Western Africa: Starch Manufacture Residues Market 2024

Starch Manufacture Residues Market Size in Western Africa

In 2022, the West African starch manufacture residues market decreased by -16.8% to $X, falling for the fourth consecutive year after seven years of growth. Over the period under review, consumption, however, continues to indicate a prominent increase. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Starch Manufacture Residues Production in Western Africa

In value terms, starch manufacture residues production contracted modestly to $X in 2022 estimated in export price. Overall, production enjoyed resilient growth. The growth pace was the most rapid in 2017 with an increase of 55% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Starch Manufacture Residues Exports

Exports in Western Africa

In 2022, the amount of residues of starch manufacture exported in Western Africa surged to X tons, increasing by 1,014% compared with the previous year's figure. Overall, exports recorded a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 3,276%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, starch manufacture residues exports surged to $X in 2022. Over the period under review, exports saw a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 9,080%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

The shipments of the one major exporters of residues of starch manufacture, namely Nigeria, represented more than two-thirds of total export.

Nigeria was also the fastest-growing in terms of the residues of starch manufacture exports, with a CAGR of +1,887.7% from 2012 to 2022. From 2012 to 2022, the share of Nigeria increased by +99 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest starch manufacture residues supplier in Western Africa.

In Nigeria, starch manufacture residues exports increased at an average annual rate of +361.4% over the period from 2012-2022.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, reducing by -81.7% against the previous year. Overall, the export price recorded a abrupt setback. The growth pace was the most rapid in 2020 when the export price increased by 266%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to -76.7% per year.

Starch Manufacture Residues Imports

Imports in Western Africa

In 2022, the amount of residues of starch manufacture imported in Western Africa surged to X tons, jumping by 52% against the previous year's figure. In general, imports, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2019 when imports increased by 167%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, starch manufacture residues imports surged to $X in 2022. Over the period under review, imports, however, recorded a drastic downturn. The pace of growth was the most pronounced in 2019 when imports increased by 202%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria was the key importer of residues of starch manufacture in Western Africa, with the volume of imports accounting for X tons, which was approx. 62% of total imports in 2022. Niger (X tons) took a 20% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (17%).

From 2012 to 2022, average annual rates of growth with regard to starch manufacture residues imports into Nigeria stood at -14.7%. At the same time, Niger (+20.7%) and Ghana (+12.1%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +20.7% from 2012-2022. From 2012 to 2022, the share of Niger and Ghana increased by +19 and +15 percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported residues of starch manufacture in Western Africa, comprising 75% of total imports. The second position in the ranking was held by Ghana ($X), with a 17% share of total imports.

In Nigeria, starch manufacture residues imports contracted by an average annual rate of -16.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+16.0% per year) and Niger (+21.5% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, growing by 35% against the previous year. Over the period under review, the import price, however, showed a perceptible contraction. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a 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 Nigeria ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+3.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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