ECOWAS: Millet Market 2025

Millet Market Size in ECOWAS

The ECOWAS millet market rose rapidly to $X in 2022, surging by 6.5% against the previous year. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Millet Production in ECOWAS

In value terms, millet production reached $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 24% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Niger (X tons), Nigeria (X tons) and Mali (X tons), with a combined 71% share of total production. Senegal, Burkina Faso, Ghana and Guinea lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of +5.1%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average millet yield in ECOWAS amounted to X kg per ha, with an increase of 9.3% against 2021. Overall, the yield, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 12% against the previous year. Over the period under review, the millet yield reached the peak level at X kg per ha in 2018; however, from 2019 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of millet production in ECOWAS reached X ha, growing by 3.8% compared with the year before. Overall, the harvested area continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the harvested area increased by 7.2% against the previous year. Over the period under review, the harvested area dedicated to millet production attained the peak figure at X ha in 2018; however, from 2019 to 2022, the harvested area remained at a lower figure.

Millet Exports

Exports in ECOWAS

In 2022, approx. X tons of millet were exported in ECOWAS; growing by 61% on the previous year. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 476%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, millet exports surged to $X in 2022. Over the period under review, exports continue to indicate significant growth. The growth pace was the most rapid in 2013 when exports increased by 545%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

Mali represented the major exporting country with an export of about X tons, which recorded 53% of total exports. It was distantly followed by Burkina Faso (X tons) and Niger (X tons), together comprising a 45% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Mali (with a CAGR of +66.2%), while the other leaders experienced more modest paces of growth.

In value terms, Mali ($X), Niger ($X) and Burkina Faso ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 82% share of total exports.

Mali, with a CAGR of +54.9%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, with a decrease of -15.5% against the previous year. Over the period under review, the export price showed a pronounced descent. The most prominent rate of growth was recorded in 2014 an increase of 23%. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Niger ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (+2.5%), while the other leaders experienced a decline in the export price figures.

Millet Imports

Imports in ECOWAS

In 2022, the amount of millet imported in ECOWAS reduced to X tons, falling by -7.2% compared with 2021. Over the period under review, imports saw a dramatic descent. The most prominent rate of growth was recorded in 2021 when imports increased by 80% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, millet imports dropped significantly to $X in 2022. Overall, imports faced a deep slump. The pace of growth was the most pronounced in 2016 when imports increased by 175% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Ghana represented the major importing country with an import of about X tons, which recorded 69% of total imports. Benin (X tons) took the second position in the ranking, followed by Niger (X tons). All these countries together held approx. 19% share of total imports. The following importers - Nigeria (X tons) and Cote d'Ivoire (X tons) - each finished at a 7.5% share of total imports.

Imports into Ghana increased at an average annual rate of +37.2% from 2012 to 2022. At the same time, Benin (+136.6%) and Nigeria (+20.3%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +136.6% from 2012-2022. By contrast, Cote d'Ivoire (-16.1%) and Niger (-41.9%) illustrated a downward trend over the same period. While the share of Ghana (+69 p.p.), Benin (+13 p.p.), Nigeria (+3.7 p.p.) and Cote d'Ivoire (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Niger (-91.7 p.p.) displayed negative dynamics.

In value terms, Ghana ($X) constitutes the largest market for imported millet in ECOWAS, comprising 51% of total imports. The second position in the ranking was taken by Nigeria ($X), with a 24% share of total imports. It was followed by Cote d'Ivoire, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana amounted to +31.0%. In the other countries, the average annual rates were as follows: Nigeria (+31.2% per year) and Cote d'Ivoire (-4.2% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, shrinking by -21.8% against the previous year. In general, the import price, however, posted strong growth. The pace of growth was the most pronounced in 2020 when the import price increased by 131%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the 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 Nigeria ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+14.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform