ECOWAS: Molasse Market 2024

Molasse Market Size in ECOWAS

The ECOWAS molasse market was finally on the rise to reach $X in 2023, after two years of decline. 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 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2023, consumption stood at a somewhat lower figure.

Molasse Production in ECOWAS

In value terms, molasse production shrank modestly to $X in 2023 estimated in export price. In general, production continues to indicate a pronounced increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2023, production growth failed to regain momentum.

Molasse Exports

Exports in ECOWAS

In 2023, exports of molasses in ECOWAS skyrocketed to X tons, picking up by X% on the year before. Overall, exports, however, continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 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 remained at a somewhat lower figure.

In value terms, molasse exports contracted to $X in 2023. In general, exports, however, showed a abrupt decline. The pace of growth appeared the most rapid in 2016 with an increase of X%. As a result, the exports attained the peak of $X. From 2017 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Cote d'Ivoire represented the main exporter of molasses in ECOWAS, with the volume of exports recording X tons, which was near X% of total exports in 2023. Mali (X tons) held the second position in the ranking, followed by Senegal (X tons). All these countries together held approx. X% share of total exports. Nigeria (X tons) took a little share of total exports.

Exports from Cote d'Ivoire decreased at an average annual rate of X% from 2012 to 2023. At the same time, Mali (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Nigeria (X%) and Senegal (X%) illustrated a downward trend over the same period. While the share of Mali (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Senegal (X p.p.) and Cote d'Ivoire (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest molasse supplying countries in ECOWAS were Cote d'Ivoire ($X), Senegal ($X) and Nigeria ($X), together comprising X% of total exports. Mali lagged somewhat behind, accounting for a further X%.

Mali, 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 mixed trends in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period under review, the export price recorded a mild decline. The growth pace was the most rapid in 2016 an increase of X%. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Mali ($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 export price figures.

Molasse Imports

Imports in ECOWAS

In 2023, imports of molasses in ECOWAS fell markedly to X tons, which is down by X% on 2022. Overall, imports showed a deep contraction. The pace of growth appeared the most rapid in 2022 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2023, imports failed to regain momentum.

In value terms, molasse imports declined markedly to $X in 2023. Over the period under review, imports showed a noticeable downturn. The pace of growth appeared the most rapid in 2022 when imports increased by X%. The level of import peaked at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Burkina Faso (X tons) and Guinea-Bissau (X tons) represented the largest importers of molasses in 2023, reaching near X% and X% of total imports, respectively. It was distantly followed by Cote d'Ivoire (X tons), Mali (X tons), Nigeria (X tons) and Guinea (X tons), together comprising a X% share of total imports. Cabo Verde (X tons) held a little share of total imports.

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

In value terms, Guinea ($X) constitutes the largest market for imported molasses in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Guinea-Bissau ($X), with a X% share of total imports. It was followed by Nigeria, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Guinea amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Guinea-Bissau (X% per year) and Nigeria (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2023, rising by X% against the previous year. Over the period under review, the import price recorded a pronounced increase. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2020; however, from 2021 to 2023, 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 Guinea ($X per ton), while Mali ($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