Western Africa: Potassium Chloride (Mop) Market 2024

Potassium Chloride (Mop) Market Size in Western Africa

After two years of decline, the West African potassium chloride (MOP) market increased by 171% to $X in 2022. The total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Potassium Chloride (Mop) Production in Western Africa

In value terms, potassium chloride (MOP) production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a significant increase. The growth pace was the most rapid in 2013 with an increase of 18,160%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Potassium Chloride (Mop) Exports

Exports in Western Africa

In 2022, shipments abroad of potassium chloride (MOP) was finally on the rise to reach X tons after four years of decline. Over the period under review, exports, however, faced a precipitous decline. The most prominent rate of growth was recorded in 2014 when exports increased by 675% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, potassium chloride (MOP) exports shrank sharply to $X in 2022. Overall, exports, however, continue to indicate a significant decrease. The most prominent rate of growth was recorded in 2016 with an increase of 788%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire was the major exporting country with an export of about X tons, which recorded 81% of total exports. It was distantly followed by Senegal (X tons), mixing up a 19% share of total exports.

Exports from Cote d'Ivoire decreased at an average annual rate of -19.8% from 2012 to 2022. At the same time, Senegal (+51.0%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +51.0% from 2012-2022. Cote d'Ivoire (+57 p.p.) and Senegal (+19 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, Cote d'Ivoire ($X) emerged as the largest potassium chloride (MOP) supplier in Western Africa, comprising 71% of total exports. The second position in the ranking was taken by Senegal ($X), with a 29% share of total exports.

In Cote d'Ivoire, potassium chloride (MOP) exports contracted by an average annual rate of -28.9% over the period from 2012-2022.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, waning by -81.3% against the previous year. Over the period under review, the export price recorded a abrupt contraction. The most prominent rate of growth was recorded in 2021 when the export price increased by 403% against the previous year. As a result, the export price attained the peak level of $X per ton, and then shrank notably in the following year.

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 Senegal ($X per ton), while Cote d'Ivoire amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (-6.9%).

Potassium Chloride (Mop) Imports

Imports in Western Africa

Potassium chloride (MOP) imports skyrocketed to X tons in 2022, jumping by 175% compared with the previous year. In general, imports showed a pronounced expansion. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, potassium chloride (MOP) imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a mild slump. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Cote d'Ivoire represented the major importer of potassium chloride (MOP) in Western Africa, with the volume of imports recording X tons, which was near 69% of total imports in 2022. Senegal (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (12%). The following importers - Burkina Faso (X tons) and Liberia (X tons) - each reached a 4% share of total imports.

Imports into Cote d'Ivoire increased at an average annual rate of +10.8% from 2012 to 2022. At the same time, Senegal (+14.2%), Burkina Faso (+3.9%) and Ghana (+3.4%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +14.2% from 2012-2022. Liberia experienced a relatively flat trend pattern. Cote d'Ivoire (+39 p.p.), Senegal (+8.5 p.p.) and Liberia (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported potassium chloride (MOP) in Western Africa, comprising 53% of total imports. The second position in the ranking was taken by Ghana ($X), with a 22% share of total imports. It was followed by Senegal, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire amounted to +5.8%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+8.0% per year) and Senegal (+9.1% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, surging by 38% against the previous year. Over the period under review, the import price, however, recorded a noticeable slump. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Liberia ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+4.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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