Western Africa: Apricot Market 2024

Apricot Market Size in Western Africa

The West African apricot market stood at $X in 2022, surging by 1.8% against the previous year. In general, consumption saw temperate growth. Over the period under review, the market reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Apricot Production in Western Africa

In value terms, apricot production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 9.3% against the previous year. As a result, production reached the peak level of $X; afterwards, it flattened through to 2022.

The countries with the highest volumes of production in 2022 were Benin (X tons), Burkina Faso (X tons) and Guinea-Bissau (X tons), together accounting for 100% of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Burkina Faso (with a CAGR of +2.3%), while production for the other leaders experienced more modest paces of growth.

Apricot Exports

Exports in Western Africa

After five years of decline, overseas shipments of apricots increased by 889% to X kg in 2022. In general, exports posted a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 198,047% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, apricot exports soared to $X in 2022. Overall, exports showed buoyant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 346,757% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Cote d'Ivoire (X kg) represented the main exporter of apricots, generating 82% of total exports. It was distantly followed by Nigeria (X kg), committing a 15% share of total exports. Senegal (X kg) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to apricot exports from Cote d'Ivoire stood at -25.7%. At the same time, Senegal (+6.5%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +6.5% from 2012-2022. By contrast, Nigeria (-8.3%) illustrated a downward trend over the same period. Cote d'Ivoire (+82 p.p.) and Senegal (+3.4 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by -56.9% from 2012 to 2022, respectively.

In value terms, Cote d'Ivoire ($X) emerged as the largest apricot supplier in Western Africa, comprising 90% of total exports. The second position in the ranking was held by Senegal ($X), with a 7.2% share of total exports.

In Cote d'Ivoire, apricot exports plunged by an average annual rate of -13.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (+26.8% per year) and Nigeria (-13.1% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, picking up by 243% against the previous year. Overall, the export price recorded a prominent expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Nigeria ($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 (+19.0%), while the other leaders experienced mixed trends in the export price figures.

Apricot Imports

Imports in Western Africa

In 2022, purchases abroad of apricots increased by 6.8% to X tons, rising for the second consecutive year after two years of decline. In general, imports showed a prominent increase. The pace of growth appeared the most rapid in 2018 when imports increased by 186%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, apricot imports reached $X in 2022. Overall, imports showed a remarkable increase. The pace of growth was the most pronounced in 2018 when imports increased by 173%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The purchases of the four major importers of apricots, namely Mauritania, Cote d'Ivoire, Cabo Verde and Senegal, represented more than two-thirds of total import. Burkina Faso (X tons) ranks next in terms of the total imports with a 10% share, followed by Mali (8.5%). Ghana (X kg) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Burkina Faso (with a CAGR of +76.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest apricot importing markets in Western Africa were Cote d'Ivoire ($X), Cabo Verde ($X) and Mauritania ($X), with a combined 69% share of total imports. Senegal, Ghana, Burkina Faso and Mali lagged somewhat behind, together comprising a further 22%.

Burkina Faso, with a CAGR of +66.4%, 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 Western Africa amounted to $X per ton, with a decrease of -4.2% against the previous year. Overall, the import price continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2016 when the import price increased by 31% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 Cote d'Ivoire ($X per ton), while Senegal ($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 (-0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :