ECOWAS: Nuts Market 2025

Nuts Market Size in ECOWAS

In 2022, the ECOWAS nuts market increased by X% to $X, rising for the second consecutive year after two years of decline. Overall, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Nuts Production in ECOWAS

In value terms, nuts production fell slightly to $X in 2022 estimated in export price. The total production indicated a modest 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, production increased by X% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Cote d'Ivoire (X tons), Nigeria (X tons) and Ghana (X tons), with a combined X% share of total production. Burkina Faso, Benin, Guinea-Bissau and Senegal lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Senegal (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average yield of nuts in ECOWAS contracted to X kg per ha, declining by X% compared with the previous year. In general, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the nuts yield reached the maximum level at X kg per ha in 2019; however, from 2020 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of nuts in ECOWAS shrank modestly to X ha, approximately mirroring 2021. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to nuts production reached the peak figure at X ha in 2021, and then shrank slightly in the following year.

Nuts Exports

Exports in ECOWAS

After two years of growth, overseas shipments of nuts decreased by X% to X tons in 2022. Total exports indicated strong growth from 2012 to 2022: its volume 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, exports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then fell in the following year.

In value terms, nuts exports shrank markedly to $X in 2022. Total exports indicated a measured 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Cote d'Ivoire (X tons) was the major exporter of nuts, constituting X% of total exports. Ghana (X tons) ranks second in terms of the total exports with a X% share, followed by Nigeria (X%), Burkina Faso (X%), Senegal (X%) and Guinea-Bissau (X%). Guinea (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to nuts exports from Cote d'Ivoire stood at X%. At the same time, Senegal (X%), Guinea (X%), Ghana (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Nigeria (X%) and Guinea-Bissau (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Cote d'Ivoire, Senegal and Burkina Faso increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest nuts supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports. It was followed by Nigeria, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire stood at X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Nigeria (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, waning by X% against the previous year. In general, the export price recorded a mild contraction. The growth pace was the most rapid in 2017 an increase of X% 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 failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Guinea-Bissau ($X per ton) and Ghana ($X per ton), while Nigeria ($X per ton) and Guinea ($X per ton) were amongst the lowest.

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

Nuts Imports

Imports in ECOWAS

In 2022, overseas purchases of nuts increased by X% to X tons, rising for the third year in a row after three years of decline. Overall, imports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, nuts imports surged to $X in 2022. Over the period under review, imports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Nigeria (X tons) represented the main importer of nuts, creating X% of total imports. Burkina Faso (X tons) ranks second in terms of the total imports with a X% share, followed by Togo (X%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Nigeria (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported nuts in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Burkina Faso ($X), with a X% share of total imports.

In Nigeria, nuts imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Burkina Faso (X% per year) and Togo (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, growing by X% against the previous year. In general, the import price saw slight growth. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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 Burkina Faso (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform