ECOWAS: Margarine And Shortening Market 2024

Margarine And Shortening Market Size in ECOWAS

After three years of growth, the ECOWAS margarine and shortening market decreased by X% to $X in 2022. Over the period under review, consumption, however, recorded moderate growth. As a result, consumption attained the peak level of $X, and then dropped significantly in the following year.

Margarine And Shortening Production in ECOWAS

In value terms, margarine and shortening production contracted to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Margarine And Shortening Exports

Exports in ECOWAS

In 2022, overseas shipments of margarine and shortening were finally on the rise to reach X tons after five years of decline. In general, exports, however, continue to indicate a noticeable curtailment. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, margarine and shortening exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a pronounced slump. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Cote d'Ivoire (X tons) represented the major exporter of margarine and shortening, mixing up X% of total exports. It was distantly followed by Senegal (X tons) and Ghana (X tons), together comprising a X% share of total exports. The following exporters - Togo (X tons) and Benin (X tons) - each resulted at a X% share of total exports.

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

In value terms, the largest margarine and shortening supplying countries in ECOWAS were Senegal ($X), Cote d'Ivoire ($X) and Ghana ($X), together comprising X% of total exports.

In terms of the main exporting countries, Senegal, 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 more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the export price recorded a mild descent. The most prominent rate of growth was recorded in 2016 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2021, and then declined significantly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Benin ($X per ton) was amongst the lowest.

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

Margarine And Shortening Imports

Imports in ECOWAS

In 2022, supplies from abroad of margarine and shortening decreased by X% to X tons for the first time since 2015, thus ending a six-year rising trend. Over the period under review, imports, however, posted a tangible increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then dropped significantly in the following year.

In value terms, margarine and shortening imports declined dramatically to $X in 2022. In general, imports, however, saw measured growth. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then declined remarkably in the following year.

Imports by Country

Ghana was the major importing country with an import of about X tons, which resulted at X% of total imports. It was distantly followed by Nigeria (X tons) and Guinea (X tons), together making up a X% share of total imports. Gambia (X tons), Burkina Faso (X tons), Sierra Leone (X tons), Cote d'Ivoire (X tons), Senegal (X tons), Liberia (X tons) and Cabo Verde (X tons) followed a long way behind the leaders.

Imports into Ghana increased at an average annual rate of X% from 2012 to 2022. At the same time, Guinea (X%), Burkina Faso (X%), Cote d'Ivoire (X%), Sierra Leone (X%), Gambia (X%) and Liberia (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Cabo Verde experienced a relatively flat trend pattern. By contrast, Nigeria (X%) and Senegal (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.), Guinea (X p.p.) and Burkina Faso (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Senegal (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 ($X) constitutes the largest market for imported margarine and shortening in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Nigeria ($X), with an X% share of total imports. It was followed by Guinea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (X% per year) and Guinea (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 saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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