Western Africa: Preserved Sweet Corn Market 2024

Preserved Sweet Corn Market Size in Western Africa

In 2022, the West African preserved sweet corn market increased by 21% to $X, rising for the third consecutive year after two years of decline. In general, consumption, however, recorded a perceptible descent. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Preserved Sweet Corn Production in Western Africa

In value terms, preserved sweet corn production stood at $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 44%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Togo (X tons) constituted the country with the largest volume of preserved sweet corn production, accounting for 99.9% of total volume.

From 2012 to 2022, the average annual rate of growth in terms of volume in Togo totaled +1.8%.

Preserved Sweet Corn Exports

Exports in Western Africa

In 2022, the amount of sweet corn prepared or preserved exported in Western Africa fell sharply to X tons, with a decrease of -45% compared with the previous year. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 315% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, preserved sweet corn exports reduced markedly to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 201%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Togo represented the largest exporter of sweet corn prepared or preserved in Western Africa, with the volume of exports reaching X tons, which was approx. 46% of total exports in 2022. Senegal (X tons) held the second position in the ranking, distantly followed by Ghana (X tons), Cote d'Ivoire (X tons) and Nigeria (X tons). All these countries together took approx. 53% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of +44.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved sweet corn supplying countries in Western Africa were Senegal ($X), Togo ($X) and Nigeria ($X), together accounting for 86% of total exports.

Among the main exporting countries, Togo, with a CAGR of +39.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, growing by 53% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 90%. The level of export peaked at $X per ton in 2012; however, from 2013 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 ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+9.4%), while the other leaders experienced mixed trends in the export price figures.

Preserved Sweet Corn Imports

Imports in Western Africa

In 2022, overseas purchases of sweet corn prepared or preserved increased by 7.7% to X tons, rising for the third consecutive year after two years of decline. Overall, imports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 53%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, preserved sweet corn imports skyrocketed to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 106% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria was the main importing country with an import of about X tons, which resulted at 55% of total imports. Senegal (X tons) held the second position in the ranking, followed by Mauritania (X tons), Cabo Verde (X tons) and Cote d'Ivoire (X tons). All these countries together took near 31% share of total imports. The following importers - Benin (X tons) and Ghana (X tons) - together made up 6.7% of total imports.

From 2012 to 2022, average annual rates of growth with regard to preserved sweet corn imports into Nigeria stood at -10.1%. At the same time, Cote d'Ivoire (+23.8%), Mauritania (+15.1%), Ghana (+8.4%) and Senegal (+4.8%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +23.8% from 2012-2022. Cabo Verde experienced a relatively flat trend pattern. By contrast, Benin (-11.0%) illustrated a downward trend over the same period. While the share of Senegal (+8.3 p.p.), Mauritania (+7.6 p.p.), Cote d'Ivoire (+4.4 p.p.), Cabo Verde (+2.9 p.p.) and Ghana (+2.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Benin (-2.5 p.p.) and Nigeria (-27.6 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported sweet corn prepared or preserved in Western Africa, comprising 72% of total imports. The second position in the ranking was taken by Mauritania ($X), with a 7.3% share of total imports. It was followed by Cabo Verde, with a 4.9% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled -1.1%. In the other countries, the average annual rates were as follows: Mauritania (+15.2% per year) and Cabo Verde (+1.8% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, surging by 25% against the previous year. Import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, preserved sweet corn import price increased by +70.7% against 2019 indices. The pace of growth was the most pronounced in 2021 when the import price increased by 35%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

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 ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+10.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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