ECOWAS: Cream Fresh Market 2024

Cream Fresh Market Size in ECOWAS

The ECOWAS cream fresh market expanded rapidly to $X in 2023, increasing by X% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Cream Fresh Production in ECOWAS

In value terms, cream fresh production fell sharply to $X in 2023 estimated in export price. In general, production, however, enjoyed tangible growth. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. As a result, production attained the peak level of $X, and then contracted rapidly in the following year.

Ghana (X tons) remains the largest cream fresh producing country in ECOWAS, accounting for X% of total volume. Moreover, cream fresh production in Ghana exceeded the figures recorded by the second-largest producer, Nigeria (X tons), fourfold.

From 2012 to 2023, the average annual rate of growth in terms of volume in Ghana amounted to X%. The remaining producing countries recorded the following average annual rates of production growth: Nigeria (X% per year) and Burkina Faso (X% per year).

Cream Fresh Exports

Exports in ECOWAS

In 2023, the amount of cream fresh exported in ECOWAS soared to X tons, increasing by X% against 2022 figures. Over the period under review, exports saw measured growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2023, the growth of the exports failed to regain momentum.

In value terms, cream fresh exports rose markedly to $X in 2023. In general, exports, however, saw a noticeable reduction. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Nigeria represented the key exporter of cream fresh in ECOWAS, with the volume of exports recording X tons, which was near X% of total exports in 2023. Ghana (X tons) held the second position in the ranking, followed by Senegal (X tons). All these countries together took near X% share of total exports.

Nigeria was also the fastest-growing in terms of the cream fresh exports, with a CAGR of X% from 2012 to 2023. At the same time, Ghana (X%) displayed positive paces of growth. By contrast, Senegal (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Senegal (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X), Senegal ($X) and Ghana ($X) constituted the countries with the highest levels of exports in 2023, together comprising X% of total exports.

Ghana, with a CAGR of X%, recorded 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 mixed trends in the exports figures.

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2013 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2023, the export prices failed to regain momentum.

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

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

Cream Fresh Imports

Imports in ECOWAS

Cream fresh imports rose sharply to X tons in 2023, growing by X% compared with 2022. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, cream fresh imports surged to $X in 2023. Overall, imports showed a mild expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

Imports by Country

Ghana (X tons), Cote d'Ivoire (X tons), Senegal (X tons) and Cabo Verde (X tons) represented roughly X% of total imports in 2023. Mali (X tons) ranks next in terms of the total imports with an X% share, followed by Togo (X%) and Benin (X%).

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

In value terms, Senegal ($X), Cote d'Ivoire ($X) and Ghana ($X) constituted the countries with the highest levels of imports in 2023, together comprising X% of total imports. Cabo Verde, Mali, Benin and Togo lagged somewhat behind, together comprising a further X%.

Togo, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of 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

In 2023, the import price in ECOWAS amounted to $X per ton, surging by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2019 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per ton in 2020; however, from 2021 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, 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 Togo (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform