Western Africa: Market for Coconut, Abaca, Ramie and other Vegetable Textile Fibres 2024

Market Size for Coconut, Abaca, Ramie and other Vegetable Textile Fibres in Western Africa

In 2022, after three years of growth, there was significant decline in the West African market for coconut, abaca, ramie and other vegetable textile fibres, when its value decreased by -17.9% to $X. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2021, and then declined remarkably in the following year.

Production of Coconut, Abaca, Ramie and other Vegetable Textile Fibres in Western Africa

In value terms, production of coconut, abaca, ramie and other vegetable textile fibres fell modestly to $X in 2022 estimated in export price. Overall, production recorded a pronounced descent. The pace of growth was the most pronounced in 2019 when the production volume increased by 85%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Sierra Leone (X tons), Cote d'Ivoire (X tons) and Mali (X tons), together accounting for 97% of total production.

From 2012 to 2022, the biggest increases were recorded for Mali (with a CAGR of +2.3%), while fibres for the other leaders experienced more modest paces of growth.

The average yield of coconut, abaca, ramie and other vegetable textile fibres dropped to X tons per ha in 2022, remaining relatively unchanged against 2021. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the yield increased by 2.9% against the previous year. The level of yield peaked at X tons per ha in 2021, and then reduced modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of coconut, abaca, ramie and other vegetable textile fibres in Western Africa shrank modestly to X ha, standing approx. at the previous year's figure. In general, the harvested area, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 2.5%. Over the period under review, the harvested area dedicated to coconut, abaca, ramie and other vegetable textile fibre production attained the peak figure at X ha in 2018; afterwards, it flattened through to 2022.

Exports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Exports in Western Africa

For the third year in a row, Western Africa recorded decline in shipments abroad of coconut, abaca, ramie and other vegetable textile fibres, which decreased by -0.8% to X tons in 2022. In general, exports showed a perceptible downturn. The pace of growth was the most pronounced in 2017 when exports increased by 82% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres expanded sharply to $X in 2022. Over the period under review, exports recorded a pronounced descent. The most prominent rate of growth was recorded in 2019 when exports increased by 91%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire dominates fibres structure, recording X tons, which was near 85% of total exports in 2022. It was distantly followed by Sierra Leone (X tons), creating a 9.3% share of total exports. Ghana (X tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to coconut, abaca, ramie and other vegetable textile fibre exports from Cote d'Ivoire stood at -3.5%. At the same time, Ghana (+22.2%) and Sierra Leone (+15.6%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +22.2% from 2012-2022. While the share of Sierra Leone (+7.5 p.p.) and Ghana (+3.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (-12.5 p.p.) displayed negative dynamics.

In value terms, Cote d'Ivoire ($X) remains the largest coconut, abaca, ramie and other vegetable textile fibre supplier in Western Africa, comprising 73% of total exports. The second position in the ranking was taken by Sierra Leone ($X), with a 19% share of total exports.

In Cote d'Ivoire, exports of coconut, abaca, ramie and other vegetable textile fibres plunged by an average annual rate of -5.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Sierra Leone (+7.9% per year) and Ghana (+17.7% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, increasing by 6.3% against the previous year. Overall, the export price, however, continues to indicate a mild descent. The pace of growth was the most pronounced in 2018 when the export price increased by 32%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-2.4%), while the other leaders experienced a decline in the export price figures.

Imports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Imports in Western Africa

In 2022, purchases abroad of coconut, abaca, ramie and other vegetable textile fibres decreased by -32.7% to X tons, falling for the second consecutive year after two years of growth. Overall, imports, however, continue to indicate measured growth. The growth pace was the most rapid in 2019 with an increase of 62%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres dropped significantly to $X in 2022. In general, imports, however, showed noticeable growth. The most prominent rate of growth was recorded in 2019 when imports increased by 74%. The level of import peaked at $X in 2021, and then contracted notably in the following year.

Imports by Country

Ghana (X tons) and Nigeria (X tons) represented roughly 46% of total imports in 2022. Cote d'Ivoire (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Gambia (8.4%), Mauritania (6.4%), Guinea (6.2%) and Liberia (4.6%). Benin (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Benin (with a CAGR of +72.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest coconut, abaca, ramie and other vegetable textile fibre importing markets in Western Africa were Nigeria ($X), Ghana ($X) and Gambia ($X), together comprising 59% of total imports. Cote d'Ivoire, Guinea, Mauritania, Benin and Liberia lagged somewhat behind, together accounting for a further 32%.

In terms of the main importing countries, Benin, with a CAGR of +68.7%, 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, approximately equating the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 47% against the previous year. As a result, import price reached the peak level of $X per ton, leveling off in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Gambia ($X per ton), while Liberia ($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 (+14.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform