Western Africa: Feedstuff Preparing Machinery Market 2024

Feedstuff Preparing Machinery Market Size in Western Africa

In 2021, after three years of decline, there was growth in the West African feedstuff preparing machinery market, when its value increased by 3.1% to $X. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.2% 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 decreased by -22.7% against 2017 indices. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Feedstuff Preparing Machinery Production in Western Africa

In value terms, feedstuff preparing machinery production expanded slightly to $X in 2021 estimated in export price. The total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -17.2% against 2018 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 28% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Feedstuff Preparing Machinery Exports

Exports in Western Africa

In 2021, overseas shipments of machinery for preparing animal feedstuffs decreased by 0% to X units, falling for the second year in a row after two years of decline. Over the period under review, exports enjoyed a strong expansion. The smallest decline of -83.3% was in 2015. The volume of export peaked in 2021 and is likely to see steady growth in years to come.

In value terms, feedstuff preparing machinery exports surged to $X in 2021. Overall, exports recorded a perceptible setback. The most prominent rate of growth was recorded in 2017 with an increase of 3,895%. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per unit, flattening at the previous year. Overall, the export price posted a prominent increase. The most prominent rate of growth was recorded in 2015 a decrease of -59.8% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Ghana ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

From 2014 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (0.0%), while the other leaders experienced more modest paces of growth.

Feedstuff Preparing Machinery Imports

Imports in Western Africa

In 2021, the amount of machinery for preparing animal feedstuffs imported in Western Africa amounted to X units, picking up by 1.8% on the previous year's figure. In general, imports showed perceptible growth. The most prominent rate of growth was recorded in 2014 with an increase of 97% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, feedstuff preparing machinery imports skyrocketed to $X in 2021. Overall, imports saw a mild increase. The pace of growth was the most pronounced in 2014 with an increase of 125%. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Nigeria was the largest importer of machinery for preparing animal feedstuffs in Western Africa, with the volume of imports resulting at X units, which was approx. 76% of total imports in 2021. It was distantly followed by Ghana (X units), comprising a 13% share of total imports. The following importers - Mauritania (X units) and Cote d'Ivoire (X units) - each finished at a 6.6% share of total imports.

Imports into Nigeria increased at an average annual rate of +4.4% from 2012 to 2021. At the same time, Cote d'Ivoire (+37.9%), Mauritania (+34.1%) and Ghana (+13.4%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +37.9% from 2012-2021. From 2012 to 2021, the share of Ghana, Nigeria, Mauritania and Cote d'Ivoire increased by +7.3, +5.5, +3 and +3 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported machinery for preparing animal feedstuffs in Western Africa, comprising 73% of total imports. The second position in the ranking was taken by Ghana ($X), with a 16% share of total imports. It was followed by Cote d'Ivoire, with a 4% share.

In Nigeria, feedstuff preparing machinery imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ghana (+22.1% per year) and Cote d'Ivoire (+31.0% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2021, growing by 15% against the previous year. In general, the import price, however, showed a mild shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 25%. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Cote d'Ivoire ($X per unit) and Ghana ($X per unit), while Mauritania ($X per unit) and Nigeria ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+7.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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