ECOWAS: Cotton Linters Market 2024

Cotton Linters Market Size in ECOWAS

The ECOWAS cotton linters market contracted slightly to $X in 2021, with a decrease of -3% against the previous year. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2020, and then reduced slightly in the following year.

Cotton Linters Production in ECOWAS

In value terms, cotton linters production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the production volume increased by 6.8% against the previous year. The level of production peaked at $X in 2020, and then fell in the following year.

Cotton Linters Exports

Exports in ECOWAS

In 2021, after two years of growth, there was significant decline in overseas shipments of cotton linters, when their volume decreased by -7.2% to X tons. Over the period under review, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2013 when exports increased by 33%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, cotton linters exports shrank to $X in 2021. In general, exports recorded a abrupt descent. The pace of growth was the most pronounced in 2015 with an increase of 54% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Nigeria represented the major exporter of cotton linters in ECOWAS, with the volume of exports finishing at X tons, which was near 53% of total exports in 2021. Ghana (X tons) took the second position in the ranking, distantly followed by Togo (X tons). All these countries together held near 46% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Togo (with a CAGR of +28.6%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Nigeria ($X), Ghana ($X) and Togo ($X) constituted the countries with the highest levels of exports in 2021, with a combined 98% share of total exports.

Togo, with a CAGR of +23.5%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, waning by -2.2% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the export price increased by 43% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+1.0%), while the other leaders experienced a decline in the export price figures.

Cotton Linters Imports

Imports in ECOWAS

In 2021, purchases abroad of cotton linters decreased by -88.7% to X tons, falling for the third consecutive year after five years of growth. In general, imports saw a abrupt slump. The most prominent rate of growth was recorded in 2014 when imports increased by 556% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, cotton linters imports shrank notably to $X in 2021. Overall, imports continue to indicate a deep contraction. The growth pace was the most rapid in 2014 when imports increased by 518% against the previous year. The level of import peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

Gambia was the key importing country with an import of around X tons, which finished at 62% of total imports. Nigeria (X tons) ranks second in terms of the total imports with a 24% share, followed by Senegal (12%).

Gambia was also the fastest-growing in terms of the cotton linters imports, with a CAGR of +5.1% from 2012 to 2021. Senegal (-1.5%) and Nigeria (-17.9%) illustrated a downward trend over the same period. While the share of Gambia (+44 p.p.) and Senegal (+5.4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Nigeria (-41.7 p.p.) displayed negative dynamics.

In value terms, Gambia ($X), Senegal ($X) and Nigeria ($X) were the countries with the highest levels of imports in 2021, with a combined 93% share of total imports.

Among the main importing countries, Gambia, with a CAGR of +9.3%, 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 mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, picking up by 39% against the previous year. Overall, the import price, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 an increase of 117%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Senegal ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+5.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform