Western Africa: Wood Charcoal Market 2024

Wood Charcoal Market Size in Western Africa

In 2021, the West African wood charcoal market decreased by -2.2% to $X for the first time since 2017, thus ending a three-year rising trend. The market value increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then dropped slightly in the following year.

Wood Charcoal Production in Western Africa

In value terms, wood charcoal production contracted to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 9.4% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then shrank in the following year.

Wood Charcoal Exports

Exports in Western Africa

In 2021, shipments abroad of wood charcoal decreased by -20.2% to X tons, falling for the third consecutive year after four years of growth. Overall, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 24% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, wood charcoal exports dropped sharply to $X in 2021. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 36% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Nigeria dominates exports structure, accounting for X tons, which was near 91% of total exports in 2021. Ghana (X tons), Benin (X tons) and Cote d'Ivoire (X tons) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to wood charcoal exports from Nigeria stood at -1.3%. At the same time, Benin (+23.5%), Ghana (+7.9%) and Cote d'Ivoire (+6.9%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +23.5% from 2012-2021. From 2012 to 2021, the share of Benin and Ghana increased by +2.4 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest wood charcoal supplier in Western Africa, comprising 92% of total exports. The second position in the ranking was held by Ghana ($X), with a 2.5% share of total exports. It was followed by Cote d'Ivoire, with a 2.3% share.

In Nigeria, wood charcoal exports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ghana (+3.2% per year) and Cote d'Ivoire (+8.8% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, with a decrease of -4.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2013 when the export price increased by 13% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Cote d'Ivoire ($X per ton), while Benin ($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 (+1.8%), while the other leaders experienced mixed trends in the export price figures.

Wood Charcoal Imports

Imports in Western Africa

After two years of decline, overseas purchases of wood charcoal increased by 0.4% to X tons in 2021. In general, imports, however, showed a slight setback. The most prominent rate of growth was recorded in 2013 when imports increased by 194%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, wood charcoal imports soared to $X in 2021. Overall, imports posted a resilient expansion. The pace of growth was the most pronounced in 2013 when imports increased by 5,990% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Gambia dominates imports structure, accounting for X tons, which was near 52% of total imports in 2021. It was distantly followed by Cote d'Ivoire (X tons), Benin (X tons), Togo (X tons), Niger (X tons) and Ghana (X tons), together creating a 35% share of total imports. Nigeria (X tons) followed a long way behind the leaders.

Imports into Gambia decreased at an average annual rate of -8.2% from 2012 to 2021. At the same time, Benin (+93.2%), Togo (+51.6%), Cote d'Ivoire (+39.0%), Niger (+21.7%), Ghana (+21.3%) and Nigeria (+15.2%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +93.2% from 2012-2021. From 2012 to 2021, the share of Benin, Cote d'Ivoire, Togo, Niger, Ghana and Nigeria increased by +9.4, +9.1, +6.7, +4.2, +4 and +2.4 percentage points, respectively.

In value terms, Benin ($X) constitutes the largest market for imported wood charcoal in Western Africa, comprising 41% of total imports. The second position in the ranking was held by Ghana ($X), with a 10% share of total imports. It was followed by Gambia, with a 9.3% share.

From 2012 to 2021, the average annual growth rate of value in Benin amounted to +118.9%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+40.2% per year) and Gambia (-6.0% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, growing by 95% against the previous year. Over the period under review, the import price posted prominent growth. The pace of growth was the most pronounced in 2013 an increase of 1,969%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Benin ($X per ton), while Gambia ($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 (+15.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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