Western Africa: Preserved Tuna Market 2024

Preserved Tuna Market Size in Western Africa

The West African preserved tuna market dropped to $X in 2021, declining by -7.1% against the previous year. The total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +7.4% against 2019 indices. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Preserved Tuna Production in Western Africa

In value terms, preserved tuna production reduced to $X in 2021 estimated in export price. The total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +5.0% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 29%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Preserved Tuna Exports

Exports in Western Africa

Preserved tuna exports surged to X tons in 2021, with an increase of 25% compared with the previous year's figure. The total export volume increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, preserved tuna exports soared to $X in 2021. The total export value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Ghana was the key exporting country with an export of about X tons, which accounted for 58% of total exports. Cote d'Ivoire (X tons) held a 36% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (5.9%).

From 2012 to 2021, the biggest increases were recorded for Senegal (with a CAGR of +59.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Cote d'Ivoire ($X) and Senegal ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 100% of total exports.

Senegal, with a CAGR of +58.8%, recorded the highest growth rate of the value of exports, among the main exporting countries 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 2021, remaining relatively unchanged against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the export price increased by 15% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+1.2%), while the other leaders experienced a decline in the export price figures.

Preserved Tuna Imports

Imports in Western Africa

In 2021, the amount of tuna (prepared or preserved) imported in Western Africa shrank to X tons, therefore, remained relatively stable against the previous year's figure. Over the period under review, imports, however, posted strong growth. The pace of growth appeared the most rapid in 2014 with an increase of 82% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020, and then reduced modestly in the following year.

In value terms, preserved tuna imports skyrocketed to $X in 2021. In general, imports, however, saw strong growth. The most prominent rate of growth was recorded in 2018 when imports increased by 69% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

The countries with the highest levels of preserved tuna imports in 2021 were Cabo Verde (X tons), Mauritania (X tons) and Cote d'Ivoire (X tons), together accounting for 65% of total import. Ghana (X tons) held the next position in the ranking, followed by Mali (X tons) and Senegal (X tons). All these countries together held approx. 24% share of total imports. The following importers - Nigeria (X tons) and Liberia (X tons) - together made up 5.9% of total imports.

From 2012 to 2021, the biggest increases were recorded for Mali (with a CAGR of +78.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved tuna importing markets in Western Africa were Mauritania ($X), Cabo Verde ($X) and Cote d'Ivoire ($X), together accounting for 71% of total imports. Ghana, Mali, Senegal, Nigeria and Liberia lagged somewhat behind, together accounting for a further 25%.

Among the main importing countries, Mali, with a CAGR of +74.9%, saw the highest rates of growth with regard to 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

The import price in Western Africa stood at $X per ton in 2021, increasing by 26% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.9%. As a result, import price attained the peak level 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 Mauritania ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cabo Verde (+12.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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