ECOWAS: Dry Peas Market 2024

Dry Peas Market Size in ECOWAS

After two years of growth, the ECOWAS dry peas market decreased by X% to $X in 2023. In general, consumption, however, showed a strong increase. As a result, consumption reached the peak level of $X, and then fell dramatically in the following year.

Dry Peas Production in ECOWAS

In value terms, dry peas production shrank to $X in 2023 estimated in export price. Overall, production continues to indicate a remarkable increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2023 were Sierra Leone (X tons), Mali (X tons) and Niger (X tons), together comprising X% of total production. These countries were followed by Ghana, which accounted for a further X%.

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

The average dry peas yield totaled X kg per ha in 2023, flattening at the previous year. Overall, the yield saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X%. The level of yield peaked at X kg per ha in 2019; however, from 2020 to 2023, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, approx. X ha of peas (dry) were harvested in ECOWAS; flattening at the year before. Over the period under review, the harvested area saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, the harvested area reached the peak level of X ha. From 2016 to 2023, the growth of the dry peas harvested area failed to regain momentum.

Dry Peas Exports

Exports in ECOWAS

In 2023, exports of peas (dry) in ECOWAS soared to X tons, picking up by X% against the year before. Total exports indicated a perceptible expansion from 2012 to 2023: its volume 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, exports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

In value terms, dry peas exports skyrocketed to $X in 2023. Total exports indicated a pronounced increase 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, exports increased by X% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mali (X tons) and Cote d'Ivoire (X tons) dominates exports structure, together mixing up X% of total exports. It was distantly followed by Ghana (X tons) and Senegal (X tons), together comprising a X% share of total exports. Nigeria (X tons), Togo (X tons) and Liberia (X tons) took a little share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Liberia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Togo ($X) and Mali ($X) appeared to be the countries with the highest levels of exports in 2023, together accounting for X% of total exports. Nigeria, Ghana, Liberia and Senegal lagged somewhat behind, together comprising a further X%.

Liberia, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2023, the export price in ECOWAS amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 an increase of X%. Over the period under review, the export prices attained the maximum in 2023 and is expected to retain 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 Togo ($X per ton), while Senegal ($X per ton) was amongst the lowest.

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

Dry Peas Imports

Imports in ECOWAS

After four years of growth, purchases abroad of peas (dry) decreased by X% to X tons in 2023. In general, imports, however, posted a buoyant increase. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2022, and then declined remarkably in the following year.

In value terms, dry peas imports dropped significantly to $X in 2023. Over the period under review, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then shrank notably in the following year.

Imports by Country

Senegal represented the key importing country with an import of about X tons, which reached X% of total imports. Benin (X tons) took the second position in the ranking, distantly followed by Burkina Faso (X tons), Gambia (X tons), Nigeria (X tons) and Liberia (X tons). All these countries together took approx. X% share of total imports. Cote d'Ivoire (X tons) followed a long way behind the leaders.

Imports into Senegal increased at an average annual rate of X% from 2012 to 2023. At the same time, Burkina Faso (X%), Benin (X%), Gambia (X%) and Nigeria (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. Liberia experienced a relatively flat trend pattern. By contrast, Cote d'Ivoire (X%) illustrated a downward trend over the same period. While the share of Benin (X p.p.), Burkina Faso (X p.p.), Gambia (X p.p.) and Nigeria (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Cote d'Ivoire (X p.p.), Liberia (X p.p.) and Senegal (X p.p.) displayed negative dynamics.

In value terms, the largest dry peas importing markets in ECOWAS were Benin ($X), Nigeria ($X) and Burkina Faso ($X), together accounting for X% of total imports.

Burkina Faso, 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, declining by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2022 an increase of X%. As a result, import price reached the peak level of $X per ton, and then shrank markedly in the following year.

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

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

Source: IndexBox Platform