ECOWAS: Plantain Market 2024

Plantain Market Size in ECOWAS

The ECOWAS plantain market reduced modestly to $X in 2022, waning by X% against the previous year. Overall, consumption continues to indicate a noticeable contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Plantain Production in ECOWAS

In value terms, plantain production dropped to $X in 2022 estimated in export price. Over the period under review, production saw a deep contraction. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Ghana (X tons), Nigeria (X tons) and Cote d'Ivoire (X tons), together comprising X% of total production.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average yield of plantains in ECOWAS totaled X tons per ha, remaining constant against the year before. Over the period under review, the yield continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X%. The level of yield peaked at X tons per ha in 2019; however, from 2020 to 2022, 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.

In 2022, the harvested area of plantains in ECOWAS shrank to X ha, almost unchanged from 2021 figures. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2018 when the harvested area increased by X% against the previous year. The level of harvested area peaked at X ha in 2021, and then declined slightly in the following year.

Plantain Exports

Exports in ECOWAS

Plantain exports shrank significantly to X tons in 2022, with a decrease of X% against the previous year's figure. In general, exports, however, recorded a perceptible expansion. The pace of growth was the most pronounced in 2015 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted notably in the following year.

In value terms, plantain exports fell markedly to $X in 2022. Over the period under review, exports faced a deep downturn. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire dominates exports structure, accounting for X tons, which was near X% of total exports in 2022. Burkina Faso (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to plantain exports from Cote d'Ivoire stood at X%. At the same time, Burkina Faso (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. While the share of Burkina Faso (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (X p.p.) displayed negative dynamics.

In value terms, Cote d'Ivoire ($X) remains the largest plantain supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Burkina Faso ($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 stood at X%.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, reducing by X% against the previous year. In general, the export price saw a deep setback. The pace of growth appeared the most rapid in 2019 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat 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 Cote d'Ivoire ($X per ton), while Burkina Faso totaled $X per ton.

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

Plantain Imports

Imports in ECOWAS

In 2022, approx. X tons of plantains were imported in ECOWAS; which is down by X% on the previous year. In general, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2015 when imports increased by X,307% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, plantain imports contracted to $X in 2022. Over the period under review, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2015 when imports increased by X,972% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Senegal was the key importer of plantains in ECOWAS, with the volume of imports amounting to X tons, which was near X% of total imports in 2022. Burkina Faso (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Niger (X%). Mali (X tons) and Nigeria (X tons) held a relatively small share of total imports.

From 2013 to 2022, average annual rates of growth with regard to plantain imports into Senegal stood at X%. At the same time, Mali (X%), Nigeria (X%), Niger (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2013-2022. Senegal (X p.p.), Burkina Faso (X p.p.), Niger (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, Senegal ($X) constitutes the largest market for imported plantains in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Nigeria ($X), with an X% share of total imports. It was followed by Mali, with a X% share.

In Senegal, plantain imports expanded at an average annual rate of X% over the period from 2013-2022. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (X% per year) and Mali (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, increasing by X% against the previous year. In general, the import price showed buoyant growth. The growth pace was the most rapid in 2014 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 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 ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Mali (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform