Western Africa: Peat Market 2022

Peat Market Size in Western Africa

The West African peat market skyrocketed to $X in 2021, growing by X% against the previous year. Over the period under review, consumption continues to indicate buoyant growth. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Peat Production in Western Africa

In value terms, peat production fell to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Peat Exports

Exports in Western Africa

In 2021, approx. X tons of peat were exported in Western Africa; growing by X% on the previous year's figure. Overall, exports saw a noticeable expansion. The growth pace was the most rapid in 2019 with an increase of X%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, peat exports surged to $X in 2021. Over the period under review, exports, however, recorded a perceptible reduction. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Ghana represented the key exporter of peat in Western Africa, with the volume of exports reaching X tons, which was approx. X% of total exports in 2021. It was distantly followed by Sierra Leone (X tons), comprising a X% share of total exports. Senegal (X kg) followed a long way behind the leaders.

Ghana was also the fastest-growing in terms of the peat exports, with a CAGR of +X% from 2012 to 2021. Sierra Leone (-X%) and Senegal (-X%) illustrated a downward trend over the same period. While the share of Ghana (+X p.p.) and Senegal (+X p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Sierra Leone (-X p.p.) displayed negative dynamics.

In value terms, the largest peat supplying countries in Western Africa were Ghana ($X), Senegal ($X) and Sierra Leone ($X terms of the main exporting countries, Ghana, with a CAGR of +X%, 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 a decline in the exports figures.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, which is down by -X% against the previous year. In general, the export price recorded a deep reduction. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the the export prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Senegal ($X per ton), while Ghana ($X per ton) was amongst the lowest.

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

Peat Imports

Imports in Western Africa

In 2021, the amount of peat imported in Western Africa skyrocketed to X tons, increasing by X% on the previous year's figure. Total imports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +X% 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 +X% against 2018 indices. The most prominent rate of growth was recorded in 2014 when imports increased by X%. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, peat imports skyrocketed to $X in 2021. Over the period under review, imports recorded a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria (X tons) and Senegal (X tons) represented roughly X% of total imports in 2021. Ghana (X tons) took the next position in the ranking, followed by Sierra Leone (X tons). All these countries together held near X% share of total imports. The following importers - Mali (X tons), Liberia (X tons) and Burkina Faso (X tons) - together made up X% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Burkina Faso (with a CAGR of +X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Senegal ($X) and Ghana ($X) were the countries with the highest levels of imports in 2021, together accounting for X% of total imports. These countries were followed by Burkina Faso, Sierra Leone, Mali and Liberia, which together accounted for a further X Faso, with a CAGR of +X%, saw the highest rates of growth with regard to the value of imports, among 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

The import price in Western Africa stood at $X per ton in 2021, increasing by X% against the previous year. Import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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