ECOWAS: Phosphatic Fertilizer Market 2024

Phosphatic Fertilizer Market Size in ECOWAS

The ECOWAS phosphatic fertilizer market stood at $X in 2022, therefore, remained relatively stable against the previous year. Overall, consumption, however, posted resilient growth. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Phosphatic Fertilizer Production in ECOWAS

In value terms, phosphatic fertilizer production fell modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Phosphatic Fertilizer Exports

Exports in ECOWAS

In 2022, shipments abroad of phosphatic fertilizers increased by X% to X tons, rising for the second consecutive year after four years of decline. Overall, exports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2021 when exports increased by X%. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, phosphatic fertilizer exports soared to $X in 2022. In general, exports showed a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Cote d'Ivoire prevails in exports structure, resulting at X tons, which was near X% of total exports in 2022. It was distantly followed by Senegal (X tons), comprising a X% share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the phosphatic fertilizers exports, with a CAGR of X% from 2012 to 2022. Senegal (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total exports, while Senegal saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Cote d'Ivoire ($X) remains the largest phosphatic fertilizer supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire totaled X%.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price posted prominent growth. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices attained the peak figure in 2022 and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Senegal amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%).

Phosphatic Fertilizer Imports

Imports in ECOWAS

After three years of growth, purchases abroad of phosphatic fertilizers decreased by X% to X tons in 2022. Over the period under review, imports recorded a deep downturn. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, phosphatic fertilizer imports fell markedly to $X in 2022. In general, imports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Ghana dominates imports structure, accounting for X tons, which was near X% of total imports in 2022. It was distantly followed by Mali (X tons), mixing up a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to phosphatic fertilizer imports into Ghana stood at X%. Mali (X%) illustrated a downward trend over the same period. Ghana (X p.p.) and Mali (X 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, Ghana ($X) constitutes the largest market for imported phosphatic fertilizers in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Mali ($X), with a X% share of total imports.

In Ghana, phosphatic fertilizer imports decreased by an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the import price continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Mali amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (X%).

Source: IndexBox Platform