ECOWAS: Preserved Tuna Market 2024

Preserved Tuna Market Size in ECOWAS

The ECOWAS preserved tuna market rose notably to $X in 2023, growing by X% against the previous year. The total consumption indicated prominent growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Preserved Tuna Production in ECOWAS

In value terms, preserved tuna production declined to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, production reached the peak level at $X in 2022, and then contracted in the following year.

Preserved Tuna Exports

Exports in ECOWAS

In 2023, approx. X tons of tuna (prepared or preserved) were exported in ECOWAS; dropping by X% on the previous year's figure. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, preserved tuna exports dropped to $X in 2023. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Ghana represented the major exporter of tuna (prepared or preserved) in ECOWAS, with the volume of exports recording X tons, which was approx. X% of total exports in 2023. It was distantly followed by Cote d'Ivoire (X tons), Senegal (X tons) and Cabo Verde (X tons), together committing a X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Cabo Verde (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest preserved tuna supplying countries in ECOWAS were Ghana ($X), Cote d'Ivoire ($X) and Senegal ($X), together comprising X% of total exports. Cabo Verde lagged somewhat behind, comprising a further X%.

Among the main exporting countries, Cabo Verde, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, dropping by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2023, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Cabo Verde ($X per ton) and Senegal ($X per ton), while Ghana ($X per ton) and Cote d'Ivoire ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced more modest paces of growth.

Preserved Tuna Imports

Imports in ECOWAS

In 2023, imports of tuna (prepared or preserved) in ECOWAS surged to X tons, increasing by X% on 2022 figures. Total imports indicated a mild increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2023, imports remained at a lower figure.

In value terms, preserved tuna imports soared to $X in 2023. Overall, imports posted a slight increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

Ghana represented the key importer of tuna (prepared or preserved) in ECOWAS, with the volume of imports amounting to X tons, which was near X% of total imports in 2023. It was distantly followed by Cote d'Ivoire (X tons), Togo (X tons), Senegal (X tons) and Mali (X tons), together creating a X% share of total imports. Nigeria (X tons) and Liberia (X tons) held a relatively small share of total imports.

Imports into Ghana increased at an average annual rate of X% from 2012 to 2023. At the same time, Mali (X%), Togo (X%), Cote d'Ivoire (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Liberia (X%) and Nigeria (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.), Togo (X p.p.), Cote d'Ivoire (X p.p.) and Mali (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Liberia (X p.p.) and Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported tuna (prepared or preserved) in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Togo ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Ghana amounted to X%. In the other countries, the average annual rates were as follows: Togo (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2023, rising by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Togo ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform