ECOWAS: Potato Market 2024

Potato Market Size in ECOWAS

In 2023, the ECOWAS potato market decreased by X% to $X for the first time since 2018, thus ending a four-year rising trend. Over the period under review, consumption, however, recorded a strong increase. Over the period under review, the market hit record highs at $X in 2022, and then fell in the following year.

Potato Production in ECOWAS

In value terms, potato production totaled $X in 2023 estimated in export price. Overall, production, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Nigeria (X tons) constituted the country with the largest volume of potato production, comprising approx. X% of total volume. Moreover, potato production in Nigeria exceeded the figures recorded by the second-largest producer, Guinea (X tons), threefold. Niger (X tons) ranked third in terms of total production with a X% share.

In Nigeria, potato production increased at an average annual rate of X% over the period from 2012-2023. The remaining producing countries recorded the following average annual rates of production growth: Guinea (X% per year) and Niger (X% per year).

In 2023, the average yield of potatoes in ECOWAS fell slightly to X tons per ha, shrinking by X% compared with the previous year's figure. The yield figure increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the potato yield hit record highs at X tons per ha in 2022, and then contracted slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, the total area harvested in terms of potatoes production in ECOWAS contracted slightly to X ha, therefore, remained relatively stable against the previous year's figure. The harvested area increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of harvested area peaked at X ha in 2022, and then fell slightly in the following year.

Potato Exports

Exports in ECOWAS

In 2023, shipments abroad of potatoes decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, exports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2016 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2017 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, potato exports reduced sharply to $X in 2023. Overall, exports, however, showed resilient growth. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2023, Cote d'Ivoire (X tons) was the major exporter of potatoes, mixing up X% of total exports. Niger (X tons) took the second position in the ranking, followed by Mali (X tons) and Burkina Faso (X tons). All these countries together took near X% share of total exports. Gambia (X tons), Ghana (X tons) and Senegal (X tons) followed a long way behind the leaders.

Exports from Cote d'Ivoire increased at an average annual rate of X% from 2012 to 2023. At the same time, Gambia (X%), Ghana (X%), Niger (X%), Mali (X%), Burkina Faso (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. While the share of Cote d'Ivoire (X p.p.), Niger (X p.p.), Mali (X p.p.), Burkina Faso (X p.p.), Gambia (X p.p.) and Ghana (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest potato supplying countries in ECOWAS were Cote d'Ivoire ($X), Niger ($X) and Mali ($X), together accounting for X% of total exports. Burkina Faso, Ghana, Gambia and Senegal lagged somewhat behind, together comprising a further X%.

Gambia, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of 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 ECOWAS stood at $X per ton in 2023, with an increase of X% against the previous year. Export price indicated noticeable growth from 2012 to 2023: its price 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, potato export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2022 an increase of X%. Over the period under review, the export prices reached the maximum in 2023 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Niger ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Potato Imports

Imports in ECOWAS

Potato imports fell to X tons in 2023, which is down by X% against the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

In value terms, potato imports expanded notably to $X in 2023. Total imports indicated a measured expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure in 2023 and are likely to see steady growth in the immediate term.

Imports by Country

Cote d'Ivoire (X tons), Senegal (X tons) and Mali (X tons) represented roughly X% of total imports in 2023. The following importers - Burkina Faso (X tons), Nigeria (X tons), Cabo Verde (X tons), Gambia (X tons), Benin (X tons) and Niger (X tons) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Nigeria (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mali ($X), Senegal ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Nigeria, Cabo Verde, Gambia, Benin, Niger and Burkina Faso lagged somewhat behind, together accounting for a further X%.

Nigeria, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries 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 2023, rising by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. Over the period under review, import prices hit record highs in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Nigeria ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2023, 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