ECOWAS: Dried Mushroom Market 2024

Dried Mushroom Market Size in ECOWAS

In 2022, the ECOWAS dried mushroom market increased by 53% to $X, rising for the third year in a row after two years of decline. In general, consumption showed a prominent expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Dried Mushroom Production in ECOWAS

In value terms, dried mushroom production declined modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 41%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Dried Mushroom Exports

Exports in ECOWAS

In 2022, shipments abroad of dried mushrooms and truffles was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, continue to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2018 with an increase of 156%. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, dried mushroom exports surged to $X in 2022. Over the period under review, exports, however, showed a deep contraction. The pace of growth appeared the most rapid in 2019 when exports increased by 107%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Benin was the main exporting country with an export of about X tons, which finished at 45% of total exports. Niger (X tons) took the second position in the ranking, distantly followed by Senegal (X tons) and Burkina Faso (X tons). All these countries together took approx. 47% share of total exports. The following exporters - Cote d'Ivoire (X kg) and Togo (X kg) - together made up 5.4% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Niger (with a CAGR of +93.9%), while the other leaders experienced more modest paces of growth.

In value terms, Burkina Faso ($X), Benin ($X) and Senegal ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 87% of total exports.

Burkina Faso, with a CAGR of +64.0%, recorded the highest rates of growth with regard to the value of exports, in terms of 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, falling by -17.8% against the previous year. Over the period under review, the export price continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2017 when the export price increased by 102% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the export prices remained at a somewhat 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 Burkina Faso ($X per ton), while Niger ($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 (+20.5%), while the other leaders experienced more modest paces of growth.

Dried Mushroom Imports

Imports in ECOWAS

In 2022, purchases abroad of dried mushrooms and truffles increased by 53% to X tons, rising for the third year in a row after two years of decline. Over the period under review, imports recorded a strong increase. The most prominent rate of growth was recorded in 2021 when imports increased by 54% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, dried mushroom imports declined to $X in 2022. Total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +79.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 49%. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

Togo was the largest importing country with an import of around X tons, which accounted for 44% of total imports. It was distantly followed by Senegal (X tons), Cabo Verde (X tons), Niger (X tons), Nigeria (X tons) and Cote d'Ivoire (X tons), together constituting a 43% share of total imports. Benin (X tons) followed a long way behind the leaders.

Togo was also the fastest-growing in terms of the dried mushrooms and truffles imports, with a CAGR of +42.4% from 2012 to 2022. At the same time, Niger (+26.7%), Cabo Verde (+15.3%), Cote d'Ivoire (+9.5%), Senegal (+3.5%) and Benin (+2.1%) displayed positive paces of growth. By contrast, Nigeria (-7.2%) illustrated a downward trend over the same period. While the share of Togo (+42 p.p.), Niger (+5.6 p.p.), Cabo Verde (+5 p.p.) and Cote d'Ivoire (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Benin (-2 p.p.), Senegal (-4.5 p.p.) and Nigeria (-18.9 p.p.) displayed negative dynamics.

In value terms, the largest dried mushroom importing markets in ECOWAS were Nigeria ($X), Senegal ($X) and Cabo Verde ($X), with a combined 55% share of total imports.

Among the main importing countries, Cabo Verde, with a CAGR of +21.7%, recorded the highest rates of growth with regard to the value of imports, 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 2022, with a decrease of -43.6% against the previous year. In general, the import price recorded a noticeable downturn. The most prominent rate of growth was recorded in 2019 when the import price increased by 31%. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+7.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform