ECOWAS: Dry Vegetable Market 2024

Dry Vegetable Market Size in ECOWAS

In 2022, after two years of decline, there was significant growth in the ECOWAS dry vegetable market, when its value increased by 16% to $X. The market value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in the near future.

Dry Vegetable Production in ECOWAS

In value terms, dry vegetable production rose to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 18%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Dry Vegetable Exports

Exports in ECOWAS

In 2022, dry vegetable exports in ECOWAS reached X tons, increasing by 3.9% compared with the year before. Over the period under review, exports enjoyed a tangible increase. The growth pace was the most rapid in 2017 with an increase of 124% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, dry vegetable exports expanded remarkably to $X in 2022. Overall, exports, however, recorded a mild decrease. The pace of growth was the most pronounced in 2017 when exports increased by 33%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Togo (X tons) was the main exporter of dry vegetables, mixing up 56% of total exports. It was distantly followed by Niger (X tons), Senegal (X tons) and Cote d'Ivoire (X tons), together constituting a 35% share of total exports. Nigeria (X tons), Ghana (X tons) and Mali (X tons) followed a long way behind the leaders.

Exports from Togo increased at an average annual rate of +3.3% from 2012 to 2022. At the same time, Niger (+39.7%), Ghana (+7.2%) and Cote d'Ivoire (+7.2%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +39.7% from 2012-2022. Senegal experienced a relatively flat trend pattern. By contrast, Nigeria (-1.7%) and Mali (-11.4%) illustrated a downward trend over the same period. While the share of Niger (+12 p.p.) and Cote d'Ivoire (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nigeria (-2 p.p.), Senegal (-5.3 p.p.) and Mali (-8.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest dry vegetable supplying countries in ECOWAS were Senegal ($X), Niger ($X) and Togo ($X), with a combined 84% share of total exports.

In terms of the main exporting countries, Niger, with a CAGR of +39.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, growing by 2.4% against the previous year. Overall, the export price, however, saw a pronounced downturn. The growth pace was the most rapid in 2018 when the export price increased by 89% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Mali ($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 (+9.2%), while the other leaders experienced a decline in the export price figures.

Dry Vegetable Imports

Imports in ECOWAS

In 2022, after two years of decline, there was significant growth in supplies from abroad of dry vegetables, when their volume increased by 36% to X tons. Overall, imports enjoyed measured growth. The pace of growth was the most pronounced in 2019 with an increase of 101% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, dry vegetable imports skyrocketed to $X in 2022. Total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +111.9% against 2018 indices. The pace of growth was the most pronounced in 2019 when imports increased by 50% 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

In 2022, Senegal (X tons) and Nigeria (X tons) represented the main importers of dry vegetables in ECOWAS, together making up 71% of total imports. It was distantly followed by Cote d'Ivoire (X tons), achieving a 19% share of total imports. Benin (X tons), Niger (X tons) and Ghana (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Benin (with a CAGR of +17.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Nigeria ($X) and Senegal ($X) constituted the countries with the highest levels of imports in 2022, with a combined 93% share of total imports. Benin, Niger and Ghana lagged somewhat behind, together comprising a further 4.4%.

Niger, with a CAGR of +16.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, shrinking by -4.5% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 60% against the previous year. Over the period under review, import prices reached the maximum 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 Cote d'Ivoire ($X per ton), while Niger ($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 (+4.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform