Western Africa: Chestnut Market 2025

Chestnut Market Size in Western Africa

The West African chestnut market rose markedly to $X in 2021, picking up by 14% against the previous year. Over the period under review, consumption enjoyed a strong increase. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in years to come.

Chestnut Production in Western Africa

In value terms, chestnut production fell modestly to $X in 2021 estimated in export price. The total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +83.2% against 2012 indices. The most prominent rate of growth was recorded in 2015 with an increase of 43% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then contracted modestly in the following year.

Cote d'Ivoire (X tons) constituted the country with the largest volume of chestnut production, accounting for 100% of total volume.

From 2012 to 2021, the average annual growth rate of volume in Cote d'Ivoire amounted to +2.2%.

Chestnut Exports

Exports in Western Africa

In 2021, the amount of chestnuts exported in Western Africa fell significantly to X tons, dropping by -75.4% compared with the previous year's figure. In general, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 725% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, chestnut exports declined sharply to $X in 2021. Over the period under review, exports saw a mild setback. The growth pace was the most rapid in 2017 with an increase of 935% against the previous year. The level of export peaked at $X in 2020, and then declined dramatically in the following year.

Exports by Country

In 2021, Cote d'Ivoire (X tons) was the largest exporter of chestnuts in Western Africa, generating 100% of total export.

Cote d'Ivoire was also the fastest-growing in terms of the chestnuts exports, with a CAGR of -13.0% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) also remains the largest chestnut supplier in Western Africa.

In Cote d'Ivoire, chestnut exports plunged by an average annual rate of -1.4% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, reducing by -10.7% against the previous year. Overall, the export price, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2014 when the export price increased by 94% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2020, and then shrank in the following year.

As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.

From 2012 to 2021, the rate of growth in terms of prices for Cote d'Ivoire amounted to +13.3% per year.

Chestnut Imports

Imports in Western Africa

In 2021, supplies from abroad of chestnuts decreased by -62.9% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, imports saw a abrupt contraction. The growth pace was the most rapid in 2018 when imports increased by 216%. The volume of import peaked at X tons in 2020, and then fell markedly in the following year.

In value terms, chestnut imports shrank significantly to $X in 2021. In general, imports saw a perceptible decline. The pace of growth was the most pronounced in 2018 when imports increased by 261%. The level of import peaked at $X in 2020, and then shrank rapidly in the following year.

Imports by Country

Senegal represented the largest importing country with an import of around X tons, which amounted to 51% of total imports. Cabo Verde (X tons) took an 18% share (based on physical terms) of total imports, which put it in second place, followed by Mauritania (12%) and Ghana (10%). Guinea-Bissau (X kg), Togo (X kg) and Cote d'Ivoire (X kg) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to chestnut imports into Senegal stood at -9.0%. At the same time, Mauritania (+20.4%) and Ghana (+14.4%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +20.4% from 2012-2021. By contrast, Cabo Verde (-2.4%), Guinea-Bissau (-3.5%), Togo (-24.4%) and Cote d'Ivoire (-32.9%) illustrated a downward trend over the same period. Mauritania (+11 p.p.), Ghana (+9 p.p.), Cabo Verde (+8.4 p.p.) and Guinea-Bissau (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Togo and Cote d'Ivoire saw its share reduced by -8.8% and -22% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) constitutes the largest market for imported chestnuts in Western Africa, comprising 58% of total imports. The second position in the ranking was held by Cabo Verde ($X), with a 21% share of total imports. It was followed by Ghana, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Senegal was relatively modest. In the other countries, the average annual rates were as follows: Cabo Verde (-0.9% per year) and Ghana (+20.5% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, which is down by -10.2% against the previous year. Import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, chestnut import price increased by +21.2% against 2019 indices. The growth pace was the most rapid in 2020 when the import price increased by 35%. As a result, import price attained the peak level of $X per ton, and then shrank in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Togo ($X per ton), while Cote d'Ivoire ($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 (+9.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :