Western Africa: Salt Market 2024

Salt Market Size in Western Africa

The West African salt market rose rapidly to $X in 2022, surging by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Salt Production in Western Africa

In value terms, salt production shrank to $X in 2022 estimated in export price. In general, production, however, continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Salt Exports

Exports in Western Africa

In 2022, shipments abroad of salt and pure sodium chloride was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Total exports indicated a buoyant expansion from 2012 to 2022: its volume 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. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, salt exports soared to $X in 2022. Overall, exports, however, continue to indicate a slight setback. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Senegal represented the largest exporting country with an export of about X tons, which finished at X% of total exports. It was distantly followed by Ghana (X tons), comprising a X% share of total exports.

Senegal was also the fastest-growing in terms of the salt and pure sodium chloride exports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%) displayed positive paces of growth. From 2012 to 2022, the share of Senegal increased by X percentage points.

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

From 2012 to 2022, the average annual growth rate of value in Senegal stood at X%.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price recorded a deep setback. The most prominent rate of growth was recorded in 2016 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Senegal stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%).

Salt Imports

Imports in Western Africa

In 2022, approx. X tons of salt and pure sodium chloride were imported in Western Africa; surging by X% against 2021. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, salt imports totaled $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Cote d'Ivoire was the major importing country with an import of about X tons, which resulted at X% of total imports. Nigeria (X tons) ranks second in terms of the total imports with a X% share, followed by Burkina Faso (X%), Mali (X%), Niger (X%) and Benin (X%). Sierra Leone (X tons) held a relatively small share of total imports.

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

In value terms, Nigeria ($X) constitutes the largest market for imported salt and pure sodium chloride in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Mali, with a X% share.

In Nigeria, salt imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Mali (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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 Nigeria ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :