ECOWAS: Potato Market 2024

Potato Market Size in ECOWAS

In 2023, the ECOWAS potato market decreased by X% to $X for the first time since 2011, thus ending a eleven-year rising trend. Over the period under review, consumption, however, recorded a buoyant increase. The level of consumption peaked at $X in 2022, and then contracted in the following year.

Potato Production in ECOWAS

In value terms, potato production declined to $X in 2023 estimated in export price. In general, production, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2013 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2022, and then fell in the following year.

Nigeria (X tons) constituted the country with the largest volume of potato production, accounting for X% of total volume. Moreover, potato production in Nigeria exceeded the figures recorded by the second-largest producer, Guinea (X tons), threefold. The third position in this ranking was taken by Niger (X tons), with a X% share.

In Nigeria, potato production expanded at an average annual rate of X% over the period from 2012-2023. The remaining producing countries recorded the following average annual rates of production growth: Guinea (X% per year) and Niger (X% per year).

In 2023, the average potato yield in ECOWAS shrank slightly to X tons per ha, dropping by X% on 2022 figures. The yield figure increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the yield increased by X%. Over the period under review, the potato yield hit record highs at X tons per ha in 2022, and then contracted in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, the harvested area of potatoes in ECOWAS fell slightly to X ha, remaining stable against the previous year. The harvested area increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of harvested area peaked at X ha in 2022, and then declined modestly in the following year.

Potato Exports

Exports in ECOWAS

After three years of growth, shipments abroad of potatoes decreased by X% to X tons in 2023. Overall, exports, however, continue to indicate a moderate expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2022, and then shrank sharply in the following year.

In value terms, potato exports contracted markedly to $X in 2023. In general, exports, however, showed a slight increase. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire (X tons) and Niger (X tons) dominates exports structure, together mixing up X% of total exports. It was distantly followed by Mali (X tons), committing a X% share of total exports. Benin (X tons) and Burkina Faso (X tons) took a relatively small share of total exports.

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

In value terms, Cote d'Ivoire ($X) emerged as the largest potato supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Niger ($X), with a X% share of total exports. It was followed by Mali, with a X% share.

In Cote d'Ivoire, potato exports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Niger (X% per year) and Mali (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, growing by X% against the previous year. Over the period under review, the export price, however, recorded a slight curtailment. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2016; however, from 2017 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 Benin ($X per ton), while Niger ($X per ton) was amongst the lowest.

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

Potato Imports

Imports in ECOWAS

In 2023, overseas purchases of potatoes decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 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, potato imports stood at $X in 2023. Total imports indicated a noticeable increase 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, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, imports reached the maximum in 2023 and are expected to retain growth in the near future.

Imports by Country

Cote d'Ivoire represented the major importer of potatoes in ECOWAS, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2023. Senegal (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Mali (X%), Burkina Faso (X%) and Nigeria (X%). Cabo Verde (X tons) and Gambia (X tons) followed a long way behind the leaders.

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

In value terms, the largest potato importing markets in ECOWAS were Senegal ($X), Cote d'Ivoire ($X) and Nigeria ($X), together accounting for X% of total imports.

Nigeria, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among 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

The import price in ECOWAS stood at $X per ton in 2023, with an increase of 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 2017 an increase of X%. The level of import peaked in 2023 and is likely to see steady growth in years to come.

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 Senegal (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform