Western Africa: Groundnuts Market 2025

Groundnuts Market Size in Western Africa

After two years of growth, the West African groundnuts market decreased by -22.2% to $X in 2022. In general, consumption, however, continues to indicate a perceptible contraction. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Groundnuts Production in Western Africa

In value terms, groundnuts production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the production volume increased by 41% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Nigeria (X tons) constituted the country with the largest volume of groundnuts production, accounting for 48% of total volume. Moreover, groundnuts production in Nigeria exceeded the figures recorded by the second-largest producer, Senegal (X tons), threefold. The third position in this ranking was held by Guinea (X tons), with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Nigeria amounted to +3.3%. In the other countries, the average annual rates were as follows: Senegal (+9.6% per year) and Guinea (+9.1% per year).

The average groundnuts yield expanded modestly to X tons per ha in 2022, picking up by 2% compared with the previous year. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the yield increased by 7.5%. As a result, the yield reached the peak level of X tons per ha; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of ground-nut (in-shell) production in Western Africa fell slightly to X ha, therefore, remained relatively stable against 2021 figures. The harvested area increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when the harvested area increased by 9.1% against the previous year. The level of harvested area peaked at X ha in 2021, and then reduced in the following year.

Groundnuts Exports

Exports in Western Africa

In 2022, shipments abroad of ground-nut (in-shell) decreased by -13.2% to X tons, falling for the fifth consecutive year after two years of growth. Overall, exports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2016 with an increase of 972% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, groundnuts exports dropped to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 742% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Togo represented the largest exporter of ground-nut (in-shell) in Western Africa, with the volume of exports finishing at X tons, which was approx. 62% of total exports in 2022. Senegal (X tons) took a 14% share (based on physical terms) of total exports, which put it in second place, followed by Niger (10%) and Nigeria (5.2%). The following exporters - Burkina Faso (X tons) and Cote d'Ivoire (X tons) - each recorded a 7.9% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to groundnuts exports from Togo stood at +13.4%. At the same time, Burkina Faso (+17.3%), Nigeria (+8.2%), Cote d'Ivoire (+5.1%) and Niger (+1.9%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +17.3% from 2012-2022. By contrast, Senegal (-23.4%) illustrated a downward trend over the same period. Togo (+55 p.p.), Niger (+6.7 p.p.), Nigeria (+4.3 p.p.), Burkina Faso (+3.7 p.p.) and Cote d'Ivoire (+2.8 p.p.) significantly strengthened its position in terms of the total exports, while Senegal saw its share reduced by -67.6% from 2012 to 2022, respectively.

In value terms, Togo ($X) remains the largest groundnuts supplier in Western Africa, comprising 78% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 7.5% share of total exports. It was followed by Senegal, with a 7% share.

In Togo, groundnuts exports increased at an average annual rate of +15.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+18.1% per year) and Senegal (-20.1% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, picking up by 6.6% against the previous year. In general, the export price showed strong growth. The most prominent rate of growth was recorded in 2021 an increase of 119% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices 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 Cote d'Ivoire (+12.3%), while the other leaders experienced more modest paces of growth.

Groundnuts Imports

Imports in Western Africa

In 2022, approx. X tons of ground-nut (in-shell) were imported in Western Africa; increasing by 58% against the previous year. Over the period under review, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 87%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, groundnuts imports rose markedly to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 92%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Togo represented the largest importer of ground-nut (in-shell) in Western Africa, with the volume of imports recording X tons, which was near 62% of total imports in 2022. Nigeria (X tons) ranks second in terms of the total imports with a 17% share, followed by Benin (10%) and Niger (5.2%). Mali (X tons) took a minor share of total imports.

Togo was also the fastest-growing in terms of the ground-nut (in-shell) imports, with a CAGR of +69.9% from 2012 to 2022. At the same time, Benin (+61.3%), Nigeria (+46.5%), Niger (+23.7%) and Mali (+2.2%) displayed positive paces of growth. While the share of Togo (+61 p.p.), Nigeria (+16 p.p.), Benin (+10 p.p.) and Niger (+3.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mali (-7.8 p.p.) displayed negative dynamics.

In value terms, Togo ($X), Nigeria ($X) and Mali ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 79% share of total imports.

Nigeria, with a CAGR of +38.5%, saw the highest growth rate of the value of imports, in terms of 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 2022, the import price in Western Africa amounted to $X per ton, shrinking by -27.3% against the previous year. Over the period under review, the import price saw a abrupt curtailment. The growth pace was the most rapid in 2013 when the import price increased by 26%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mali ($X per ton), while Benin ($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 (+2.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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