ECOWAS: Market for Flaked or Rolled Cereals 2025

Market Size for Flaked or Rolled Cereals in ECOWAS

The ECOWAS flaked or rolled cereal market amounted to $X in 2022, approximately reflecting the previous year. The total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -8.6% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Flaked or Rolled Cereals in ECOWAS

In value terms, flaked or rolled cereal production rose markedly to $X in 2022 estimated in export price. The total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.5% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 43% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Exports of Flaked or Rolled Cereals

Exports in ECOWAS

Flaked or rolled cereal exports contracted significantly to X tons in 2022, with a decrease of -44.1% compared with the year before. Over the period under review, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2018 with an increase of 1,546% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, flaked or rolled cereal exports declined significantly to $X in 2022. In general, exports saw a deep contraction. The pace of growth was the most pronounced in 2018 when exports increased by 428% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Cote d'Ivoire (X tons), distantly followed by Niger (X tons), Nigeria (X tons), Burkina Faso (X tons) and Ghana (X tons) represented the main exporters of flaked or rolled cereals, together mixing up 90% of total exports. The following exporters - Mali (X tons) and Senegal (X tons) - each accounted for an 8.1% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +6.4%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Cote d'Ivoire ($X), Niger ($X) and Burkina Faso ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for 64% of total exports.

Among the main exporting countries, Cote d'Ivoire, with a CAGR of +11.0%, 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 mixed trends in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, rising by 24% against the previous year. In general, the export price posted a temperate increase. The most prominent rate of growth was recorded in 2019 an increase of 161% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

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 Burkina Faso ($X per ton), while Mali ($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 (+14.1%), while the other leaders experienced more modest paces of growth.

Imports of Flaked or Rolled Cereals

Imports in ECOWAS

In 2022, imports of flaked or rolled cereals in ECOWAS shrank markedly to X tons, which is down by -66.9% against the year before. In general, imports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 759% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, flaked or rolled cereal imports dropped notably to $X in 2022. Over the period under review, imports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 271%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Ghana (X tons) and Cote d'Ivoire (X tons) were the largest importers of flaked or rolled cereals in 2022, resulting at approx. 35% and 30% of total imports, respectively. Nigeria (X tons) ranks next in terms of the total imports with a 19% share, followed by Liberia (5%). The following importers - Cabo Verde (X tons), Burkina Faso (X tons) and Gambia (X tons) - together made up 8.2% 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 Gambia (with a CAGR of +40.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest flaked or rolled cereal importing markets in ECOWAS were Ghana ($X), Cote d'Ivoire ($X) and Nigeria ($X), together comprising 84% of total imports. Liberia, Cabo Verde, Gambia and Burkina Faso lagged somewhat behind, together comprising a further 11%.

Gambia, with a CAGR of +50.2%, saw the highest growth rate of the value of imports, among 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 -4.3% against the previous year. Overall, the import price, however, showed a slight increase. The pace of growth appeared the most rapid in 2019 when the import price increased by 75% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, 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 Ghana ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Gambia (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform