ECOWAS: Non-Wheat Groats Market 2024

Non-Wheat Groats Market Size in ECOWAS

In 2021, after two years of growth, there was decline in the ECOWAS non-wheat groats market, when its value decreased by -1.6% to $X. In general, consumption, however, recorded a noticeable decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Non-Wheat Groats Production in ECOWAS

In value terms, non-wheat groats production reduced modestly to $X in 2021 estimated in export price. In general, production, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2020 when the production volume increased by 5.7% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Non-Wheat Groats Exports

Exports in ECOWAS

In 2021, exports of groats and meal of cereals (excluding wheat) in ECOWAS surged to X tons, picking up by 82% compared with the previous year's figure. Over the period under review, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2020 when exports increased by 263%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, non-wheat groats exports surged to $X in 2021. In general, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 342% against the previous year. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

Togo was the key exporting country with an export of around X tons, which finished at 65% of total exports. It was distantly followed by Nigeria (X tons), Senegal (X tons) and Ghana (X tons), together constituting a 33% share of total exports.

Togo was also the fastest-growing in terms of the groats and meal of cereals (excluding wheat) exports, with a CAGR of +332.0% from 2012 to 2021. At the same time, Nigeria (+47.3%), Senegal (+9.2%) and Ghana (+7.3%) displayed positive paces of growth. From 2012 to 2021, the share of Togo and Nigeria increased by +65 and +12 percentage points, respectively.

In value terms, Togo ($X) remains the largest non-wheat groats supplier in ECOWAS, comprising 62% of total exports. The second position in the ranking was taken by Senegal ($X), with a 17% share of total exports. It was followed by Nigeria, with a 13% share.

From 2012 to 2021, the average annual growth rate of value in Togo totaled +322.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (+9.8% per year) and Nigeria (+44.2% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, shrinking by -15.3% against the previous year. Export price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, non-wheat groats export price decreased by -39.9% against 2016 indices. The growth pace was the most rapid in 2013 an increase of 47%. Over the period under review, the export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Senegal ($X per ton) and Ghana ($X per ton), while Nigeria ($X per ton) and Togo ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+0.5%), while the other leaders experienced a decline in the export price figures.

Non-Wheat Groats Imports

Imports in ECOWAS

In 2021, the amount of groats and meal of cereals (excluding wheat) imported in ECOWAS stood at X tons, growing by 4.3% compared with the previous year's figure. Over the period under review, imports posted a remarkable increase. The growth pace was the most rapid in 2020 when imports increased by 130%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, non-wheat groats imports expanded to $X in 2021. Overall, imports posted a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 228% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

Imports by Country

In 2021, Nigeria (X tons) was the main importer of groats and meal of cereals (excluding wheat), generating 61% of total imports. Cote d'Ivoire (X tons) ranks second in terms of the total imports with an 18% share, followed by Burkina Faso (9.3%). Senegal (X tons), Benin (X tons) and Mali (X tons) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to non-wheat groats imports into Nigeria stood at +26.1%. At the same time, Benin (+66.1%), Burkina Faso (+65.4%), Cote d'Ivoire (+5.5%), Senegal (+2.3%) and Mali (+1.2%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +66.1% from 2012-2021. While the share of Nigeria (+35 p.p.), Burkina Faso (+8.9 p.p.) and Benin (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Mali (-5.8 p.p.), Senegal (-7 p.p.) and Cote d'Ivoire (-19.6 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported groats and meal of cereals (excluding wheat) in ECOWAS, comprising 73% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with an 11% share of total imports. It was followed by Burkina Faso, with a 7.9% share.

In Nigeria, non-wheat groats imports increased at an average annual rate of +28.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+0.4% per year) and Burkina Faso (+73.4% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, approximately equating the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the import price increased by 42% against the previous year. Over the period under review, import prices attained the maximum in 2021 and is likely to continue growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Burkina Faso (+4.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform