ECOWAS: Butter And Ghee Market 2024

Butter And Ghee Market Size in ECOWAS

The ECOWAS butter and ghee market expanded modestly to $X in 2022, growing by X% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Butter And Ghee Production in ECOWAS

In value terms, butter and ghee production rose remarkably to $X in 2022 estimated in export price. The total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Butter And Ghee Exports

Exports in ECOWAS

In 2022, the amount of butter and ghee exported in ECOWAS contracted rapidly to X tons, waning by X% compared with the previous year's figure. Overall, exports faced a abrupt contraction. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, butter and ghee exports dropped dramatically to $X in 2022. Over the period under review, exports recorded a abrupt decline. The growth pace was the most rapid in 2013 when exports increased by X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Ghana (X tons) was the largest exporter of butter and ghee, comprising X% of total exports. Gambia (X tons) ranks second in terms of the total exports with a X% share, followed by Benin (X%) and Burkina Faso (X%). Senegal (X tons), Nigeria (X tons) and Cote d'Ivoire (X tons) followed a long way behind the leaders.

Exports from Ghana increased at an average annual rate of X% from 2012 to 2022. At the same time, Burkina Faso (X%), Senegal (X%) and Gambia (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Cote d'Ivoire (X%), Benin (X%) and Nigeria (X%) illustrated a downward trend over the same period. Ghana (X p.p.), Gambia (X p.p.), Burkina Faso (X p.p.) and Senegal (X p.p.) significantly strengthened its position in terms of the total exports, while Nigeria and Benin saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest butter and ghee supplying countries in ECOWAS were Ghana ($X), Benin ($X) and Burkina Faso ($X), together comprising X% of total exports.

Burkina Faso, with a CAGR of X%, 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

In 2022, the export price in ECOWAS amounted to $X per ton, waning by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2013 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Gambia ($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 (X%), while the other leaders experienced more modest paces of growth.

Butter And Ghee Imports

Imports in ECOWAS

In 2022, butter and ghee imports in ECOWAS shrank to X tons, waning by X% against the previous year's figure. In general, imports recorded a perceptible decline. The growth pace was the most rapid in 2020 with an increase of X%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, butter and ghee imports expanded significantly to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Ghana (X tons), Nigeria (X tons), Cote d'Ivoire (X tons), Burkina Faso (X tons) and Senegal (X tons) represented the largest importer of butter and ghee in ECOWAS, comprising X% of total import. Mali (X tons) and Benin (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Among the main importing countries, Cote d'Ivoire, with a CAGR of X%, recorded 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 ECOWAS stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2017 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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