ECOWAS: Sugar Crop Market 2024

Sugar Crop Market Size in ECOWAS

The ECOWAS sugar crop market rose to $X in 2022, picking up by X% against the previous year. Overall, consumption continues to indicate a abrupt shrinkage. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Sugar Crop Production in ECOWAS

In value terms, sugar crop production reduced to $X in 2022 estimated in export price. In general, production, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

The countries with the highest volumes of production in 2022 were Cote d'Ivoire (X tons), Nigeria (X tons) and Senegal (X tons), with a combined X% share of total production. Mali, Burkina Faso, Niger and Guinea lagged somewhat behind, together comprising a further X%.

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

The average sugar crop yield reached X tons per ha in 2022, remaining constant against the year before. In general, the yield, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the sugar crop yield reached the peak level at X tons per ha in 2012; however, from 2013 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of sugar crops production in ECOWAS declined slightly to X ha, remaining stable against 2021. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2014 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to sugar crop production attained the peak figure at X ha in 2021, and then reduced in the following year.

Sugar Crop Exports

Exports in ECOWAS

In 2022, overseas shipments of sugar crops increased by X% to X tons, rising for the second year in a row after two years of decline. In general, exports showed a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sugar crop exports shrank to $X in 2022. Over the period under review, exports posted prominent growth. The pace of growth was the most pronounced in 2019 when exports increased by X%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Niger prevails in exports structure, reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by Ghana (X tons), committing a X% share of total exports. Guinea (X tons) followed a long way behind the leaders.

Exports from Niger increased at an average annual rate of X% from 2012 to 2022. At the same time, Guinea (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. Guinea (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest sugar crop supplying countries in ECOWAS were Niger ($X), Ghana ($X) and Guinea ($X), together accounting for X% of total exports.

Among the main exporting countries, Guinea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the export price recorded a perceptible reduction. The pace of growth was the most pronounced in 2019 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2020; however, from 2021 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 Ghana ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced a decline in the export price figures.

Sugar Crop Imports

Imports in ECOWAS

For the third consecutive year, ECOWAS recorded decline in overseas purchases of sugar crops, which decreased by X% to X tons in 2022. Over the period under review, imports showed a deep contraction. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, sugar crop imports dropped markedly to $X in 2022. In general, imports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X tons) represented the major importer of sugar crops, generating X% of total imports. Cabo Verde (X tons) took the second position in the ranking, distantly followed by Niger (X tons) and Cote d'Ivoire (X tons). All these countries together held approx. X% share of total imports. Senegal (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to sugar crop imports into Nigeria stood at X%. At the same time, Cabo Verde (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Cote d'Ivoire (X%) and Niger (X%) illustrated a downward trend over the same period. Nigeria (X p.p.), Cabo Verde (X p.p.), Cote d'Ivoire (X p.p.) and Senegal (X p.p.) significantly strengthened its position in terms of the total imports, while Niger saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported sugar crops in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Cabo Verde ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Cabo Verde (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, growing by X% against the previous year. In general, the import price continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2013 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 2014 to 2022, the import prices failed to regain momentum.

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 Cote d'Ivoire ($X per ton), while Cabo Verde ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform