Western Africa: Mushroom And Truffle Market 2024

Mushroom And Truffle Market Size in Western Africa

In 2022, after five years of growth, there was significant decline in the West African mushroom and truffle market, when its value decreased by -19.8% to $X. In general, consumption, however, enjoyed a notable increase. Over the period under review, the market hit record highs at $X in 2021, and then shrank markedly in the following year.

Mushroom And Truffle Production in Western Africa

In value terms, mushroom and truffle production totaled $X in 2022 estimated in export price. The total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.6% against 2020 indices. The growth pace was the most rapid in 2016 when the production volume increased by 18% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Guinea (X tons) remains the largest mushroom and truffle producing country in Western Africa, accounting for 58% of total volume. Moreover, mushroom and truffle production in Guinea exceeded the figures recorded by the second-largest producer, Nigeria (X tons), fourfold. The third position in this ranking was held by Mauritania (X tons), with a 13% share.

In Guinea, mushroom and truffle production increased at an average annual rate of +1.5% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Nigeria (+2.0% per year) and Mauritania (+1.9% per year).

Mushroom And Truffle Exports

Exports in Western Africa

In 2022, overseas shipments of mushrooms and truffles decreased by -46.8% to X tons, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2016 with an increase of 1,253% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, mushroom and truffle exports declined sharply to $X in 2022. Overall, exports saw a abrupt descent. The growth pace was the most rapid in 2016 when exports increased by 680%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Nigeria represented the largest exporter of mushrooms and truffles in Western Africa, with the volume of exports recording X tons, which was approx. 50% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X tons) and Senegal (X tons), together comprising a 43% share of total exports. The following exporters - Sierra Leone (X kg) and Mali (X kg) - together made up 5.1% of total exports.

From 2012 to 2022, the biggest increases were recorded for Sierra Leone (with a CAGR of +9.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Senegal ($X) and Sierra Leone ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 71% of total exports.

In terms of the main exporting countries, Sierra Leone, with a CAGR of +13.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, waning by -6.8% against the previous year. In general, the export price saw a perceptible reduction. The growth pace was the most rapid in 2021 an increase of 82% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Sierra Leone ($X per ton), while Nigeria ($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 (+4.6%), while the other leaders experienced more modest paces of growth.

Mushroom And Truffle Imports

Imports in Western Africa

In 2022, imports of mushrooms and truffles in Western Africa contracted dramatically to X tons, shrinking by -68.1% against 2021 figures. Overall, imports, however, continue to indicate moderate growth. The growth pace was the most rapid in 2013 when imports increased by 415%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, mushroom and truffle imports dropped dramatically to $X in 2022. Over the period under review, imports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 332%. Over the period under review, imports hit record highs at $X in 2021, and then dropped sharply in the following year.

Imports by Country

Nigeria was the largest importer of mushrooms and truffles in Western Africa, with the volume of imports finishing at X tons, which was approx. 49% of total imports in 2022. Mauritania (X tons) ranks second in terms of the total imports with an 18% share, followed by Niger (9.9%) and Ghana (7.3%). Cote d'Ivoire (X tons), Togo (X tons) and Senegal (X tons) took a relatively small share of total imports.

Imports into Nigeria increased at an average annual rate of +9.2% from 2012 to 2022. At the same time, Mauritania (+83.8%), Niger (+32.9%), Ghana (+14.1%) and Senegal (+5.2%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +83.8% from 2012-2022. By contrast, Togo (-2.7%) and Cote d'Ivoire (-3.8%) illustrated a downward trend over the same period. Nigeria (+21 p.p.), Mauritania (+18 p.p.), Niger (+9.1 p.p.) and Ghana (+4.6 p.p.) significantly strengthened its position in terms of the total imports, while Togo and Cote d'Ivoire saw its share reduced by -3.2% and -4.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported mushrooms and truffles in Western Africa, comprising 50% of total imports. The second position in the ranking was held by Ghana ($X), with a 12% share of total imports. It was followed by Mauritania, with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria stood at +9.4%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+11.8% per year) and Mauritania (+55.5% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, rising by 20% against the previous year. Import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mushroom and truffle import price decreased by -18.1% against 2018 indices. The pace of growth was the most pronounced in 2018 when the import price increased by 54% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+11.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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