Western Africa: Fresh Beef Carcase Market 2024

Fresh Beef Carcase Market Size in Western Africa

The West African fresh beef carcase market reduced slightly to $X in 2022, with a decrease of -2.1% against the previous year. The total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.1% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Fresh Beef Carcase Production in Western Africa

In value terms, fresh beef carcase production shrank slightly to $X in 2022 estimated in export price. The total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.2% against 2019 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 42% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Fresh Beef Carcase Exports

Exports in Western Africa

In 2022, the amount of fresh or chilled carcases of beef and veal exported in Western Africa declined slightly to X tons, which is down by -4.5% compared with the year before. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 115% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, fresh beef carcase exports dropped slightly to $X in 2022. Over the period under review, exports, however, saw a noticeable expansion. The most prominent rate of growth was recorded in 2016 with an increase of 143% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Mali represented the major exporter of fresh or chilled carcases of beef and veal in Western Africa, with the volume of exports recording X tons, which was near 57% of total exports in 2022. Cote d'Ivoire (X tons) ranks second in terms of the total exports with a 33% share, followed by Niger (7.9%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Cote d'Ivoire (with a CAGR of +6.7%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Mali ($X), Cote d'Ivoire ($X) and Niger ($X) were the countries with the highest levels of exports in 2022, with a combined 98% share of total exports.

Niger, with a CAGR of +9.9%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, flattening at the previous year. Export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fresh beef carcase export price decreased by -15.7% against 2020 indices. The most prominent rate of growth was recorded in 2020 an increase of 30% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Niger ($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 (+6.6%), while the other leaders experienced mixed trends in the export price figures.

Fresh Beef Carcase Imports

Imports in Western Africa

In 2022, supplies from abroad of fresh or chilled carcases of beef and veal decreased by -0.6% to X tons, falling for the second consecutive year after two years of growth. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 73%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, fresh beef carcase imports contracted notably to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by 98% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Mauritania was the major importer of fresh or chilled carcases of beef and veal in Western Africa, with the volume of imports amounting to X tons, which was near 43% of total imports in 2022. Nigeria (X tons) ranks second in terms of the total imports with a 20% share, followed by Mali (11%), Gambia (8.3%) and Ghana (5.9%). The following importers - Benin (X tons), Cabo Verde (X tons) and Cote d'Ivoire (X tons) - together made up 7.9% of total imports.

Mauritania was also the fastest-growing in terms of the fresh or chilled carcases of beef and veal imports, with a CAGR of +56.1% from 2012 to 2022. At the same time, Benin (+50.8%), Cabo Verde (+31.7%), Gambia (+21.5%), Mali (+5.8%), Nigeria (+4.3%) and Ghana (+4.1%) displayed positive paces of growth. By contrast, Cote d'Ivoire (-13.5%) illustrated a downward trend over the same period. While the share of Mauritania (+43 p.p.), Gambia (+7.1 p.p.), Nigeria (+6.5 p.p.), Mali (+4.6 p.p.), Benin (+3.2 p.p.), Cabo Verde (+2.8 p.p.) and Ghana (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cote d'Ivoire (-5.5 p.p.) displayed negative dynamics.

In value terms, Mauritania ($X), Mali ($X) and Gambia ($X) were the countries with the highest levels of imports in 2022, with a combined 73% share of total imports.

In terms of the main importing countries, Mauritania, with a CAGR of +50.8%, recorded 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

In 2022, the import price in Western Africa amounted to $X per ton, with a decrease of -16.3% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 27% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the 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 Cote d'Ivoire ($X per ton), while Nigeria ($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 (+11.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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