Western Africa: Tapioca And Substitutes Market 2024

Tapioca And Substitutes Market Size in Western Africa

In 2021, after two years of decline, there was significant growth in the West African tapioca and substitutes market, when its value increased by 301% to $X. Overall, consumption showed buoyant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Tapioca And Substitutes Production in Western Africa

In value terms, tapioca and substitutes production declined modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.7% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 12% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then contracted slightly in the following year.

Tapioca And Substitutes Exports

Exports in Western Africa

In 2021, overseas shipments of tapioca and substitutes decreased by -56% to X tons for the first time since 2014, thus ending a six-year rising trend. In general, exports, however, posted a moderate increase. The pace of growth was the most pronounced in 2015 when exports increased by 69%. Over the period under review, the exports attained the maximum at X tons in 2020, and then plummeted in the following year.

In value terms, tapioca and substitutes exports dropped sharply to $X in 2021. Overall, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 46%. Over the period under review, the exports reached the peak figure at $X in 2020, and then declined rapidly in the following year.

Exports by Country

Cote d'Ivoire dominates exports structure, reaching X tons, which was approx. 82% of total exports in 2021. It was distantly followed by Nigeria (X tons) and Ghana (X tons), together mixing up a 13% share of total exports. Togo (X tons) followed a long way behind the leaders.

Exports from Cote d'Ivoire increased at an average annual rate of +2.7% from 2012 to 2021. At the same time, Ghana (+31.1%), Togo (+29.0%) and Nigeria (+22.0%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +31.1% from 2012-2021. From 2012 to 2021, the share of Ghana, Nigeria and Togo increased by +5.5, +4.9 and +3.6 percentage points, respectively.

In value terms, Cote d'Ivoire ($X) remains the largest tapioca and substitutes supplier in Western Africa, comprising 76% of total exports. The second position in the ranking was taken by Nigeria ($X), with an 11% share of total exports. It was followed by Ghana, with a 5.8% share.

In Cote d'Ivoire, tapioca and substitutes exports increased at an average annual rate of +9.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Nigeria (+24.5% per year) and Ghana (+25.3% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, rising by 40% against the previous year. Export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, tapioca and substitutes export price increased by +62.4% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+6.7%), while the other leaders experienced more modest paces of growth.

Tapioca And Substitutes Imports

Imports in Western Africa

In 2021, purchases abroad of tapioca and substitutes was finally on the rise to reach X tons after two years of decline. Overall, imports continue to indicate buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, tapioca and substitutes imports skyrocketed to $X in 2021. Over the period under review, imports saw a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria was the key importing country with an import of around X tons, which recorded 66% of total imports. It was distantly followed by Senegal (X tons), Ghana (X tons) and Guinea (X tons), together creating a 25% share of total imports. The following importers - Togo (X tons) and Sierra Leone (X tons) - each reached a 6.3% share of total imports.

Nigeria was also the fastest-growing in terms of the tapioca and substitutes imports, with a CAGR of +63.8% from 2012 to 2021. At the same time, Ghana (+19.6%), Guinea (+9.8%), Togo (+8.3%) and Sierra Leone (+3.3%) displayed positive paces of growth. By contrast, Senegal (-1.9%) illustrated a downward trend over the same period. Nigeria (+63 p.p.) significantly strengthened its position in terms of the total imports, while Togo, Guinea, Sierra Leone and Senegal saw its share reduced by -3.8%, -4.3%, -6.4% and -41.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported tapioca and substitutes in Western Africa, comprising 75% of total imports. The second position in the ranking was held by Ghana ($X), with a 9.4% share of total imports. It was followed by Guinea, with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria stood at +62.1%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+18.5% per year) and Guinea (+7.9% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, surging by 27% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Ghana (-0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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