Western Africa: Diammonium Phosphate Market 2024

Diammonium Phosphate Market Size in Western Africa

The West African diammonium phosphate market reduced modestly to $X in 2022, shrinking by -4.5% against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Diammonium Phosphate Production in Western Africa

In value terms, diammonium phosphate production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 25%. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Diammonium Phosphate Exports

Exports in Western Africa

In 2022, diammonium phosphate exports in Western Africa dropped dramatically to X tons, with a decrease of -21.9% compared with the year before. In general, exports, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 171%. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, diammonium phosphate exports declined remarkably to $X in 2022. Overall, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 172% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Mali (X tons) was the main exporter of diammonium phosphate, mixing up 54% of total exports. It was distantly followed by Senegal (X tons), Cote d'Ivoire (X tons) and Togo (X tons), together creating a 46% share of total exports.

Mali was also the fastest-growing in terms of the diammonium phosphate exports, with a CAGR of +47.4% from 2012 to 2022. At the same time, Cote d'Ivoire (+30.3%), Senegal (+5.1%) and Togo (+4.4%) displayed positive paces of growth. While the share of Mali (+49 p.p.) and Cote d'Ivoire (+10 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Togo (-19.3 p.p.) and Senegal (-38.5 p.p.) displayed negative dynamics.

In value terms, Mali ($X) remains the largest diammonium phosphate supplier in Western Africa, comprising 70% of total exports. The second position in the ranking was held by Senegal ($X), with a 16% share of total exports. It was followed by Togo, with a 7.5% share.

In Mali, diammonium phosphate exports increased at an average annual rate of +70.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (+13.8% per year) and Togo (-0.6% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, surging by 1.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.4%. The most prominent rate of growth was recorded in 2020 an increase of 33%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+15.7%), while the other leaders experienced mixed trends in the export price figures.

Diammonium Phosphate Imports

Imports in Western Africa

In 2022, diammonium phosphate imports in Western Africa dropped to X tons, with a decrease of -5.8% compared with the year before. Overall, imports, however, saw a tangible increase. The pace of growth was the most pronounced in 2019 with an increase of 62%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, diammonium phosphate imports reduced dramatically to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 55%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Cote d'Ivoire (X tons) represented the key importer of diammonium phosphate, comprising 48% of total imports. Senegal (X tons) held the second position in the ranking, followed by Mali (X tons), Burkina Faso (X tons), Mauritania (X tons) and Ghana (X tons). All these countries together held approx. 48% share of total imports. Nigeria (X tons) followed a long way behind the leaders.

Imports into Cote d'Ivoire increased at an average annual rate of +6.1% from 2012 to 2022. At the same time, Mauritania (+45.8%), Mali (+33.9%), Senegal (+18.2%), Ghana (+16.3%) and Burkina Faso (+12.1%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +45.8% from 2012-2022. By contrast, Nigeria (-15.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cote d'Ivoire, Mali, Senegal, Mauritania, Burkina Faso and Ghana increased by +13, +10, +10, +7.5, +5.6 and +4 percentage points, respectively.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported diammonium phosphate in Western Africa, comprising 45% of total imports. The second position in the ranking was taken by Senegal ($X), with a 17% share of total imports. It was followed by Mali, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire stood at +1.7%. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (+18.4% per year) and Mali (+38.4% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, waning by -14.1% against the previous year. Overall, the import price continues to indicate a noticeable decrease. The growth pace was the most rapid in 2021 when the import price increased by 45%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Senegal ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+3.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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