Report Update Nov 1, 2024

ECOWAS - Sunflower Oilcake - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Sunflower Oilcake Market 2024

Sunflower Oilcake Market Size in ECOWAS

The ECOWAS sunflower oilcake market contracted slightly to $X in 2021, remaining constant against the previous year. The market value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Sunflower Oilcake Production in ECOWAS

In value terms, sunflower oilcake production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2014 when the production volume increased by 20%. The level of production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Sunflower Oilcake Exports

Exports in ECOWAS

Sunflower oilcake exports shrank remarkably to X kg in 2021, reducing by -99.4% compared with the previous year's figure. Over the period under review, exports faced a dramatic contraction. The most prominent rate of growth was recorded in 2015 with an increase of 6.2%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, sunflower oilcake exports contracted markedly to $X in 2021. In general, exports continue to indicate a precipitous decline. The smallest decline of -4.2% was in 2015. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Nigeria (X kg), together recording 100% of total export.

Nigeria experienced a relatively flat trend pattern with regard to volume of exports of sunflower oilcake. While the share of Nigeria (+99 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

From 2014 to 2021, the average annual growth rate of value in Nigeria was relatively modest.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, with an increase of 44% against the previous year. In general, the export price continues to indicate a significant increase. The most prominent rate of growth was recorded in 2016 an increase of 248%. Over the period under review, the export prices reached the peak figure at $X per ton in 2018; afterwards, it flattened through to 2021.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2014 to 2021, the rate of growth in terms of prices for Nigeria amounted to 0.0% per year.

Sunflower Oilcake Imports

Imports in ECOWAS

In 2021, after two years of growth, there was significant decline in supplies from abroad of sunflower oilcake, when their volume decreased by -6.4% to X tons. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 93%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, sunflower oilcake imports shrank to $X in 2021. Over the period under review, imports showed a noticeable setback. The pace of growth was the most pronounced in 2017 when imports increased by 70%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Senegal (X tons) was the main importer of sunflower oilcake, mixing up 79% of total imports. It was distantly followed by Cabo Verde (X tons), generating a 19% share of total imports. Ghana (X tons) took a minor share of total imports.

Imports into Senegal decreased at an average annual rate of -2.8% from 2012 to 2021. At the same time, Ghana (+79.9%) and Cabo Verde (+26.4%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +79.9% from 2012-2021. From 2012 to 2021, the share of Cabo Verde and Ghana increased by +17 and +1.8 percentage points, respectively.

In value terms, Senegal ($X) constitutes the largest market for imported sunflower oilcake in ECOWAS, comprising 74% of total imports. The second position in the ranking was taken by Cabo Verde ($X), with a 24% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Senegal amounted to -6.9%. The remaining importing countries recorded the following average annual rates of imports growth: Cabo Verde (+28.5% per year) and Ghana (+74.1% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, falling by -2.1% against the previous year. Over the period under review, the import price continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2016 an increase of 9.4%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Cabo Verde ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cabo Verde (+1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

This report provides an in-depth analysis of the sunflower oilcake market in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10414150 - Oilcake and other solid residues resulting from the extraction of sunflower seed fats or oils

Country coverage:

Benin
Burkina Faso
Cabo Verde
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Niger
Nigeria
Senegal
Sierra Leone
Togo
Cote d'Ivoire

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in ECOWAS, split by region and country
Trade (exports and imports) in ECOWAS
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023