ECOWAS: Lentil Market 2024

Lentil Market Size in ECOWAS

In 2022, the ECOWAS lentil market increased by 56% to $X, rising for the third consecutive year after two years of decline. In general, consumption enjoyed a prominent expansion. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Lentil Production in ECOWAS

In value terms, lentil production reached $X in 2022 estimated in export price. Over the period under review, production, however, recorded a pronounced setback. The most prominent rate of growth was recorded in 2014 with an increase of 8.6%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Nigeria (X tons) remains the largest lentil producing country in ECOWAS, comprising approx. 66% of total volume. Moreover, lentil production in Nigeria exceeded the figures recorded by the second-largest producer, Benin (X tons), threefold. Ghana (X tons) ranked third in terms of total production with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume in Nigeria stood at +2.0%. The remaining producing countries recorded the following average annual rates of production growth: Benin (+2.2% per year) and Ghana (+239.2% per year).

Lentil Exports

Exports in ECOWAS

In 2022, after two years of decline, there was significant growth in shipments abroad of lentils, when their volume increased by 54% to X tons. In general, exports, however, showed a mild reduction. The growth pace was the most rapid in 2014 with an increase of 106%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, lentil exports surged to $X in 2022. Overall, exports, however, recorded a deep downturn. The growth pace was the most rapid in 2014 with an increase of 156%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Nigeria was the largest exporter of lentils in ECOWAS, with the volume of exports reaching X tons, which was approx. 58% of total exports in 2022. Ghana (X tons) took a 22% share (based on physical terms) of total exports, which put it in second place, followed by Sierra Leone (9.8%) and Gambia (9.2%).

From 2012 to 2022, average annual rates of growth with regard to lentil exports from Nigeria stood at +1.3%. At the same time, Gambia (+45.0%) and Ghana (+36.3%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +45.0% from 2012-2022. By contrast, Sierra Leone (-15.4%) illustrated a downward trend over the same period. While the share of Ghana (+21 p.p.), Nigeria (+12 p.p.) and Gambia (+9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Sierra Leone (-37.1 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) remains the largest lentil supplier in ECOWAS, comprising 46% of total exports. The second position in the ranking was taken by Sierra Leone ($X), with a 19% share of total exports. It was followed by Ghana, with an 18% share.

In Nigeria, lentil exports declined by an average annual rate of -12.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Sierra Leone (-12.0% per year) and Ghana (+19.0% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, shrinking by -17.1% against the previous year. Over the period under review, the export price showed a deep contraction. The most prominent rate of growth was recorded in 2021 an increase of 34%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (+4.0%), while the other leaders experienced a decline in the export price figures.

Lentil Imports

Imports in ECOWAS

In 2022, overseas purchases of lentils were finally on the rise to reach X tons after four years of decline. In general, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 218%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, lentil imports soared to $X in 2022. Over the period under review, imports recorded a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of 305%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

Imports by Country

Niger was the main importer of lentils in ECOWAS, with the volume of imports reaching X tons, which was approx. 53% of total imports in 2022. It was distantly followed by Cabo Verde (X tons), Senegal (X tons), Nigeria (X tons) and Burkina Faso (X tons), together generating a 38% share of total imports. The following importers - Sierra Leone (X tons) and Togo (X tons) - together made up 4.4% of total imports.

Niger was also the fastest-growing in terms of the lentils imports, with a CAGR of +25.6% from 2012 to 2022. At the same time, Senegal (+15.0%), Cabo Verde (+13.2%) and Nigeria (+12.7%) displayed positive paces of growth. Togo experienced a relatively flat trend pattern. By contrast, Burkina Faso (-3.1%) and Sierra Leone (-15.7%) illustrated a downward trend over the same period. While the share of Niger (+41 p.p.), Senegal (+5.1 p.p.), Cabo Verde (+4.7 p.p.) and Nigeria (+2.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Togo (-1.9 p.p.), Burkina Faso (-13 p.p.) and Sierra Leone (-32.2 p.p.) displayed negative dynamics.

In value terms, Niger ($X) constitutes the largest market for imported lentils in ECOWAS, comprising 56% of total imports. The second position in the ranking was taken by Cabo Verde ($X), with a 12% share of total imports. It was followed by Nigeria, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in Niger stood at +28.1%. The remaining importing countries recorded the following average annual rates of imports growth: Cabo Verde (+11.0% per year) and Nigeria (+13.4% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, increasing by 9.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2017 when the import price increased by 28%. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+7.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform