Western Africa: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in Western Africa

The West African monoammonium phosphate market rose modestly to $X in 2022, growing by 2.8% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Monoammonium Phosphate Production in Western Africa

In value terms, monoammonium phosphate production totaled $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 17% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Monoammonium Phosphate Exports

Exports in Western Africa

In 2022, overseas shipments of monoammonium phosphate (MAP) decreased by -38.7% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports faced a abrupt slump. The growth pace was the most rapid in 2021 when exports increased by 67%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, monoammonium phosphate exports reduced sharply to $X in 2022. Overall, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2021 when exports increased by 74% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Mali was the key exporting country with an export of around X tons, which accounted for 74% of total exports. It was distantly followed by Togo (X tons), making up a 26% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to monoammonium phosphate exports from Mali stood at -10.6%. At the same time, Togo (+44.6%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +44.6% from 2012-2022. Togo (+26 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mali ($X) remains the largest monoammonium phosphate supplier in Western Africa, comprising 85% of total exports. The second position in the ranking was held by Togo ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Mali totaled -11.2%.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, with an increase of 1.5% against the previous year. Overall, the export price, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2020 when the export price increased by 12% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mali ($X per ton), while Togo amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (-0.6%).

Monoammonium Phosphate Imports

Imports in Western Africa

In 2022, purchases abroad of monoammonium phosphate (MAP) decreased by -11.7% to X tons, falling for the third consecutive year after two years of growth. Total imports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -20.7% against 2019 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 37%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, monoammonium phosphate imports fell to $X in 2022. In general, imports recorded a mild setback. The most prominent rate of growth was recorded in 2016 with an increase of 21% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Mali represented the largest importing country with an import of about X tons, which resulted at 67% of total imports. It was distantly followed by Ghana (X tons), committing a 25% share of total imports. The following importers - Togo (X tons) and Burkina Faso (X tons) - together made up 5.9% of total imports.

Imports into Mali decreased at an average annual rate of -1.1% from 2012 to 2022. At the same time, Ghana (+62.9%) and Burkina Faso (+9.8%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +62.9% from 2012-2022. By contrast, Togo (-2.9%) illustrated a downward trend over the same period. While the share of Ghana (+24 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Togo (-2.7 p.p.) and Mali (-22 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mali ($X) constitutes the largest market for imported monoammonium phosphate (MAP) in Western Africa, comprising 65% of total imports. The second position in the ranking was held by Ghana ($X), with a 27% share of total imports. It was followed by Togo, with a 3% share.

In Mali, monoammonium phosphate imports shrank by an average annual rate of -4.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (+49.5% per year) and Togo (-8.6% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, surging by 10% against the previous year. In general, the import price, however, recorded a noticeable downturn. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per ton), while Togo ($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 (-3.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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