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ECOWAS - Millet - Market Analysis, Forecast, Size, Trends and Insights
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View PricingECOWAS: Millet Market 2024
Millet Market Size in ECOWAS
The ECOWAS millet market stood at $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; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.
Millet Production in ECOWAS
In value terms, millet production expanded significantly to $X in 2022 estimated in export price. The total production indicated a moderate expansion from 2012 to 2022: its value 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. Based on 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.
The countries with the highest volumes of production in 2022 were Niger (X tons), Nigeria (X tons) and Mali (X tons), together accounting for X% of total production. Senegal, Burkina Faso, Ghana and Guinea lagged somewhat behind, together comprising a further X%.
From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.
In 2022, the average yield of millet in ECOWAS rose significantly to X kg per ha, increasing by X% compared with the year before. Over the period under review, the yield, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, the millet yield attained the peak level at X kg per ha in 2018; however, from 2019 to 2022, 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.
The millet harvested area expanded modestly to X ha in 2022, with an increase of X% compared with the previous year. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The level of harvested area peaked at X ha in 2018; however, from 2019 to 2022, the harvested area failed to regain momentum.
Millet Exports
Exports in ECOWAS
In 2022, shipments abroad of millet decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, exports, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2013 when exports increased by X%. The volume of export peaked at X tons in 2021, and then contracted sharply in the following year.
In value terms, millet exports shrank remarkably to $X in 2022. Overall, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. The level of export peaked at $X in 2021, and then reduced rapidly in the following year.
Exports by Country
In 2022, Niger (X tons) represented the largest exporter of millet, comprising X% of total exports. Nigeria (X tons) ranks second in terms of the total exports with a X% share, followed by Burkina Faso (X%) and Mali (X%). Togo (X tons) took a minor share of total exports.
Niger was also the fastest-growing in terms of the millet exports, with a CAGR of X% from 2012 to 2022. At the same time, Mali (X%), Burkina Faso (X%) and Nigeria (X%) displayed positive paces of growth. By contrast, Togo (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Niger, Mali and Togo increased by X, X and X percentage points, respectively.
In value terms, Niger ($X) emerged as the largest millet supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Mali ($X), with a X% share of total exports. It was followed by Burkina Faso, with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of value in Niger amounted to X%. In the other countries, the average annual rates were as follows: Mali (X% per year) and Burkina Faso (X% per year).
Export Prices by Country
In 2022, the export price in ECOWAS amounted to $X per ton, picking up by X% against the previous year. In general, the export price showed a perceptible increase. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mali ($X per ton), while Nigeria ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (X%), while the other leaders experienced more modest paces of growth.
Millet Imports
Imports in ECOWAS
In 2022, purchases abroad of millet decreased by X% to X tons, falling for the fourth year in a row after two years of growth. In general, imports saw a sharp downturn. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.
In value terms, millet imports contracted dramatically to $X in 2022. Over the period under review, imports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.
Imports by Country
Ghana represented the key importer of millet in ECOWAS, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. It was distantly followed by Benin (X tons), Cote d'Ivoire (X tons) and Niger (X tons), together creating a X% share of total imports. Burkina Faso (X tons) followed a long way behind the leaders.
From 2012 to 2022, average annual rates of growth with regard to millet imports into Ghana stood at X%. At the same time, Benin (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Burkina Faso (X%) and Niger (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.), Benin (X p.p.) and Cote d'Ivoire (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Niger (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Ghana ($X) constitutes the largest market for imported millet in ECOWAS, 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 Benin, with a X% share.
In Ghana, millet imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Benin (X% per year).
Import Prices by Country
The import price in ECOWAS stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the import price, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($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 Burkina Faso (X%), while the other leaders experienced a decline in the import price figures.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the millet market in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 79 - Millet
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in ECOWAS, split by region and country
- Trade (exports and imports) in ECOWAS
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
- HARVESTED AREA AND YIELD BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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