Western Africa: Frozen Whole Fish Market 2024

Frozen Whole Fish Market Size in Western Africa

The West African frozen whole fish market declined to $X in 2021, which is down by -7% against the previous year. The total consumption indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +66.4% against 2016 indices. Over the period under review, the market reached the maximum level at $X in 2020, and then fell in the following year.

Frozen Whole Fish Production in Western Africa

In value terms, frozen whole fish production declined modestly to $X in 2021 estimated in export price. In general, production, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 39% against the previous year. The level of production peaked at $X in 2020, and then shrank modestly in the following year.

Frozen Whole Fish Exports

Exports in Western Africa

In 2021, shipments abroad of frozen whole fish decreased by -11.4% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports, however, recorded strong growth. The pace of growth appeared the most rapid in 2014 with an increase of 54%. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, frozen whole fish exports contracted to $X in 2021. In general, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2014 when exports increased by 35%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Mauritania was the key exporting country with an export of about X tons, which accounted for 57% of total exports. It was distantly followed by Senegal (X tons), making up a 36% share of total exports. Cote d'Ivoire (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Cote d'Ivoire (with a CAGR of +22.7%), while the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Mauritania ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 86% of total exports.

Cote d'Ivoire, with a CAGR of +30.2%, recorded 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 2021, growing by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, 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 Cote d'Ivoire (+6.1%), while the other leaders experienced mixed trends in the export price figures.

Frozen Whole Fish Imports

Imports in Western Africa

In 2021, supplies from abroad of frozen whole fish decreased by -4.8% to X tons, falling for the second year in a row after three years of growth. Total imports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -4.9% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 47%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, frozen whole fish imports fell to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 29%. Over the period under review, imports attained the maximum at $X in 2020, and then fell in the following year.

Imports by Country

In 2021, Cote d'Ivoire (X tons) was the major importer of frozen whole fish, making up 36% of total imports. Nigeria (X tons) took the second position in the ranking, distantly followed by Ghana (X tons), Burkina Faso (X tons), Benin (X tons) and Mali (X tons). All these countries together took approx. 53% share of total imports. Togo (X tons) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Benin (with a CAGR of +20.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X) constituted the countries with the highest levels of imports in 2021, with a combined 81% share of total imports. These countries were followed by Benin, Mali, Togo and Burkina Faso, which together accounted for a further 13%.

Mali, with a CAGR of +23.0%, saw the highest growth rate of the value of imports, among the main importing countries 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 an increase of 2.2% against the previous year. In general, the import price, however, continues to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2020 an increase of 22% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+3.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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