ECOWAS: Preserved Sardines Market 2024

Preserved Sardines Market Size in ECOWAS

After four years of growth, the ECOWAS preserved sardines market decreased by X% to $X in 2022. In general, consumption, however, continues to indicate buoyant growth. The level of consumption peaked at $X in 2021, and then reduced in the following year.

Preserved Sardines Production in ECOWAS

In value terms, preserved sardines production dropped to $X in 2022 estimated in export price. Overall, production, however, posted a noticeable increase. The growth pace was the most rapid in 2014 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Preserved Sardines Exports

Exports in ECOWAS

In 2022, preserved sardines exports in ECOWAS fell dramatically to X tons, with a decrease of X% compared with 2021. In general, exports, however, saw temperate growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then contracted dramatically in the following year.

In value terms, preserved sardines exports expanded significantly to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Senegal (X tons), distantly followed by Burkina Faso (X tons), Ghana (X tons), Niger (X tons), Togo (X tons) and Gambia (X tons) were the largest exporters of sardines (prepared or preserved), together comprising X% of total exports. Liberia (X tons) took a relatively small share of total exports.

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

In value terms, Senegal ($X) remains the largest preserved sardines supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports. It was followed by Togo, with an X% share.

In Senegal, preserved sardines exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Togo (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, continues to indicate a pronounced decline. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 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 Senegal ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Preserved Sardines Imports

Imports in ECOWAS

In 2022, purchases abroad of sardines (prepared or preserved) decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, saw a moderate expansion. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021, and then contracted in the following year.

In value terms, preserved sardines imports shrank notably to $X in 2022. Over the period under review, imports, however, posted prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of import peaked at $X in 2021, and then dropped dramatically in the following year.

Imports by Country

Ghana prevails in imports structure, resulting at X tons, which was near X% of total imports in 2022. Guinea (X tons) ranks second in terms of the total imports with a X% share, followed by Togo (X%) and Nigeria (X%). Gambia (X tons), Sierra Leone (X tons), Benin (X tons), Cote d'Ivoire (X tons), Mali (X tons), Liberia (X tons) and Burkina Faso (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to preserved sardines imports into Ghana stood at X%. At the same time, Togo (X%), Sierra Leone (X%), Guinea (X%), Mali (X%), Benin (X%), Liberia (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Gambia experienced a relatively flat trend pattern. By contrast, Cote d'Ivoire (X%) and Nigeria (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.), Guinea (X p.p.), Togo (X p.p.) and Sierra Leone (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Gambia (X p.p.), Cote d'Ivoire (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 ($X) constitutes the largest market for imported sardines (prepared or preserved) in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Guinea ($X), with a X% share of total imports. It was followed by Sierra Leone, with a X% share.

In Ghana, preserved sardines imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Guinea (X% per year) and Sierra Leone (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2021, and then fell in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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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