ECOWAS: Dairy Produce Market 2024

Dairy Produce Market Size in ECOWAS

In 2022, the ECOWAS dairy produce market decreased by X% to $X, falling for the second year in a row after five years of growth. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Dairy Produce Production in ECOWAS

In value terms, dairy produce production expanded to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Dairy Produce Exports

Exports in ECOWAS

For the fourth consecutive year, ECOWAS recorded growth in overseas shipments of dairy produce, which increased by X% to X tons in 2022. Over the period under review, exports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, dairy produce exports rose sharply to $X in 2022. Overall, exports, however, continue to indicate a significant curtailment. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Togo represented the key exporting country with an export of around X tons, which resulted at X% of total exports. It was distantly followed by Ghana (X tons), Senegal (X tons) and Cote d'Ivoire (X tons), together achieving a X% share of total exports. Nigeria (X tons) and Benin (X tons) followed a long way behind the leaders.

Exports from Togo increased at an average annual rate of X% from 2012 to 2022. At the same time, Ghana (X%), Cote d'Ivoire (X%) and Benin (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Senegal (X%) and Nigeria (X%) illustrated a downward trend over the same period. Togo (X p.p.), Ghana (X p.p.), Senegal (X p.p.), Cote d'Ivoire (X p.p.) and Benin (X p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the largest dairy produce supplying countries in ECOWAS were Togo ($X), Ghana ($X) and Senegal ($X), together accounting for X% of total exports.

In terms of the main exporting countries, Ghana, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the export price showed a deep contraction. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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 Cote d'Ivoire ($X per ton), while Benin ($X per ton) was amongst the lowest.

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

Dairy Produce Imports

Imports in ECOWAS

In 2022, supplies from abroad of dairy produce decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, dairy produce imports declined to $X in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria (X tons) and Ghana (X tons) were the key importers of dairy produce in 2022, resulting at approx. X% and X% of total imports, respectively. Togo (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Burkina Faso (X%), Cote d'Ivoire (X%), Gambia (X%), Senegal (X%) and Mali (X%). Cabo Verde (X tons) followed a long way behind the leaders.

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

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

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, with an increase of X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform