ECOWAS: Market for Peel Of Citrus Fruit Or Melons 2024

Market Size for Peel Of Citrus Fruit Or Melons in ECOWAS

In 2021, the ECOWAS market for peel of citrus fruit or melons decreased by -4.4% to $X for the first time since 2018, thus ending a two-year rising trend. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +81.8% against 2018 indices. Over the period under review, the market reached the maximum level at $X in 2020, and then declined slightly in the following year.

Production of Peel Of Citrus Fruit Or Melons in ECOWAS

In value terms, citrus fruit or melons peel production declined slightly to $X in 2021 estimated in export price. The total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +77.4% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 70%. The level of production peaked at $X in 2020, and then shrank in the following year.

Exports of Peel Of Citrus Fruit Or Melons

Exports in ECOWAS

In 2021, the amount of peel of citrus fruit or melons exported in ECOWAS surged to X tons, growing by 25% on the previous year. Overall, exports enjoyed a buoyant increase. The growth pace was the most rapid in 2013 with an increase of 120%. The volume of export peaked at X tons in 2018; afterwards, it flattened through to 2021.

In value terms, citrus fruit or melons peel exports surged to $X in 2021. In general, exports saw buoyant growth. The pace of growth was the most pronounced in 2013 when exports increased by 117% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Ghana represented the major exporter of peel of citrus fruit or melons in ECOWAS, with the volume of exports finishing at X tons, which was approx. 60% of total exports in 2021. Senegal (X tons) held a 28% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (11%).

Ghana was also the fastest-growing in terms of the peel of citrus fruit or melons exports, with a CAGR of +26.9% from 2012 to 2021. At the same time, Nigeria (+17.3%) and Senegal (+9.9%) displayed positive paces of growth. From 2012 to 2021, the share of Ghana increased by +28 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) remains the largest citrus fruit or melons peel supplier in ECOWAS, comprising 73% of total exports. The second position in the ranking was held by Senegal ($X), with a 19% share of total exports.

In Ghana, citrus fruit or melons peel exports expanded at an average annual rate of +22.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (+11.1% per year) and Nigeria (+19.3% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, rising by 11% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by 21% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Nigeria ($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 (+1.7%), while the other leaders experienced mixed trends in the export price figures.

Imports of Peel Of Citrus Fruit Or Melons

Imports in ECOWAS

In 2021, supplies from abroad of peel of citrus fruit or melons increased by 125% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports posted a significant expansion. The pace of growth was the most pronounced in 2018 with an increase of 3,009% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, citrus fruit or melons peel imports soared to $X in 2021. Over the period under review, imports recorded a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 4,597% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Nigeria dominates imports structure, accounting for X tons, which was approx. 85% of total imports in 2021. Gambia (X tons) held the second position in the ranking, followed by Liberia (X tons). All these countries together held approx. 14% share of total imports.

Imports into Nigeria increased at an average annual rate of +56.5% from 2012 to 2021. At the same time, Liberia (+83.6%) and Gambia (+1.7%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +83.6% from 2012-2021. Nigeria (+30 p.p.), Gambia (+9.9 p.p.) and Liberia (+3.8 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported peel of citrus fruit or melons in ECOWAS, comprising 95% of total imports. The second position in the ranking was held by Gambia ($X), with a 2.2% share of total imports.

In Nigeria, citrus fruit or melons peel imports increased at an average annual rate of +72.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Gambia (+8.0% per year) and Liberia (+44.1% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, surging by 7.8% against the previous year. Overall, the import price, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2014 an increase of 74% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Nigeria ($X per ton), while Gambia ($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 (+10.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform