.

In 2022, the average yield of broad beans and horse beans (dry) in ECOWAS surged to X tons per ha, increasing by 18% compared with the year before. The yield figure increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, the yield reached the peak level and is likely to continue growth in the immediate term. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of broad beans and horse beans (dry) in ECOWAS declined modestly to X ha, remaining stable against the year before. Overall, the harvested area, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 3.8%. The level of harvested area peaked at X ha in 2018; afterwards, it flattened through to 2022.

Exports of Broad Beans And Horse Beans (Dry)

Exports in ECOWAS

In 2022, overseas shipments of broad beans and horse beans (dry) increased by 150% to X tons, rising for the sixth year in a row after two years of decline. Over the period under review, exports enjoyed significant growth. The growth pace was the most rapid in 2014 with an increase of 226% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, broad bean and horse bean exports dropped to $X in 2022. In general, exports continue to indicate significant growth. The growth pace was the most rapid in 2014 when exports increased by 150%. The level of export peaked at $X in 2021, and then fell in the following year.

Exports by Country

In 2022, Nigeria (X tons) was the key exporter of broad beans and horse beans (dry) in ECOWAS, making up 100% of total export.

Nigeria was also the fastest-growing in terms of the broad beans and horse beans (dry) exports, with a CAGR of +44.3% from 2012 to 2022. While the share of Nigeria (+3.3 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest broad bean and horse bean supplier in ECOWAS.

In Nigeria, broad bean and horse bean exports expanded at an average annual rate of +21.0% over the period from 2012-2022.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, declining by -65.4% against the previous year. In general, the export price showed a abrupt descent. The most prominent rate of growth was recorded in 2016 when the export price increased by 91% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to -16.2% per year.

Imports of Broad Beans And Horse Beans (Dry)

Imports in ECOWAS

In 2022, approx. X tons of broad beans and horse beans (dry) were imported in ECOWAS; with an increase of 8.6% on 2021. In general, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of 169% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, broad bean and horse bean imports surged to $X in 2022. Over the period under review, imports enjoyed a buoyant increase. The growth pace was the most rapid in 2014 with an increase of 250%. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

Mali was the largest importer of broad beans and horse beans (dry) in ECOWAS, with the volume of imports resulting at X tons, which was approx. 42% of total imports in 2022. Liberia (X tons) held the second position in the ranking, followed by Guinea (X tons) and Nigeria (X tons). All these countries together took near 39% share of total imports. The following importers - Ghana (X tons), Cote d'Ivoire (X tons) and Senegal (X tons) - each finished at an 11% share of total imports.

Imports into Mali increased at an average annual rate of +13.5% from 2012 to 2022. At the same time, Liberia (+73.7%), Guinea (+32.4%), Nigeria (+24.7%), Ghana (+24.5%), Senegal (+12.6%) and Cote d'Ivoire (+6.6%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +73.7% from 2012-2022. While the share of Liberia (+18 p.p.), Guinea (+12 p.p.), Mali (+8 p.p.), Nigeria (+4.1 p.p.) and Ghana (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cote d'Ivoire (-1.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest broad bean and horse bean importing markets in ECOWAS were Mali ($X), Liberia ($X) and Nigeria ($X), with a combined 71% share of total imports.

In terms of the main importing countries, Liberia, with a CAGR of +69.9%, saw 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 import price in ECOWAS amounted to $X per ton, surging by 10% against the previous year. In general, the import price, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2014 when the import price increased by 30%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

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 Liberia ($X per ton), while Guinea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Liberia (-2.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform