Western Africa: Potassic Fertilizer Market 2024

Potassic Fertilizer Market Size in Western Africa

In 2022, the West African potassic fertilizer market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, recorded a abrupt downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Potassic Fertilizer Production in Western Africa

In value terms, potassic fertilizer production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of X%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Potassic Fertilizer Exports

Exports in Western Africa

In 2022, overseas shipments of potassic fertilizers increased by X% to X tons, rising for the second consecutive year after three years of decline. Overall, exports, however, saw a pronounced shrinkage. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, potassic fertilizer exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt setback. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Nigeria (X tons) represented the major exporter of potassic fertilizers, creating X% of total exports. Cote d'Ivoire (X tons) ranks second in terms of the total exports with a X% share, followed by Togo (X%). The following exporters - Ghana (X tons) and Senegal (X tons) - each accounted for a X% share of total exports.

Nigeria was also the fastest-growing in terms of the potassic fertilizers exports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%), Senegal (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. By contrast, Togo (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.), Cote d'Ivoire (X p.p.), Togo (X p.p.), Ghana (X p.p.) and Senegal (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) emerged as the largest potassic fertilizer supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports. It was followed by Togo, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria stood at X%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Togo (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, reducing by X% against the previous year. Overall, the export price recorded a abrupt downturn. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum 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 Cote d'Ivoire ($X per ton), while Ghana ($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 (X%), while the other leaders experienced a decline in the export price figures.

Potassic Fertilizer Imports

Imports in Western Africa

In 2022, the amount of potassic fertilizers imported in Western Africa surged to X tons, with an increase of X% compared with the previous year. Overall, imports recorded buoyant growth. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, potassic fertilizer imports skyrocketed to $X in 2022. In general, imports saw a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Cote d'Ivoire represented the major importer of potassic fertilizers in Western Africa, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. It was distantly followed by Mali (X tons), Senegal (X tons), Ghana (X tons) and Nigeria (X tons), together generating a X% share of total imports.

Imports into Cote d'Ivoire increased at an average annual rate of X% from 2012 to 2022. At the same time, Ghana (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Mali experienced a relatively flat trend pattern. By contrast, Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cote d'Ivoire, Ghana and Senegal increased by X, X and X percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported potassic fertilizers in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria stood at X%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Senegal (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, jumping by X% against the previous year. Overall, the import price posted notable growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Nigeria ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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