Western Africa: Fresh Fish Fillet Market 2024

Fresh Fish Fillet Market Size in Western Africa

After four years of growth, the West African fresh fish fillet market decreased by -13.1% to $X in 2021. Over the period under review, consumption, however, posted prominent growth. Over the period under review, the market reached the peak level at $X in 2020, and then declined in the following year.

Fresh Fish Fillet Production in Western Africa

In value terms, fresh fish fillet production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 44%. Over the period under review, production hit record highs at $X in 2020, and then declined in the following year.

Fresh Fish Fillet Exports

Exports in Western Africa

Fresh fish fillet exports skyrocketed to X tons in 2021, growing by 45% on 2020 figures. In general, exports recorded a strong expansion. The pace of growth was the most pronounced in 2014 when exports increased by 312%. The volume of export peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, fresh fish fillet exports surged to $X in 2021. Over the period under review, exports posted strong growth. The pace of growth appeared the most rapid in 2015 with an increase of 159%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Mauritania (X tons) and Cote d'Ivoire (X tons) represented roughly 81% of total exports in 2021. It was distantly followed by Senegal (X tons), achieving a 14% share of total exports. The following exporters - Sierra Leone (X tons) and Nigeria (X tons) - each accounted for a 3.6% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Senegal (with a CAGR of +87.1%), while the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Mauritania ($X) and Senegal ($X) constituted the countries with the highest levels of exports in 2021, with a combined 96% share of total exports.

In terms of the main exporting countries, Senegal, with a CAGR of +79.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, shrinking by -12.5% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the export price increased by 81% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2020, and then reduced in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+0.4%), while the other leaders experienced a decline in the export price figures.

Fresh Fish Fillet Imports

Imports in Western Africa

In 2021, purchases abroad of fresh or chilled fish fillets increased by 74% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports posted a strong expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 177%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, fresh fish fillet imports soared to $X in 2021. In general, imports saw perceptible growth. The pace of growth was the most pronounced in 2017 when imports increased by 93% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Ghana represented the major importer of fresh or chilled fish fillets in Western Africa, with the volume of imports recording X tons, which was approx. 42% of total imports in 2021. Guinea (X tons) held a 21% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (13%), Benin (9.4%) and Nigeria (7.1%). Liberia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Guinea (with a CAGR of +52.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fresh fish fillet importing markets in Western Africa were Ghana ($X), Guinea ($X) and Cote d'Ivoire ($X), together accounting for 72% of total imports.

In terms of the main importing countries, Guinea, with a CAGR of +58.8%, 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

In 2021, the import price in Western Africa amounted to $X per ton, with a decrease of -9.2% against the previous year. Over the period under review, the import price recorded a perceptible decrease. The most prominent rate of growth was recorded in 2013 an increase of 26% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Liberia ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guinea (+3.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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