Western Africa: Frozen Norway Lobster Market 2024

Frozen Norway Lobster Market Size in Western Africa

The West African frozen norway lobster market dropped modestly to $X in 2022, leveling off at the previous year. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Frozen Norway Lobster Production in Western Africa

In value terms, frozen norway lobster production totaled $X in 2022 estimated in export price. In general, production, however, showed a resilient increase. The pace of growth appeared the most rapid in 2017 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Frozen Norway Lobster Exports

Exports in Western Africa

In 2022, shipments abroad of frozen norway lobsters was finally on the rise to reach X kg for the first time since 2018, thus ending a three-year declining trend. Overall, exports saw a strong increase. The pace of growth appeared the most rapid in 2016 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen norway lobster exports surged to $X in 2022. Over the period under review, exports showed significant growth. The pace of growth appeared the most rapid in 2016 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Nigeria (X kg) was the key exporter of frozen norway lobsters, generating X% of total exports. It was distantly followed by Senegal (X kg), committing a X% share of total exports. Mauritania (X kg) took a minor share of total exports.

Exports from Nigeria decreased at an average annual rate of X% from 2014 to 2022. Senegal (X%) and Mauritania (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.) and Mauritania (X p.p.) increased significantly in terms of the total exports from 2014-2022, the share of Senegal (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) emerged as the largest frozen norway lobster supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports.

From 2014 to 2022, the average annual rate of growth in terms of value in Nigeria amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (X% per year) and Mauritania (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price showed a strong expansion. The growth pace was the most rapid in 2019 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the export prices failed to regain momentum.

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

From 2014 to 2022, the most notable rate of growth in terms of prices was attained by Mauritania (X%), while the other leaders experienced mixed trends in the export price figures.

Frozen Norway Lobster Imports

Imports in Western Africa

In 2022, overseas purchases of frozen norway lobsters increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, imports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen norway lobster imports amounted to $X in 2022. Over the period under review, imports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2018 when imports increased by X%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Cabo Verde was the main importer of frozen norway lobsters in Western Africa, with the volume of imports amounting to X kg, which was approx. X% of total imports in 2022. Cote d'Ivoire (X kg) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Niger (X%) and Benin (X%). The following importers - Burkina Faso (X kg) and Mali (X kg) - each recorded a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to frozen norway lobster imports into Cabo Verde stood at X%. At the same time, Cote d'Ivoire (X%), Niger (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Benin (X%) and Mali (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.), Niger (X p.p.), Benin (X p.p.), Burkina Faso (X p.p.) and Mali (X p.p.) significantly strengthened its position in terms of the total imports, while Cabo Verde saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Cabo Verde ($X) constitutes the largest market for imported frozen norway lobsters in Western Africa, comprising X% of total imports. The second position in the ranking was held by Niger ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Cabo Verde stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Niger (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, waning by X% against the previous year. Import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen norway lobster import price increased by X% against 2019 indices. The growth pace was the most rapid in 2018 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2019 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 Burkina Faso ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :