Western Africa: Malt Market 2024

Malt Market Size in Western Africa

The West African malt market expanded slightly to $X in 2021, increasing by 4.2% against the previous year. In general, consumption, however, continues to indicate a slight curtailment. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Malt Production in Western Africa

In value terms, malt production stood at $X in 2021 estimated in export price. In general, production saw a pronounced slump. The pace of growth appeared the most rapid in 2016 with an increase of 15% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Malt Exports

Exports in Western Africa

In 2021, after four years of decline, there was significant growth in shipments abroad of malt (not roasted), when their volume increased by 52% to X tons. In general, exports showed a prominent increase. The growth pace was the most rapid in 2014 with an increase of 431%. 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, malt exports skyrocketed to $X in 2021. Overall, exports showed resilient growth. The growth pace was the most rapid in 2014 when exports increased by 362% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mauritania was the largest exporting country with an export of about X tons, which amounted to 49% of total exports. Togo (X tons) took a 21% share (based on physical terms) of total exports, which put it in second place, followed by Cote d'Ivoire (20%) and Benin (8.5%).

Mauritania experienced a relatively flat trend pattern with regard to volume of exports of malt (not roasted). At the same time, Cote d'Ivoire (+2.3%) and Togo (+1.9%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +2.3% from 2012-2021. Benin experienced a relatively flat trend pattern. From 2012 to 2021, the share of Togo, Cote d'Ivoire and Benin increased by +21, +20 and +8.5 percentage points, respectively.

In value terms, Mauritania ($X) remains the largest malt supplier in Western Africa, comprising 60% of total exports. The second position in the ranking was held by Togo ($X), with a 20% share of total exports. It was followed by Cote d'Ivoire, with a 13% share.

In Mauritania, malt exports expanded at an average annual rate of +2.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Togo (+32.6% per year) and Cote d'Ivoire (-6.2% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, declining by -6.7% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 30%. Over the period under review, the export prices reached the maximum at $X per ton in 2020, and then reduced in the following year.

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 Mauritania ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+30.1%), while the other leaders experienced mixed trends in the export price figures.

Malt Imports

Imports in Western Africa

In 2021, supplies from abroad of malt (not roasted) increased by 15% to X tons, rising for the second year in a row after two years of decline. Total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +43.7% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 59%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, malt imports surged to $X in 2021. Total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +86.2% against 2016 indices. The pace of growth was the most pronounced in 2020 with an increase of 29%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

In 2021, Nigeria (X tons) was the main importer of malt (not roasted), creating 33% of total imports. Ghana (X tons) held an 18% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (17%), Burkina Faso (11%), Benin (7%) and Togo (5.3%). Guinea (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 leading importing countries, was attained by Guinea (with a CAGR of +10.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported malt (not roasted) in Western Africa, comprising 59% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 10% share of total imports. It was followed by Ghana, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria stood at +6.5%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+2.5% per year) and Ghana (+4.5% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, surging by 1.6% against the previous year. Over the period under review, the import price, however, saw a noticeable slump. The most prominent rate of growth was recorded in 2018 when the import price increased by 23%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (-0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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