Western Africa: Cereal Flour Market 2024

Cereal Flour Market Size in Western Africa

The West African cereal flour market rose slightly to $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Cereal Flour Production in Western Africa

In value terms, cereal flour production expanded remarkably to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Cereal Flour Exports

Exports in Western Africa

Cereal flour exports shrank significantly to X tons in 2022, reducing by X% against the year before. Overall, exports showed a pronounced descent. The growth pace was the most rapid in 2015 when exports increased by X%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, cereal flour exports contracted sharply to $X in 2022. In general, exports recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The shipments of the three major exporters of cereal flours, namely Ghana, Togo and Senegal, represented more than two-thirds of total export. It was distantly followed by Cote d'Ivoire (X tons), creating an X% share of total exports. Nigeria (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Ghana (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest cereal flour supplying countries in Western Africa were Ghana ($X), Senegal ($X) and Togo ($X), with a combined X% share of total exports.

In terms of the main exporting countries, Togo, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then declined in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Senegal ($X per ton) and Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) and Togo ($X per ton) were amongst the lowest.

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

Cereal Flour Imports

Imports in Western Africa

In 2022, overseas purchases of cereal flours decreased by X% to X tons, falling for the third year in a row after three years of growth. Overall, imports saw a noticeable descent. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, cereal flour imports expanded to $X in 2022. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Sierra Leone (X tons), Ghana (X tons), Niger (X tons), Guinea-Bissau (X tons), Benin (X tons) and Nigeria (X tons) represented the key importer of cereal flours in Western Africa, creating X% of total import. Mali (X tons) held a relatively small share of total imports.

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

In value terms, the largest cereal flour importing markets in Western Africa were Nigeria ($X), Sierra Leone ($X) and Ghana ($X), together comprising X% of total imports.

Among the main importing countries, Nigeria, with a CAGR of X%, saw the highest growth rate of 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 Western Africa stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Benin ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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