Western Africa: Sunflower Seed Market 2024

Sunflower Seed Market Size in Western Africa

The West African sunflower seed market surged to $X in 2022, growing by 15% against the previous year. In general, consumption, however, recorded a mild decline. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Sunflower Seed Production in Western Africa

In value terms, sunflower seed production rose significantly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by 32%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Nigeria (X tons) remains the largest sunflower seed producing country in Western Africa, accounting for 72% of total volume. Moreover, sunflower seed production in Nigeria exceeded the figures recorded by the second-largest producer, Cote d'Ivoire (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Nigeria amounted to +2.0%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+2.0% per year) and Sierra Leone (+1.6% per year).

Sunflower Seed Exports

Exports in Western Africa

In 2022, the amount of sunflower seed exported in Western Africa shrank rapidly to X tons, with a decrease of -58.4% against 2021 figures. Overall, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 1,303% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, sunflower seed exports reduced rapidly to $X in 2022. Over the period under review, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2014 with an increase of 479%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Nigeria (X tons) was the largest exporter of sunflower seed in Western Africa, achieving 98% of total export.

Nigeria was also the fastest-growing in terms of the sunflower seed exports, with a CAGR of +51.0% from 2012 to 2022. Nigeria (+27 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, Nigeria ($X) also remains the largest sunflower seed supplier in Western Africa.

In Nigeria, sunflower seed exports increased at an average annual rate of +50.4% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, picking up by 86% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 168% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 -0.4% per year.

Sunflower Seed Imports

Imports in Western Africa

Sunflower seed imports rose rapidly to X tons in 2022, surging by 12% on the previous year. In general, imports enjoyed perceptible growth. The most prominent rate of growth was recorded in 2018 with an increase of 57%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, sunflower seed imports amounted to $X in 2022. Total imports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -7.6% against 2020 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 31% against the previous year. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Burkina Faso (X tons) represented the major importer of sunflower seed, constituting 52% of total imports. It was distantly followed by Mali (X tons), Cabo Verde (X tons), Ghana (X tons), Senegal (X tons) and Nigeria (X tons), together comprising a 45% share of total imports. Cote d'Ivoire (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to sunflower seed imports into Burkina Faso stood at +1.4%. At the same time, Cabo Verde (+39.1%), Nigeria (+29.7%), Cote d'Ivoire (+17.8%) and Mali (+16.7%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +39.1% from 2012-2022. By contrast, Senegal (-2.6%) and Ghana (-3.1%) illustrated a downward trend over the same period. Mali (+13 p.p.), Cabo Verde (+7.3 p.p.) and Nigeria (+5 p.p.) significantly strengthened its position in terms of the total imports, while Senegal, Ghana and Burkina Faso saw its share reduced by -4.8%, -6.5% and -10.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Burkina Faso ($X), Mali ($X) and Cabo Verde ($X) constituted the countries with the highest levels of imports in 2022, with a combined 73% share of total imports.

Cabo Verde, with a CAGR of +41.1%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, declining by -3.5% against the previous year. Over the period under review, the import price saw a slight setback. The most prominent rate of growth was recorded in 2013 when the import price increased by 13%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cabo Verde ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+12.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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