ECOWAS: Dry Peas Market 2024

Dry Peas Market Size in ECOWAS

In 2021, the ECOWAS dry peas market increased by 32% to $X, rising for the second year in a row after two years of decline. The total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +54.6% against 2019 indices. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Dry Peas Production in ECOWAS

In value terms, dry peas production rose significantly to $X in 2021 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -32.6% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of 85% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2021 were Sierra Leone (X tons), Mali (X tons) and Niger (X tons).

From 2012 to 2021, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Mali (with a CAGR of +2.5%), while production for the other leaders experienced mixed trends in the production figures.

The average dry peas yield declined slightly to X kg per ha in 2021, flattening at 2020. Overall, the yield continues to indicate a slight slump. The most prominent rate of growth was recorded in 2016 with an increase of 3%. The level of yield peaked at X tons per ha in 2012; however, from 2013 to 2021, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The dry peas harvested area fell modestly to X ha in 2021, remaining stable against the previous year. Over the period under review, the harvested area, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 13% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2016 to 2021, the growth of the dry peas harvested area remained at a somewhat lower figure.

Dry Peas Exports

Exports in ECOWAS

In 2021, approx. X tons of peas (dry) were exported in ECOWAS; declining by -21.3% against 2020 figures. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when exports increased by 116% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, dry peas exports declined remarkably to $X in 2021. In general, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 99%. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mali dominates exports structure, reaching X tons, which was near 81% of total exports in 2021. It was distantly followed by Senegal (X tons), creating an 8.7% share of total exports. The following exporters - Niger (X tons) and Liberia (X tons) - each accounted for a 7.5% share of total exports.

Exports from Mali increased at an average annual rate of +9.1% from 2012 to 2021. At the same time, Liberia (+57.5%) and Niger (+19.0%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +57.5% from 2012-2021. By contrast, Senegal (-4.5%) illustrated a downward trend over the same period. While the share of Mali (+43 p.p.), Liberia (+3.6 p.p.) and Niger (+3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Senegal (-5 p.p.) displayed negative dynamics.

In value terms, Mali ($X) emerged as the largest dry peas supplier in ECOWAS, comprising 60% of total exports. The second position in the ranking was taken by Senegal ($X), with a 14% share of total exports. It was followed by Niger, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mali totaled +1.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (-4.1% per year) and Niger (+22.6% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, dropping by -20.4% against the previous year. Over the period under review, the export price continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2018 an increase of 14%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Niger ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Niger (+3.1%), while the other leaders experienced mixed trends in the export price figures.

Dry Peas Imports

Imports in ECOWAS

In 2021, purchases abroad of peas (dry) increased by 22% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +86.6% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 73%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, dry peas imports soared to $X in 2021. In general, imports continue to indicate notable growth. The growth pace was the most rapid in 2013 when imports increased by 63%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Senegal (X tons) and Togo (X tons) represented roughly 64% of total imports in 2021. Burkina Faso (X tons) held the next position in the ranking, followed by Benin (X tons), Nigeria (X tons), Liberia (X tons) and Gambia (X tons). All these countries together held approx. 32% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Gambia (with a CAGR of +29.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Togo ($X) constitutes the largest market for imported peas (dry) in ECOWAS, comprising 35% of total imports. The second position in the ranking was held by Senegal ($X), with a 16% share of total imports. It was followed by Nigeria, with a 13% share.

From 2012 to 2021, the average annual growth rate of value in Togo stood at +9.5%. In the other countries, the average annual rates were as follows: Senegal (-4.5% per year) and Nigeria (+26.8% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, with an increase of 31% against the previous year. Overall, the import price, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2014 an increase of 65%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Nigeria ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform