Western Africa: Spice Market 2024

Spice Market Size in Western Africa

In 2022, the West African spice market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. The total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Spice Production in Western Africa

In value terms, spice production rose rapidly to $X in 2022 estimated in export price. Overall, production continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2015 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The country with the largest volume of spice production was Nigeria (X tons), comprising approx. X% of total volume. Moreover, spice production in Nigeria exceeded the figures recorded by the second-largest producer, Cote d'Ivoire (X tons), sixfold. Benin (X tons) ranked third in terms of total production with a X% share.

In Nigeria, spice production increased at an average annual rate of X% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Cote d'Ivoire (X% per year) and Benin (X% per year).

In 2022, the average spice yield in Western Africa reached X tons per ha, approximately mirroring the previous year's figure. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the yield increased by X%. Over the period under review, the spice yield hit record highs at X tons per ha in 2017; however, from 2018 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The spice harvested area reduced slightly to X ha in 2022, waning by X% against 2021. The harvested area increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2019 to 2022, the growth of the spice harvested area failed to regain momentum.

Spice Exports

Exports in Western Africa

In 2022, the amount of spices exported in Western Africa skyrocketed to X tons, with an increase of X% on the year before. In general, exports enjoyed a tangible expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The volume of export peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, spice exports soared to $X in 2022. Over the period under review, exports, however, showed a pronounced descent. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Nigeria prevails in exports structure, accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X tons), comprising a X% share of total exports. The following exporters - Ghana (X tons) and Mali (X tons) - each finished at a X% share of total exports.

Exports from Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%), Ghana (X%) and Mali (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Cote d'Ivoire increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest spice supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total exports. It was followed by Ghana, with a X% share.

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

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price, however, continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2020 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Mali ($X per ton) was amongst the lowest.

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

Spice Imports

Imports in Western Africa

Spice imports soared to X tons in 2022, with an increase of X% on 2021 figures. In general, imports showed a strong expansion. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, spice imports skyrocketed to $X in 2022. Overall, imports continue to indicate strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Nigeria (X tons) was the key importer of spices, committing X% of total imports. Senegal (X tons) took the second position in the ranking, followed by Ghana (X tons) and Mali (X tons). All these countries together held near X% share of total imports. The following importers - Burkina Faso (X tons), Cote d'Ivoire (X tons) and Togo (X tons) - each accounted for a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to spice imports into Nigeria stood at X%. At the same time, Togo (X%), Mali (X%), Burkina Faso (X%), Ghana (X%), Cote d'Ivoire (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Mali (X p.p.), Ghana (X p.p.) and Togo (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported spices in Western Africa, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to X%. In the other countries, the average annual rates were as follows: Ghana (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, shrinking by X% against the previous year. In general, the import price continues to indicate a slight setback. The growth pace was the most rapid in 2014 an increase of X%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per ton), while Burkina Faso ($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 (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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