Western Africa: Market for Flours, Meals And Pellets Of Fish 2024

Market Size for Flours, Meals And Pellets Of Fish in Western Africa

The West African fish meals and pellet market surged to $X in 2021, with an increase of 102% against the previous year. Over the period under review, consumption continues to indicate buoyant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Flours, Meals And Pellets Of Fish in Western Africa

In value terms, fish meals and pellet production expanded sharply to $X in 2021 estimated in export price. The total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -10.0% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 35%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Flours, Meals And Pellets Of Fish

Exports in Western Africa

In 2021, exports of flours, meals and pellets of fish in Western Africa shrank significantly to X tons, reducing by -18.9% compared with 2020 figures. In general, exports showed a dramatic setback. The most prominent rate of growth was recorded in 2014 with an increase of 391% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, fish meals and pellet exports fell to $X in 2021. Over the period under review, exports continue to indicate a abrupt slump. The growth pace was the most rapid in 2014 with an increase of 312% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Senegal represented the main exporting country with an export of around X tons, which finished at 62% of total exports. Ghana (X tons) held the second position in the ranking, followed by Mauritania (X tons) and Gambia (X tons). All these countries together held approx. 33% share of total exports. Burkina Faso (X tons) took a little share of total exports.

Exports from Senegal increased at an average annual rate of +15.4% from 2012 to 2021. At the same time, Burkina Faso (+36.3%) and Gambia (+2.2%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +36.3% from 2012-2021. Ghana experienced a relatively flat trend pattern. By contrast, Mauritania (-36.3%) illustrated a downward trend over the same period. While the share of Senegal (+60 p.p.), Ghana (+11 p.p.), Gambia (+6.9 p.p.) and Burkina Faso (+2.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Mauritania (-82.4 p.p.) displayed negative dynamics.

In value terms, Senegal ($X) remains the largest fish meals and pellet supplier in Western Africa, comprising 80% of total exports. The second position in the ranking was held by Ghana ($X), with a 7% share of total exports. It was followed by Gambia, with a 3.5% share.

In Senegal, fish meals and pellet exports increased at an average annual rate of +21.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ghana (-17.3% per year) and Gambia (-7.7% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, growing by 17% against the previous year. Overall, the export price recorded prominent growth. The pace of growth appeared the most rapid in 2017 an increase of 47%. The level of export peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+4.9%), while the other leaders experienced a decline in the export price figures.

Imports of Flours, Meals And Pellets Of Fish

Imports in Western Africa

In 2021, the amount of flours, meals and pellets of fish imported in Western Africa surged to X tons, picking up by 672% on 2020. Overall, imports posted significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, fish meals and pellet imports soared to $X in 2021. Over the period under review, imports enjoyed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Nigeria (X tons) represented the major importer of flours, meals and pellets of fish, achieving 84% of total imports. It was distantly followed by Togo (X tons), creating an 11% share of total imports. Guinea (X tons) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to fish meals and pellet imports into Nigeria stood at +34.4%. At the same time, Guinea (+54.0%) and Togo (+17.9%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +54.0% from 2012-2021. Nigeria (+25 p.p.) and Guinea (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Togo saw its share reduced by -14.9% from 2012 to 2021, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported flours, meals and pellets of fish in Western Africa, comprising 92% of total imports. The second position in the ranking was taken by Guinea ($X), with a 3.8% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria stood at +35.5%. In the other countries, the average annual rates were as follows: Guinea (+49.6% per year) and Togo (+28.6% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, with an increase of 26% against the previous year. Import price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fish meals and pellet import price decreased by -33.1% against 2018 indices. The growth pace was the most rapid in 2014 an increase of 49%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Guinea ($X per ton), while Togo ($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 (+9.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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