ECOWAS: Frozen Potato Market 2024

Frozen Potato Market Size in ECOWAS

The ECOWAS frozen potato market fell to $X in 2021, waning by -7.9% against the previous year. The total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +13.1% against 2019 indices. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Frozen Potato Production in ECOWAS

In value terms, frozen potato production fell to $X in 2021 estimated in export price. The total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +12.8% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 79% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Frozen Potato Exports

Exports in ECOWAS

In 2021, approx. X tons of frozen potatoes were exported in ECOWAS; which is down by -29.7% on 2020. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 59%. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, frozen potato exports fell significantly to $X in 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by 158%. Over the period under review, the exports reached the peak figure at $X in 2020, and then reduced dramatically in the following year.

Exports by Country

In 2021, Cote d'Ivoire (X tons) represented the main exporter of frozen potatoes, committing 77% of total exports. Mali (X tons) held a 10% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (4.8%). The following exporters - Sierra Leone (X tons) and Togo (X tons) - together made up 6.1% of total exports.

Cote d'Ivoire experienced a relatively flat trend pattern with regard to volume of exports of frozen potatoes. At the same time, Sierra Leone (+199.8%) and Senegal (+5.5%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +199.8% from 2012-2021. By contrast, Mali (-4.3%) and Togo (-7.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Cote d'Ivoire, Sierra Leone and Senegal increased by +8, +3.9 and +2 percentage points, respectively.

In value terms, Cote d'Ivoire ($X) remains the largest frozen potato supplier in ECOWAS, comprising 73% of total exports. The second position in the ranking was held by Mali ($X), with a 9% share of total exports. It was followed by Senegal, with a 7.6% share.

In Cote d'Ivoire, frozen potato exports increased at an average annual rate of +6.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Mali (-5.9% per year) and Senegal (-1.4% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, dropping by -37.5% against the previous year. In general, the export price, however, enjoyed a slight expansion. The most prominent rate of growth was recorded in 2016 an increase of 73% against the previous year. The level of export peaked at $X per ton in 2020, and then dropped significantly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+5.7%), while the other leaders experienced mixed trends in the export price figures.

Frozen Potato Imports

Imports in ECOWAS

In 2021, the amount of frozen potatoes imported in ECOWAS soared to X tons, increasing by 43% compared with 2020. Over the period under review, imports saw a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, frozen potato imports surged to $X in 2021. Overall, imports enjoyed a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Senegal (X tons) and Nigeria (X tons) represented the key importers of frozen potatoes in 2021, accounting for near 28% and 24% of total imports, respectively. Cabo Verde (X tons) took the next position in the ranking, followed by Ghana (X tons), Benin (X tons) and Cote d'Ivoire (X tons). All these countries together held near 33% share of total imports. Gambia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Nigeria (with a CAGR of +15.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen potato importing markets in ECOWAS were Nigeria ($X), Senegal ($X) and Cabo Verde ($X), with a combined 64% share of total imports.

In terms of the main importing countries, Senegal, with a CAGR of +13.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, with an increase of 1.6% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 8% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, 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 ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Benin (+1.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform