ECOWAS: Fungicide And Bactericide Market 2024

Fungicide And Bactericide Market Size in ECOWAS

In 2021, after four years of growth, there was decline in the ECOWAS fungicide and bactericide market, when its value decreased by -3.6% to $X. Overall, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2020, and then dropped slightly in the following year.

Fungicide And Bactericide Production in ECOWAS

In value terms, fungicide and bactericide production contracted slightly to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 29%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Fungicide And Bactericide Exports

Exports in ECOWAS

In 2021, after four years of growth, there was significant decline in shipments abroad of fungicides, bactericides and seed treatments, when their volume decreased by -7.7% to X tons. Overall, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 159% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020, and then shrank in the following year.

In value terms, fungicide and bactericide exports amounted to $X in 2021. In general, exports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 104% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X tons) and Nigeria (X tons) represented roughly 82% of total exports in 2021. It was distantly followed by Senegal (X tons), making up a 16% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +41.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Senegal ($X) and Nigeria ($X) were the countries with the highest levels of exports in 2021, together comprising 95% of total exports.

Among the main exporting countries, Senegal, with a CAGR of +41.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, growing by 12% against the previous year. In general, the export price, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2015 when the export price increased by 50%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+8.6%), while the other leaders experienced a decline in the export price figures.

Fungicide And Bactericide Imports

Imports in ECOWAS

In 2021, approx. X tons of fungicides, bactericides and seed treatments were imported in ECOWAS; with a decrease of -24.5% on 2020 figures. Overall, imports recorded a perceptible reduction. The pace of growth was the most pronounced in 2020 with an increase of 69%. As a result, imports reached the peak of X tons, and then plummeted in the following year.

In value terms, fungicide and bactericide imports dropped to $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 72% against the previous year. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

The purchases of the three major importers of fungicides, bactericides and seed treatments, namely Nigeria, Ghana and Cote d'Ivoire, represented more than two-thirds of total import. Burkina Faso (X tons), Senegal (X tons) and Guinea (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Burkina Faso (with a CAGR of +16.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fungicide and bactericide importing markets in ECOWAS were Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X), together comprising 93% of total imports. Senegal, Burkina Faso and Guinea lagged somewhat behind, together accounting for a further 5.9%.

Burkina Faso, with a CAGR of +13.7%, recorded 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 2021, rising by 15% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.8%. The most prominent rate of growth was recorded in 2014 when the import price increased by 26% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Ghana ($X per ton), while Guinea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+9.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform