ECOWAS: Maize Bran Market 2024

Maize Bran Market Size in ECOWAS

The ECOWAS maize bran market rose remarkably to $X in 2022, surging by X% against the previous year. The total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Maize Bran Production in ECOWAS

In value terms, maize bran production expanded sharply to $X in 2022 estimated in export price. The total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Maize Bran Exports

Exports in ECOWAS

In 2022, shipments abroad of maize bran increased by X% to X tons, rising for the fourth consecutive year after three years of decline. In general, exports posted significant growth. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, maize bran exports surged to $X in 2022. Over the period under review, exports showed a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Nigeria prevails in exports structure, amounting to X tons, which was approx. X% of total exports in 2022. Benin (X tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the maize bran exports, with a CAGR of X% from 2012 to 2022. At the same time, Benin (X%) displayed positive paces of growth. While the share of Nigeria (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Benin (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) remains the largest maize bran supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Benin ($X), with a X% share of total exports.

In Nigeria, maize bran exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2015 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Benin ($X per ton), while Nigeria amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%).

Maize Bran Imports

Imports in ECOWAS

Maize bran imports surged to X tons in 2022, picking up by X% against the previous year's figure. In general, imports saw a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, maize bran imports rose to $X in 2022. Over the period under review, imports posted a modest increase. The most prominent rate of growth was recorded in 2019 when imports increased by X%. The level of import peaked at $X in 2013; afterwards, it flattened through to 2022.

Imports by Country

In 2022, Niger (X tons) was the main importer of maize bran, comprising X% of total imports. It was distantly followed by Ghana (X tons), mixing up a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to maize bran imports into Niger stood at X%. At the same time, Ghana (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Niger and Ghana increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported maize bran in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Niger ($X), with an X% share of total imports.

In Ghana, maize bran imports expanded at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the import price continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%).

Source: IndexBox Platform