Western Africa: Bacon And Ham Market 2024

Bacon And Ham Market Size in Western Africa

In 2022, the West African bacon and ham market decreased by -3.8% to $X for the first time since 2016, thus ending a five-year rising trend. The total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +84.8% against 2016 indices. Over the period under review, the market reached the peak level at $X in 2021, and then dropped in the following year.

Bacon And Ham Production in Western Africa

In value terms, bacon and ham production reduced markedly to $X in 2022 estimated in export price. Overall, production, however, recorded a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 1,402,800%. As a result, production attained the peak level of $X, and then fell dramatically in the following year.

Bacon And Ham Exports

Exports in Western Africa

After three years of growth, shipments abroad of bacon, ham and other dried, salted or smoked pig meat decreased by -43.6% to X tons in 2022. Overall, exports showed a pronounced decline. The growth pace was the most rapid in 2021 with an increase of 79%. As a result, the exports reached the peak of X tons, and then contracted rapidly in the following year.

In value terms, bacon and ham exports declined remarkably to $X in 2022. Over the period under review, exports continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2021 with an increase of 223%. As a result, the exports attained the peak of $X, and then dropped remarkably in the following year.

Exports by Country

Senegal (X tons) and Niger (X tons) represented the major exporters of bacon, ham and other dried, salted or smoked pig meat in 2022, reaching near 48% and 40% of total exports, respectively. It was distantly followed by Nigeria (X kg), mixing up a 12% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +146.5%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Senegal ($X) emerged as the largest bacon and ham supplier in Western Africa, comprising 68% of total exports. The second position in the ranking was held by Niger ($X), with a 30% share of total exports.

In Senegal, bacon and ham exports plunged by an average annual rate of -3.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Niger (+114.7% per year) and Nigeria (-3.7% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, which is down by -33.1% against the previous year. Export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bacon and ham export price increased by +20.7% against 2020 indices. The growth pace was the most rapid in 2021 when the export price increased by 81% against the previous year. As a result, the export price attained the peak level of $X per ton, and then contracted markedly in the following year.

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 (+5.2%), while the other leaders experienced a decline in the export price figures.

Bacon And Ham Imports

Imports in Western Africa

In 2022, the amount of bacon, ham and other dried, salted or smoked pig meat imported in Western Africa reached X tons, stabilizing at the year before. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 38%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, bacon and ham imports reduced to $X in 2022. Total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +92.0% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 26%. Over the period under review, imports hit record highs at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, Ghana (X tons) was the key importer of bacon, ham and other dried, salted or smoked pig meat, creating 32% of total imports. It was distantly followed by Cabo Verde (X tons), Liberia (X tons), Sierra Leone (X tons) and Nigeria (X tons), together generating a 47% share of total imports. The following importers - Mali (X tons), Benin (X tons), Saint Helena, Ascension and Tristan da Cunha (X tons), Cote d'Ivoire (X tons) and Senegal (X tons) - together made up 16% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Mali (with a CAGR of +33.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported bacon, ham and other dried, salted or smoked pig meat in Western Africa, comprising 36% of total imports. The second position in the ranking was held by Cabo Verde ($X), with a 17% share of total imports. It was followed by Liberia, with a 13% share.

In Ghana, bacon and ham imports increased at an average annual rate of +3.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cabo Verde (+9.5% per year) and Liberia (-2.2% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, which is down by -6.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The pace of growth was the most pronounced in 2020 when the import price increased by 26%. Over the period under review, import prices attained the maximum at $X per ton in 2021, and then dropped in the following year.

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 ($X per ton), while Sierra Leone ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Liberia (+7.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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