Western Africa: Non-Wheat Cereal Pellets Market 2024

Non-Wheat Cereal Pellets Market Size in Western Africa

The West African non-wheat cereal pellets market rose to $X in 2021, with an increase of 3.1% against the previous year. In general, consumption, however, recorded a buoyant increase. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Non-Wheat Cereal Pellets Production in Western Africa

In value terms, non-wheat cereal pellets production expanded remarkably to $X in 2021 estimated in export price. In general, production, however, continues to indicate prominent growth. The growth pace was the most rapid in 2018 when the production volume increased by 70%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Non-Wheat Cereal Pellets Exports

Exports in Western Africa

In 2021, the amount of cereal pellets (excluding wheat) exported in Western Africa skyrocketed to X tons, increasing by 41% on the previous year. Over the period under review, exports, however, continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by 319% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, non-wheat cereal pellets exports rose modestly to $X in 2021. Overall, exports, however, showed a sharp reduction. The most prominent rate of growth was recorded in 2018 with an increase of 431%. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Senegal represented the major exporter of cereal pellets (excluding wheat) in Western Africa, with the volume of exports amounting to X tons, which was near 61% of total exports in 2021. It was distantly followed by Ghana (X tons) and Cote d'Ivoire (X tons), together mixing up a 33% share of total exports. The following exporters - Nigeria (X tons) and Togo (X tons) - each amounted to a 5.6% share of total exports.

Exports from Senegal decreased at an average annual rate of -3.6% from 2012 to 2021. At the same time, Nigeria (+25.4%), Cote d'Ivoire (+22.6%) and Togo (+1.7%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +25.4% from 2012-2021. By contrast, Ghana (-23.7%) illustrated a downward trend over the same period. While the share of Senegal (+39 p.p.), Cote d'Ivoire (+7.6 p.p.), Nigeria (+2.7 p.p.) and Togo (+2.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Ghana (-49 p.p.) displayed negative dynamics.

In value terms, Senegal ($X) remains the largest non-wheat cereal pellets supplier in Western Africa, comprising 69% of total exports. The second position in the ranking was held by Ghana ($X), with a 21% share of total exports. It was followed by Cote d'Ivoire, with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Senegal amounted to -4.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (-31.7% per year) and Cote d'Ivoire (+20.6% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, reducing by -26.1% against the previous year. Overall, the export price recorded a deep slump. The most prominent rate of growth was recorded in 2020 when the export price increased by 44% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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 Togo ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+16.4%), while the other leaders experienced a decline in the export price figures.

Non-Wheat Cereal Pellets Imports

Imports in Western Africa

In 2021, purchases abroad of cereal pellets (excluding wheat) increased by 130% to X tons, rising for the third consecutive year after three years of decline. Overall, imports recorded prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 966% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, non-wheat cereal pellets imports skyrocketed to $X in 2021. In general, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 1,169% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

Nigeria (X tons) represented roughly 100% of total imports in 2021.

Nigeria was also the fastest-growing in terms of the cereal pellets (excluding wheat) imports, with a CAGR of +40.6% from 2012 to 2021. Nigeria (+79 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported cereal pellets (excluding wheat) in Western Africa.

In Nigeria, non-wheat cereal pellets imports expanded at an average annual rate of +65.7% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, rising by 31% against the previous year. Import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +8.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, non-wheat cereal pellets import price increased by +73.6% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Nigeria.

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to +17.9% per year.

Source: IndexBox Platform

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