Western Africa: Paddy Rice Market 2024

Paddy Rice Market Size in Western Africa

The West African paddy rice market totaled $X in 2023, almost unchanged from the previous year. The total consumption indicated a noticeable expansion 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, consumption decreased by X% against 2021 indices. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2023, consumption stood at a somewhat lower figure.

Paddy Rice Production in Western Africa

In value terms, paddy rice production amounted to $X in 2023 estimated in export price. The total production indicated a notable expansion 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, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2015 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

The country with the largest volume of paddy rice production was Nigeria (X tons), comprising approx. X% of total volume. Moreover, paddy rice production in Nigeria exceeded the figures recorded by the second-largest producer, Mali (X tons), threefold. Guinea (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2023, the average annual growth rate of volume in Nigeria stood at X%. In the other countries, the average annual rates were as follows: Mali (X% per year) and Guinea (X% per year).

The average paddy rice yield totaled X tons per ha in 2023, standing approx. at 2022. Overall, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the yield increased by X%. The level of yield peaked at X tons per ha in 2018; however, from 2019 to 2023, the yield stood at a somewhat 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, the total area harvested in terms of paddy rice production in Western Africa was estimated at X ha, stabilizing at 2022 figures. The harvested area increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to paddy rice production reached the peak figure at X ha in 2021; however, from 2022 to 2023, the harvested area failed to regain momentum.

Paddy Rice Exports

Exports in Western Africa

In 2023, paddy rice exports in Western Africa surged to X tons, growing by X% compared with 2022 figures. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, the exports attained the peak of X tons. From 2019 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, paddy rice exports surged to $X in 2023. Over the period under review, exports showed a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, the exports attained the peak of $X. From 2019 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Togo was the largest exporter of paddy rice in Western Africa, with the volume of exports recording X tons, which was approx. X% of total exports in 2023. It was distantly followed by Ghana (X tons), Burkina Faso (X tons), Senegal (X tons) and Benin (X tons), together comprising a X% share of total exports. Nigeria (X tons) held a relatively small share of total exports.

From 2012 to 2023, average annual rates of growth with regard to paddy rice exports from Togo stood at X%. At the same time, Nigeria (X%), Ghana (X%), Benin (X%), Burkina Faso (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Ghana, Togo, Burkina Faso, Benin and Nigeria increased by X, X, X, X and X percentage points, respectively.

In value terms, the largest paddy rice supplying countries in Western Africa were Burkina Faso ($X), Senegal ($X) and Togo ($X), with a combined X% share of total exports. Ghana, Nigeria and Benin lagged somewhat behind, together accounting for a further X%.

Nigeria, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among 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 Western Africa amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price recorded a deep setback. The pace of growth appeared the most rapid in 2015 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2023, the export prices remained at a lower figure.

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 Senegal ($X per ton), while Togo ($X per ton) was amongst the lowest.

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

Paddy Rice Imports

Imports in Western Africa

Paddy rice imports contracted to X tons in 2023, waning by X% compared with 2022. In general, imports recorded a abrupt downturn. The pace of growth was the most pronounced in 2022 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2023, imports remained at a lower figure.

In value terms, paddy rice imports totaled $X in 2023. Over the period under review, imports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 when imports increased by X%. The level of import peaked at $X in 2013; however, from 2014 to 2023, imports failed to regain momentum.

Imports by Country

Burkina Faso (X tons) and Benin (X tons) were the key importers of paddy rice in 2023, recording near X% and X% of total imports, respectively. It was distantly followed by Guinea (X tons), Cote d'Ivoire (X tons) and Nigeria (X tons), together creating a X% share of total imports. Guinea-Bissau (X tons) and Gambia (X tons) held a little share of total imports.

From 2012 to 2023, the biggest increases were recorded for Guinea-Bissau (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Burkina Faso ($X), Guinea ($X) and Nigeria ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Guinea-Bissau, Benin, Cote d'Ivoire and Gambia lagged somewhat behind, together comprising a further X%.

Guinea-Bissau, with a CAGR of X%, saw 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 mixed trends in the imports figures.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2023, picking up by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2018 to 2023, 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 Guinea ($X per ton), while Benin ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform