ECOWAS: Market for Coconut, Abaca, Ramie and other Vegetable Textile Fibres 2024

Market Size for Coconut, Abaca, Ramie and other Vegetable Textile Fibres in ECOWAS

In 2022, the ECOWAS market for coconut, abaca, ramie and other vegetable textile fibres decreased by -17.4% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Coconut, Abaca, Ramie and other Vegetable Textile Fibres in ECOWAS

In value terms, production of coconut, abaca, ramie and other vegetable textile fibres fell modestly to $X in 2022 estimated in export price. Overall, production recorded a pronounced reduction. The most prominent rate of growth was recorded in 2019 with an increase of 85%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Sierra Leone (X tons), Cote d'Ivoire (X tons) and Mali (X tons), with a combined 97% share of total production.

From 2012 to 2022, the most notable rate of growth in terms of fibres, amongst the main producing countries, was attained by Mali (with a CAGR of +2.3%), while fibres for the other leaders experienced more modest paces of growth.

In 2022, the average yield of coconut, abaca, ramie and other vegetable textile fibres in ECOWAS contracted modestly to X tons per ha, remaining stable against 2021 figures. In general, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the yield increased by 2.9%. Over the period under review, the yield of coconut, abaca, ramie and other vegetable textile fibres attained the maximum level at X tons per ha in 2021, and then declined modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of coconut, abaca, ramie and other vegetable textile fibres production in ECOWAS reduced slightly to X ha, remaining stable against the previous year's figure. Overall, the harvested area, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the harvested area increased by 2.5% against the previous year. The level of harvested area peaked at X ha in 2018; afterwards, it flattened through to 2022.

Exports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Exports in ECOWAS

For the third year in a row, ECOWAS recorded decline in shipments abroad of coconut, abaca, ramie and other vegetable textile fibres, which decreased by -0.8% to X tons in 2022. In general, exports showed a noticeable slump. The pace of growth was the most pronounced in 2017 when exports increased by 82% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres rose remarkably to $X in 2022. Over the period under review, exports showed a pronounced descent. The most prominent rate of growth was recorded in 2019 with an increase of 91%. Over the period under review, the exports of attained the maximum at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire prevails in fibres structure, accounting for X tons, which was approx. 85% of total exports in 2022. It was distantly followed by Sierra Leone (X tons), mixing up a 9.3% share of total exports. Ghana (X tons) took a minor share of total exports.

Exports from Cote d'Ivoire decreased at an average annual rate of -3.5% from 2012 to 2022. At the same time, Ghana (+22.2%) and Sierra Leone (+15.6%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +22.2% from 2012-2022. Sierra Leone (+7.5 p.p.) and Ghana (+3.8 p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire saw its share reduced by -12.5% from 2012 to 2022, respectively.

In value terms, Cote d'Ivoire ($X) remains the largest coconut, abaca, ramie and other vegetable textile fibre supplier in ECOWAS, comprising 73% of total exports. The second position in the ranking was held by Sierra Leone ($X), with a 19% share of total exports.

In Cote d'Ivoire, exports of coconut, abaca, ramie and other vegetable textile fibres declined by an average annual rate of -5.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Sierra Leone (+7.9% per year) and Ghana (+17.7% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, rising by 6.3% against the previous year. Overall, the export price, however, recorded a mild setback. The growth pace was the most rapid in 2018 an increase of 32% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-2.4%), while the other leaders experienced a decline in the export price figures.

Imports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Imports in ECOWAS

In 2022, overseas purchases of coconut, abaca, ramie and other vegetable textile fibres decreased by -33.1% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, recorded a perceptible increase. The pace of growth was the most pronounced in 2019 when imports increased by 62% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres contracted markedly to $X in 2022. Over the period under review, imports, however, posted a measured increase. The pace of growth was the most pronounced in 2019 when imports increased by 73%. The level of import peaked at $X in 2021, and then shrank notably in the following year.

Imports by Country

Ghana (X tons) and Nigeria (X tons) were the key importers of coconut, abaca, ramie and other vegetable textile fibres in 2022, reaching near 28% and 21% of total imports, respectively. Cote d'Ivoire (X tons) held the next position in the ranking, followed by Gambia (X tons), Guinea (X tons), Liberia (X tons), Benin (X tons) and Senegal (X tons). All these countries together took approx. 43% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Benin (with a CAGR of +72.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest coconut, abaca, ramie and other vegetable textile fibre importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Gambia ($X), with a combined 63% share of total imports. Cote d'Ivoire, Guinea, Senegal, Benin and Liberia lagged somewhat behind, together comprising a further 31%.

In terms of the main importing countries, Benin, with a CAGR of +68.7%, 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 import price in ECOWAS amounted to $X per ton, remaining stable against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 46% against the previous year. The level of import peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Gambia ($X per ton), while Liberia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+15.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform