ECOWAS: Temporarily Preserved Vegetable Market 2024

Temporarily Preserved Vegetable Market Size in ECOWAS

In 2022, the ECOWAS temporarily preserved vegetable market decreased by -21.9% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X, and then reduced rapidly in the following year.

Temporarily Preserved Vegetable Production in ECOWAS

In value terms, temporarily preserved vegetable production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 when the production volume increased by 36%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Temporarily Preserved Vegetable Exports

Exports in ECOWAS

In 2022, overseas shipments of vegetables (temporarily preserved) decreased by -47.4% to X tons, falling for the second year in a row after two years of growth. Overall, exports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2017 when exports increased by 344%. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, temporarily preserved vegetable exports declined dramatically to $X in 2022. Over the period under review, exports continue to indicate a pronounced decrease. The pace of growth was the most pronounced in 2017 when exports increased by 291% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Benin (X tons) and Burkina Faso (X tons) represented roughly 63% of total exports in 2022. Ghana (X tons) ranks next in terms of the total exports with a 14% share, followed by Niger (11%) and Cote d'Ivoire (9.7%). The following exporters - Senegal (X kg) and Nigeria (X kg) - each recorded a 3.4% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Benin (with a CAGR of +14.0%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Niger ($X) remains the largest temporarily preserved vegetable supplier in ECOWAS, comprising 64% of total exports. The second position in the ranking was held by Burkina Faso ($X), with a 12% share of total exports. It was followed by Benin, with a 9.4% share.

In Niger, temporarily preserved vegetable exports expanded at an average annual rate of +3.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Burkina Faso (-0.2% per year) and Benin (+22.2% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, waning by -6.5% against the previous year. In general, the export price, however, continues to indicate resilient growth. The pace of growth was the most pronounced in 2021 an increase of 216% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped in the following year.

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 Niger ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+32.9%), while the other leaders experienced more modest paces of growth.

Temporarily Preserved Vegetable Imports

Imports in ECOWAS

In 2022, after two years of growth, there was significant decline in supplies from abroad of vegetables (temporarily preserved), when their volume decreased by -59.4% to X tons. In general, imports, however, saw a temperate expansion. The pace of growth appeared the most rapid in 2021 with an increase of 138% against the previous year. As a result, imports attained the peak of X tons, and then contracted dramatically in the following year.

In value terms, temporarily preserved vegetable imports shrank sharply to $X in 2022. Over the period under review, imports, however, posted a pronounced increase. The pace of growth was the most pronounced in 2021 with an increase of 119% against the previous year. As a result, imports attained the peak of $X, and then shrank rapidly in the following year.

Imports by Country

The purchases of the three major importers of vegetables (temporarily preserved), namely Cote d'Ivoire, Nigeria and Senegal, represented more than two-thirds of total import. Mali (X tons) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (5.7%) and Niger (4.8%).

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +65.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Mali ($X) and Senegal ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 67% share of total imports. Nigeria, Ghana and Niger lagged somewhat behind, together comprising a further 25%.

Niger, with a CAGR of +55.2%, 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

In 2022, the import price in ECOWAS amounted to $X per ton, increasing by 27% against the previous year. In general, the import price, however, saw a perceptible contraction. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, 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 Mali ($X per ton), while Nigeria ($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 (+0.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform