Western Africa: Cereal Germ Market 2024

Cereal Germ Market Size in Western Africa

The West African cereal germ market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Cereal Germ Production in Western Africa

In value terms, cereal germ production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.0% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the production volume increased by 19%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Cereal Germ Exports

Exports in Western Africa

In 2021, the amount of cereal germ exported in Western Africa skyrocketed to X tons, rising by 26% compared with 2020. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 82%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, cereal germ exports skyrocketed to $X in 2021. Overall, exports continue to indicate prominent growth. The pace of growth was the most pronounced in 2017 when exports increased by 140%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire was the key exporter of cereal germ in Western Africa, with the volume of exports finishing at X tons, which was near 56% of total exports in 2021. Senegal (X tons) ranks second in terms of the total exports with a 31% share, followed by Nigeria (7.8%). Ghana (X kg) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Cote d'Ivoire (with a CAGR of +79.2%), while the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) remains the largest cereal germ supplier in Western Africa, comprising 68% of total exports. The second position in the ranking was taken by Senegal ($X), with a 24% share of total exports. It was followed by Nigeria, with a 4.7% share.

From 2012 to 2021, the average annual growth rate of value in Cote d'Ivoire stood at +87.2%. In the other countries, the average annual rates were as follows: Senegal (+48.1% per year) and Nigeria (+35.1% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, with an increase of 2.2% against the previous year. Overall, the export price posted a prominent expansion. The pace of growth was the most pronounced in 2017 when the export price increased by 98% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+7.9%), while the other leaders experienced more modest paces of growth.

Cereal Germ Imports

Imports in Western Africa

In 2021, supplies from abroad of cereal germ decreased by -25.4% to X tons, falling for the fifth consecutive year after five years of growth. Overall, imports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 334% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, cereal germ imports skyrocketed to $X in 2021. Over the period under review, imports recorded a deep downturn. The pace of growth appeared the most rapid in 2015 when imports increased by 142%. The level of import peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Nigeria (X tons), distantly followed by Ghana (X tons), Gambia (X tons), Cabo Verde (X tons) and Burkina Faso (X tons) represented the main importers of cereal germ, together comprising 95% of total imports. Benin (X kg) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Cabo Verde (with a CAGR of +63.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Gambia ($X), Nigeria ($X) and Ghana ($X) were the countries with the highest levels of imports in 2021, together accounting for 65% of total imports. These countries were followed by Burkina Faso, Cabo Verde and Benin, which together accounted for a further 29%.

In terms of the main importing countries, Cabo Verde, with a CAGR of +53.7%, recorded 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 2021, picking up by 56% against the previous year. In general, the import price posted a pronounced increase. The pace of growth was the most pronounced in 2015 when the import price increased by 91% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Gambia (+12.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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