ECOWAS: Market for Starch other than Wheat, Corn or Potato 2024

Market Size for Starch other than Wheat, Corn or Potato in ECOWAS

The ECOWAS market for starch other than wheat, corn or potato shrank to $X in 2023, declining by X% against the previous year. In general, consumption, however, saw a resilient expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2023, consumption stood at a somewhat lower figure.

Production of Starch other than Wheat, Corn or Potato in ECOWAS

In value terms, production of starch other than wheat, corn or potato contracted slightly to $X in 2023 estimated in export price. In general, production, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2023, production stood at a somewhat lower figure.

Exports of Starch other than Wheat, Corn or Potato

Exports in ECOWAS

Exports of starch other than wheat, corn or potato surged to X tons in 2023, increasing by X% compared with 2022. Overall, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2022 when exports increased by X%. Over the period under review, the exports of reached the maximum at X tons in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

In value terms, exports of starch other than wheat, corn or potato surged to $X in 2023. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports of hit record highs at $X in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

Exports by Country

Nigeria prevails in potato structure, reaching X tons, which was approx. X% of total exports in 2023. It was distantly followed by Cote d'Ivoire (X tons) and Togo (X tons), together mixing up a X% share of total exports. Ghana (X tons) and Senegal (X tons) held a minor share of total exports.

Nigeria was also the fastest-growing in terms of the starch other than wheat, corn or potato exports, with a CAGR of X% from 2012 to 2023. At the same time, Ghana (X%), Togo (X%) and Senegal (X%) displayed positive paces of growth. By contrast, Cote d'Ivoire (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Nigeria, Togo and Ghana increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) emerged as the largest starch other than wheat, corn or potato supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total exports. It was followed by Togo, with a X% share.

In Nigeria, exports of starch other than wheat, corn or potato expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Togo (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the export price recorded a abrupt downturn. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2023, 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 Senegal ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced a decline in the export price figures.

Imports of Starch other than Wheat, Corn or Potato

Imports in ECOWAS

In 2023, the amount of starch other than wheat, corn or potato imported in ECOWAS surged to X tons, growing by X% compared with the previous year's figure. Over the period under review, imports enjoyed a pronounced increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of import peaked at X tons in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.

In value terms, imports of starch other than wheat, corn or potato reduced slightly to $X in 2023. Overall, imports posted noticeable growth. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, imports of hit record highs at $X in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Senegal (X tons), Burkina Faso (X tons) and Ghana (X tons) represented roughly X% of total imports in 2023. Nigeria (X tons) held a relatively small share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Burkina Faso (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X) constitutes the largest market for imported starch other than wheat, corn or potato in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with an X% share of total imports. It was followed by Burkina Faso, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Senegal was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Burkina Faso (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2023, declining by X% against the previous year. Overall, the import price saw a perceptible descent. The most prominent rate of growth was recorded in 2020 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2021 to 2023, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: 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 2023, 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