ECOWAS: Prepared Mustard Market 2024

Prepared Mustard Market Size in ECOWAS

The ECOWAS prepared mustard market rose to $X in 2021, picking up by 5% against the previous year. Overall, consumption, however, posted a prominent increase. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Prepared Mustard Production in ECOWAS

In value terms, prepared mustard production reached $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate resilient growth. The growth pace was the most rapid in 2018 when the production volume increased by 50% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Prepared Mustard Exports

Exports in ECOWAS

Prepared mustard exports soared to X tons in 2021, with an increase of 51% compared with the year before. Overall, exports, however, faced a abrupt contraction. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, prepared mustard exports soared to $X in 2021. In general, exports, however, saw a abrupt slump. The growth pace was the most rapid in 2016 with an increase of 24% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Senegal was the major exporting country with an export of about X tons, which accounted for 78% of total exports. It was distantly followed by Ghana (X tons), creating a 17% share of total exports. Togo (X tons) followed a long way behind the leaders.

Exports from Senegal decreased at an average annual rate of -12.4% from 2012 to 2021. At the same time, Togo (+21.1%) and Ghana (+14.6%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +21.1% from 2012-2021. From 2012 to 2021, the share of Ghana increased by +16 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest prepared mustard supplier in ECOWAS, comprising 69% of total exports. The second position in the ranking was held by Ghana ($X), with a 21% share of total exports.

In Senegal, prepared mustard exports shrank by an average annual rate of -19.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ghana (+15.7% per year) and Togo (+15.9% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, declining by -22.7% against the previous year. Over the period under review, the export price continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2013 when the export price increased by 6.8% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+0.9%), while the other leaders experienced a decline in the export price figures.

Prepared Mustard Imports

Imports in ECOWAS

In 2021, overseas purchases of prepared mustard decreased by -13.2% to X tons for the first time since 2011, thus ending a nine-year rising trend. Total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +97.9% against 2012 indices. The growth pace was the most rapid in 2013 with an increase of 27%. Over the period under review, imports attained the peak figure at X tons in 2020, and then contracted in the following year.

In value terms, prepared mustard imports dropped to $X in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +8.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +46.0% against 2016 indices. The most prominent rate of growth was recorded in 2020 with an increase of 31%. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2021, Mali (X tons), Gambia (X tons) and Cote d'Ivoire (X tons) represented the main importer of prepared mustard in ECOWAS, achieving 65% of total import. Burkina Faso (X tons) ranks next in terms of the total imports with a 9.7% share, followed by Senegal (7%) and Guinea (6.5%). Benin (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Gambia (with a CAGR of +14.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mali ($X), Gambia ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2021, together accounting for 66% of total imports.

Gambia, with a CAGR of +16.2%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, rising by 7.2% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 15% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Cote d'Ivoire ($X per ton) and Mali ($X per ton), while Benin ($X per ton) and Guinea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform