Western Africa: Preserved Salmon Market 2024

Preserved Salmon Market Size in Western Africa

In 2021, after five years of decline, there was growth in the West African preserved salmon market, when its value increased by 0.5% to $X. The total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -28.1% against 2015 indices. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Preserved Salmon Production in Western Africa

In value terms, preserved salmon production reached $X in 2021 estimated in export price. The total production indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -28.2% against 2015 indices. The growth pace was the most rapid in 2015 when the production volume increased by 43% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Preserved Salmon Exports

Exports in Western Africa

In 2021, overseas shipments of salmon (prepared or preserved) were finally on the rise to reach X kg after three years of decline. Over the period under review, exports, however, showed a abrupt downturn. The growth pace was the most rapid in 2017 when exports increased by 4,518% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, preserved salmon exports dropped to $X in 2021. In general, exports, however, recorded a dramatic shrinkage. The pace of growth was the most pronounced in 2017 when exports increased by 948% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Togo was the largest exporter of salmon (prepared or preserved) in Western Africa, with the volume of exports finishing at X kg, which was near 70% of total exports in 2021. It was distantly followed by Senegal (X kg), mixing up a 26% share of total exports. Nigeria (X kg) followed a long way behind the leaders.

Togo was also the fastest-growing in terms of the salmon (prepared or preserved) exports, with a CAGR of +4.6% from 2012 to 2021. Nigeria (-25.7%) and Senegal (-28.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Togo increased by +63 percentage points.

In value terms, Togo ($X), Senegal ($X) and Nigeria ($X) constituted the countries with the highest levels of exports in 2021.

Togo, with a CAGR of -12.3%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries 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, dropping by -21.6% against the previous year. Over the period under review, the export price saw a abrupt decrease. The most prominent rate of growth was recorded in 2018 an increase of 396%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+11.1%), while the other leaders experienced a decline in the export price figures.

Preserved Salmon Imports

Imports in Western Africa

In 2021, the amount of salmon (prepared or preserved) imported in Western Africa reduced rapidly to X tons, falling by -18.8% compared with the previous year. Overall, imports showed a deep downturn. The pace of growth appeared the most rapid in 2017 with an increase of 24%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, preserved salmon imports contracted slightly to $X in 2021. In general, imports showed a pronounced contraction. The pace of growth was the most pronounced in 2016 with an increase of 24%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

The purchases of the four major importers of salmon (prepared or preserved), namely Mali, Mauritania, Cote d'Ivoire and Ghana, represented more than half of total import. Liberia (X tons) held the next position in the ranking, followed by Burkina Faso (X tons) and Sierra Leone (X tons). All these countries together held approx. 23% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Mali (with a CAGR of +74.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved salmon importing markets in Western Africa were Mali ($X), Liberia ($X) and Mauritania ($X), together accounting for 49% of total imports.

In terms of the main importing countries, Mali, with a CAGR of +81.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, rising by 20% against the previous year. Import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +9.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved salmon import price increased by +69.9% against 2017 indices. The most prominent rate of growth was recorded in 2015 an increase of 24% against the previous year. Over the period under review, import prices hit record highs in 2021 and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+15.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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