ECOWAS: Pimenta Pepper Market 2024

Pimenta Pepper Market Size in ECOWAS

The ECOWAS pimenta pepper market expanded slightly to $X in 2022, growing by 3.3% against the previous year. The market value increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Pimenta Pepper Production in ECOWAS

In value terms, pimenta pepper production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when the production volume increased by 36%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Cote d'Ivoire (X tons), Benin (X tons) and Ghana (X tons), with a combined 80% share of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Benin (with a CAGR of +10.1%), while production for the other leaders experienced more modest paces of growth.

The average pimenta pepper yield was estimated at X tons per ha in 2022, remaining constant against 2021 figures. The yield figure increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 11%. As a result, the yield reached the peak level of X tons per ha; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of pimenta pepper were harvested in ECOWAS; falling by -4.2% on the previous year's figure. Overall, the harvested area, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 9.1%. As a result, the harvested area reached the peak level of X ha, and then reduced modestly in the following year.

Pimenta Pepper Exports

Exports in ECOWAS

In 2022, overseas shipments of pimenta pepper were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports saw a strong expansion. The pace of growth was the most pronounced in 2016 when exports increased by 426% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, pimenta pepper exports skyrocketed to $X in 2022. Overall, exports showed a buoyant expansion. The pace of growth was the most pronounced in 2016 when exports increased by 408%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Nigeria prevails in exports structure, recording X tons, which was near 83% of total exports in 2022. It was distantly followed by Mali (X tons), generating a 9.3% share of total exports. The following exporters - Ghana (X tons) and Senegal (X tons) - together made up 5% of total exports.

Nigeria was also the fastest-growing in terms of the pimenta pepper exports, with a CAGR of +252.3% from 2012 to 2022. At the same time, Ghana (+8.3%) displayed positive paces of growth. By contrast, Mali (-1.7%) and Senegal (-11.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria increased by +83 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest pimenta pepper supplier in ECOWAS, comprising 83% of total exports. The second position in the ranking was taken by Ghana ($X), with a 4.9% share of total exports. It was followed by Senegal, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria totaled +241.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (+6.0% per year) and Senegal (-10.3% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, picking up by 41% against the previous year. Export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pimenta pepper export price increased by +72.3% against 2017 indices. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a 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 Senegal ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+3.8%), while the other leaders experienced mixed trends in the export price figures.

Pimenta Pepper Imports

Imports in ECOWAS

In 2022, purchases abroad of pimenta pepper increased by 163% to X tons, rising for the second year in a row after two years of decline. In general, imports recorded a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, pimenta pepper imports skyrocketed to $X in 2022. Overall, imports saw significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Nigeria (X tons) represented the largest importer of pimenta pepper, comprising 53% of total imports. Ghana (X tons) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by Benin (8.4%) and Niger (6.2%). The following importers - Cote d'Ivoire (X tons), Mali (X tons) and Senegal (X tons) - together made up 11% of total imports.

Imports into Nigeria increased at an average annual rate of +45.2% from 2012 to 2022. At the same time, Benin (+66.4%), Ghana (+66.3%), Niger (+24.7%), Mali (+17.7%) and Cote d'Ivoire (+17.2%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +66.4% from 2012-2022. By contrast, Senegal (-15.9%) illustrated a downward trend over the same period. While the share of Nigeria (+48 p.p.), Ghana (+16 p.p.), Benin (+8.2 p.p.) and Niger (+3.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Senegal (-65 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported pimenta pepper in ECOWAS, comprising 62% of total imports. The second position in the ranking was taken by Ghana ($X), with a 15% share of total imports. It was followed by Niger, with a 6.4% share.

In Nigeria, pimenta pepper imports increased at an average annual rate of +57.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (+55.3% per year) and Niger (+25.1% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, approximately equating the previous year. Overall, the import price, however, posted a prominent increase. The pace of growth was the most pronounced in 2014 an increase of 110%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+27.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform