ECOWAS: Market for Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases 2024

Market Size for Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases in ECOWAS

The ECOWAS market for fresh or chilled pig meat other than cuts or carcases reduced slightly to $X in 2022, declining by -2.6% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Production of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases in ECOWAS

In value terms, production of fresh or chilled pig meat other than cuts or carcases reduced slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 30%. As a result, production reached the peak level of $X. From 2018 to 2022, production of growth remained at a somewhat lower figure.

Nigeria (X tons) constituted the country with the largest volume of production of fresh or chilled pig meat other than cuts or carcases, comprising approx. 48% of total volume. Moreover, production of fresh or chilled pig meat other than cuts or carcases in Nigeria exceeded the figures recorded by the second-largest producer, Niger (X tons), fivefold. The third position in this ranking was taken by Burkina Faso (X tons), with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume in Nigeria totaled +6.3%. The remaining producing countries recorded the following average annual rates of production growth: Niger (+5.9% per year) and Burkina Faso (+5.9% per year).

Exports of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases

Exports in ECOWAS

In 2022, overseas shipments of fresh or chilled pig meat other than cuts or carcases increased by 23% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports, however, showed a deep reduction. The pace of growth appeared the most rapid in 2014 with an increase of 81%. 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, exports of fresh or chilled pig meat other than cuts or carcases fell remarkably to $X in 2022. In general, exports, however, continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 71% against the previous year. Over the period under review, the exports of reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Senegal (X tons), followed by Cote d'Ivoire (X tons) were the largest exporters of fresh or chilled pig meat other than cuts or carcases, together making up 100% of total exports.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of +36.5%).

In value terms, Cote d'Ivoire ($X) remains the largest fresh pork other than cuts or carcases supplier in ECOWAS, comprising 93% of total exports. The second position in the ranking was taken by Senegal ($X), with a 7.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire totaled -5.1%.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, shrinking by -35.8% against the previous year. In general, the export price continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2021 when the export price increased by 88%. The level of export peaked at $X per ton in 2015; however, from 2016 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 Cote d'Ivoire ($X per ton), while Senegal stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-4.3%).

Imports of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases

Imports in ECOWAS

In 2022, supplies from abroad of fresh or chilled pig meat other than cuts or carcases increased by 6.4% to X tons, rising for the second consecutive year after six years of decline. Overall, imports showed a buoyant increase. The pace of growth was the most pronounced in 2014 with an increase of 353% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of fresh or chilled pig meat other than cuts or carcases reduced to $X in 2022. In general, imports recorded prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by 106% against the previous year. Over the period under review, imports of attained the maximum at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Togo (X tons) was the largest importer of fresh or chilled pig meat other than cuts or carcases, comprising 40% of total imports. Liberia (X tons) ranks second in terms of the total imports with a 13% share, followed by Mali (11%), Cabo Verde (9.2%), Guinea (8.6%) and Niger (4.8%). Sierra Leone (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to fresh pork other than cuts or carcases imports into Togo stood at +4.5%. At the same time, Guinea (+49.2%), Niger (+35.7%), Mali (+33.3%), Sierra Leone (+18.8%), Cabo Verde (+5.5%) and Liberia (+2.9%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +49.2% from 2012-2022. From 2012 to 2022, the share of Mali, Guinea, Niger and Sierra Leone increased by +9.7, +8.3, +4.4 and +2.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest fresh pork other than cuts or carcases importing markets in ECOWAS were Mali ($X), Liberia ($X) and Niger ($X), together comprising 58% of total imports. Cabo Verde, Sierra Leone, Guinea and Togo lagged somewhat behind, together accounting for a further 29%.

Guinea, with a CAGR of +50.4%, 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

In 2022, the import price in ECOWAS amounted to $X per ton, dropping by -18.7% against the previous year. Import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for fresh or chilled pig meat other than cuts or carcases increased by +28.3% against 2020 indices. The pace of growth was the most pronounced in 2015 when the import price increased by 62%. Over the period under review, import prices reached the maximum at $X per ton in 2021, and then reduced rapidly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform