Western Africa: Market for Dried Or Salted Fish 2024

Market Size for Dried Or Salted Fish in Western Africa

The West African dried or salted fish market declined markedly to $X in 2021, with a decrease of -19.6% against the previous year. Overall, consumption saw a deep slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Dried Or Salted Fish in Western Africa

In value terms, dried or salted fish production soared to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 57%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Exports of Dried Or Salted Fish

Exports in Western Africa

In 2021, overseas shipments of dried or salted fish decreased by -50.4% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of 82%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, dried or salted fish exports shrank remarkably to $X in 2021. In general, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of 51% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Senegal (X tons) was the largest exporter of dried or salted fish, achieving 55% of total exports. It was distantly followed by Mauritania (X tons), constituting a 30% share of total exports. The following exporters - Gambia (X tons), Ghana (X tons) and Nigeria (X tons) - together made up 11% of total exports.

From 2012 to 2021, the biggest increases were recorded for Ghana (with a CAGR of +34.4%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Senegal ($X) remains the largest dried or salted fish supplier in Western Africa, comprising 46% of total exports. The second position in the ranking was taken by Mauritania ($X), with a 21% share of total exports. It was followed by Ghana, with an 18% share.

In Senegal, dried or salted fish exports declined by an average annual rate of -6.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Mauritania (-12.1% per year) and Ghana (+47.2% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, picking up by 16% against the previous year. Over the period under review, the export price, however, showed a deep setback. The most prominent rate of growth was recorded in 2020 when the export price increased by 35%. 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.

Prices varied noticeably country of origin: the country with the highest price was Ghana ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+9.5%), while the other leaders experienced more modest paces of growth.

Imports of Dried Or Salted Fish

Imports in Western Africa

After two years of growth, purchases abroad of dried or salted fish decreased by -77.9% to X tons in 2021. Overall, imports recorded a dramatic curtailment. The pace of growth was the most pronounced in 2020 when imports increased by 147%. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, dried or salted fish imports shrank significantly to $X in 2021. Over the period under review, imports continue to indicate a dramatic downturn. The pace of growth appeared the most rapid in 2020 with an increase of 270% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Togo represented the key importer of dried or salted fish in Western Africa, with the volume of imports finishing at X tons, which was approx. 60% of total imports in 2021. Mali (X tons) took the second position in the ranking, followed by Nigeria (X tons) and Ghana (X tons). All these countries together held approx. 34% share of total imports. Cabo Verde (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to dried or salted fish imports into Togo stood at -2.0%. At the same time, Mali (+18.5%), Cabo Verde (+7.0%) and Ghana (+1.8%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +18.5% from 2012-2021. By contrast, Nigeria (-41.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Togo, Mali, Ghana and Cabo Verde increased by +56, +13, +6.9 and +4.2 percentage points, respectively.

In value terms, Cabo Verde ($X), Nigeria ($X) and Togo ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 69% of total imports. Ghana and Mali lagged somewhat behind, together accounting for a further 21%.

In terms of the main importing countries, Mali, with a CAGR of +9.9%, recorded the highest rates of growth with regard to 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, falling by -54.9% against the previous year. Overall, the import price saw a abrupt slump. The pace of growth appeared the most rapid in 2020 when the import price increased by 50%. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Cabo Verde ($X per ton), while Togo ($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 (+7.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform