ECOWAS: Market for Flaked or Rolled Cereals 2024

Market Size for Flaked or Rolled Cereals in ECOWAS

The ECOWAS flaked or rolled cereal market fell to $X in 2022, dropping by X% against the previous year. Overall, consumption showed a resilient increase. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Flaked or Rolled Cereals in ECOWAS

In value terms, flaked or rolled cereal production fell modestly to $X in 2022 estimated in export price. Overall, production enjoyed prominent growth. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Flaked or Rolled Cereals

Exports in ECOWAS

Flaked or rolled cereal exports surged to X tons in 2022, increasing by X% on 2021. Over the period under review, exports recorded resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, flaked or rolled cereal exports surged to $X in 2022. Overall, exports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by X%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Cote d'Ivoire was the major exporting country with an export of around X tons, which reached X% of total exports. Ghana (X tons) held the second position in the ranking, distantly followed by Nigeria (X tons). All these countries together held approx. X% share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the flaked or rolled cereals exports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%) and Nigeria (X%) displayed positive paces of growth. From 2012 to 2022, the share of Cote d'Ivoire, Ghana and Nigeria increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) emerged as the largest flaked or rolled cereal supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports.

In Cote d'Ivoire, flaked or rolled cereal exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (X% per year) and Nigeria (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the export price showed a noticeable contraction. The most prominent rate of growth was recorded in 2019 when the export price increased by X%. The level of export peaked at $X per ton in 2020; however, from 2021 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 Ghana ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced a decline in the export price figures.

Imports of Flaked or Rolled Cereals

Imports in ECOWAS

In 2022, the amount of flaked or rolled cereals imported in ECOWAS dropped to X tons, waning by X% against the previous year. Overall, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, flaked or rolled cereal imports soared to $X in 2022. Over the period under review, imports, however, saw a significant increase. The pace of growth appeared the most rapid in 2017 when imports increased by X%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Nigeria prevails in imports structure, finishing at X tons, which was near X% of total imports in 2022. It was distantly followed by Cote d'Ivoire (X tons), achieving a X% share of total imports. Senegal (X tons), Burkina Faso (X tons), Cabo Verde (X tons) and Mali (X tons) took a little share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Burkina Faso (X%), Senegal (X%), Mali (X%), Cote d'Ivoire (X%) and Cabo Verde (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Nigeria, Senegal and Burkina Faso increased by X, X and X percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported flaked or rolled cereals in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Burkina Faso, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Burkina Faso (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, jumping by X% against the previous year. In general, the import price posted prominent growth. The growth pace was the most rapid in 2020 when the import price increased by X%. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

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

Source: IndexBox Platform