Western Africa: Frozen Atlantic Halibut Market 2022

Frozen Atlantic Halibut Market Size in Western Africa

In 2020, after three years of decline, there was significant growth in the West African frozen atlantic halibut market, when its value increased by X% to $X. Over the period under review, consumption, however, saw a pronounced contraction. The pace of growth was the most pronounced in 2016 with an increase of X% year-to-year. Over the period under review, the market hit record highs at $X in 2007; however, from 2008 to 2020, consumption failed to regain the momentum.

Frozen Atlantic Halibut Production in Western Africa

In value terms, frozen atlantic halibut production surged to $X in 2020 estimated in export prices. Overall, production saw a buoyant increase. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Production By Country in Western Africa

Senegal (X tons) constituted the country with the largest volume of frozen atlantic halibut production, accounting for X% of total volume. Moreover, frozen atlantic halibut production in Senegal exceeded the figures recorded by the second-largest producer, Niger (X kg), sixfold. Guinea (X kg) ranked third in terms of total production with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume in Senegal was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Niger (+X% per year) and Guinea (+X% per year).

Frozen Atlantic Halibut Exports

Exports in Western Africa

In 2020, exports of frozen atlantic halibut in Western Africa skyrocketed to X tons, picking up by X% against the previous year's figure. In general, exports posted significant growth. The pace of growth appeared the most rapid in 2015 when exports increased by X% year-to-year. Over the period under review, exports attained the maximum in 2020 and are likely to see steady growth in the immediate term.

In value terms, frozen atlantic halibut exports totaled $X in 2020. Overall, exports showed a resilient increase. The pace of growth was the most pronounced in 2015 with an increase of X% year-to-year. As a result, exports reached the peak of $X. from 2016 to 2020, the growth exports failed to regain the momentum.

Exports by Country

Senegal (X tons) represented roughly X% of total exports of frozen atlantic halibut in 2020.

Senegal was also the fastest-growing in terms of the frozen atlantic halibut exports, with a CAGR of +X% from 2007 to 2020. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) also remains the largest frozen atlantic halibut supplier in Western Africa.

From 2007 to 2020, the average annual rate of growth in terms of value in Senegal stood at +X%.

Export Prices by Country

In 2020, the frozen atlantic halibut export price in Western Africa amounted to $X per ton, with a decrease of -X% against the previous year. In general, the export price faced a deep slump. The pace of growth was the most pronounced in 2015 an increase of X% year-to-year. Over the period under review, export prices hit record highs at $X per ton in 2016; however, from 2017 to 2020, export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Senegal.

From 2007 to 2020, the rate of growth in terms of prices for Senegal amounted to -X% per year.

Frozen Atlantic Halibut Imports

Imports in Western Africa

For the third year in a row, Western Africa recorded decline in supplies from abroad of frozen atlantic halibut, which decreased by -X% to X tons in 2020. In general, imports continue to indicate a dramatic slump. The growth pace was the most rapid in 2017 with an increase of X% y-o-y. Over the period under review, imports hit record highs at X tons in 2007; however, from 2008 to 2020, imports stood at a somewhat lower figure.

In value terms, frozen atlantic halibut imports declined markedly to $X in 2020. Overall, imports saw a sharp shrinkage. The growth pace was the most rapid in 2019 with an increase of X% year-to-year. The level of import peaked at $X in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

Imports by Country

Senegal (X tons) and Cote d'Ivoire (X tons) dominates frozen atlantic halibut imports structure, together mixing up X% of total imports. It was distantly followed by Ghana (X kg), constituting a X% share of total imports.

From 2007 to 2020, the biggest increases were in Cote d'Ivoire, while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported frozen atlantic halibut in Western Africa, comprising X% of total imports. The second position in the ranking was occupied by Senegal ($X), with a X% share of total imports.

From 2007 to 2020, the average annual growth rate of value in Cote d'Ivoire amounted to +X%. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (-X% per year) and Ghana (-X% per year).

Import Prices by Country

In 2020, the frozen atlantic halibut import price in Western Africa amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price saw pronounced growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was Cote d'Ivoire ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Senegal, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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