ECOWAS: Yams Market 2024

Yams Market Size in ECOWAS

The ECOWAS yams market contracted modestly to $X in 2022, shrinking by -3.5% against the previous year. The market value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Yams Production in ECOWAS

In value terms, yams production shrank to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 58%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

The country with the largest volume of yams production was Nigeria (X tons), accounting for 71% of total volume. Moreover, yams production in Nigeria exceeded the figures recorded by the second-largest producer, Ghana (X tons), sixfold. The third position in this ranking was taken by Cote d'Ivoire (X tons), with an 11% share.

In Nigeria, yams production increased at an average annual rate of +4.5% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Ghana (+2.4% per year) and Cote d'Ivoire (+3.2% per year).

The average yams yield declined to X tons per ha in 2022, which is down by -1.6% on the year before. Overall, the yield, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 11% against the previous year. Over the period under review, the yams yield reached the peak level at X tons per ha in 2018; however, from 2019 to 2022, the yield stood at a somewhat 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 total area harvested in terms of yams production in ECOWAS was estimated at X ha, remaining stable against the previous year's figure. The harvested area increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 with an increase of 19%. As a result, the harvested area attained the peak level of X ha. From 2020 to 2022, the growth of the yams harvested area failed to regain momentum.

Yams Exports

Exports in ECOWAS

Yams exports contracted modestly to X tons in 2022, waning by -3% on the previous year's figure. Over the period under review, exports, however, continue to indicate strong growth. The pace of growth was the most pronounced in 2017 when exports increased by 36%. The volume of export peaked at X tons in 2021, and then shrank slightly in the following year.

In value terms, yams exports dropped to $X in 2022. Overall, exports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of 46% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Ghana prevails in exports structure, reaching X tons, which was near 97% of total exports in 2022. Nigeria (X tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to yams exports from Ghana stood at +9.9%. At the same time, Nigeria (+34.7%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +34.7% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) remains the largest yams supplier in ECOWAS, comprising 98% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 0.4% share of total exports.

In Ghana, yams exports increased at an average annual rate of +6.9% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, dropping by -5.6% against the previous year. Over the period under review, the export price showed a noticeable slump. The growth pace was the most rapid in 2021 an increase of 13%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Nigeria amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (-2.7%).

Yams Imports

Imports in ECOWAS

In 2022, the amount of yams imported in ECOWAS soared to X tons, jumping by 50% against 2021 figures. In general, imports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 86%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, yams imports rose remarkably to $X in 2022. Over the period under review, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 91%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Niger (X tons), Mali (X tons) and Burkina Faso (X tons) represented the largest importer of yams in ECOWAS, constituting 96% of total import.

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of +60.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mali ($X), Niger ($X) and Burkina Faso ($X) constituted the countries with the highest levels of imports in 2022, with a combined 93% share of total imports.

Among the main importing countries, Burkina Faso, with a CAGR of +28.4%, saw the highest rates of growth with regard to the value of imports, 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 2022, falling by -27.1% against the previous year. Overall, the import price continues to indicate a abrupt setback. The growth pace was the most rapid in 2013 when the import price increased by 88%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mali ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (-9.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform