ECOWAS: Market for Straw Or Fodder Balers, Including Pickup Balers 2024

Market Size for Straw Or Fodder Balers, Including Pickup Balers in ECOWAS

In 2023, after two years of growth, there was significant decline in the ECOWAS straw for fodder balers market, when its value decreased by X% to $X. Overall, consumption recorded slight growth. The level of consumption peaked at $X in 2017; however, from 2018 to 2023, consumption remained at a lower figure.

Production of Straw Or Fodder Balers, Including Pickup Balers in ECOWAS

In value terms, straw for fodder balers production expanded markedly to $X in 2023 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2023, production growth remained at a somewhat lower figure.

Exports of Straw Or Fodder Balers, Including Pickup Balers

Exports in ECOWAS

Straw for fodder balers exports soared to X units in 2023, growing by X% on the previous year. Overall, exports saw a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, straw for fodder balers exports surged to $X in 2023. Over the period under review, exports saw resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Niger represented the main exporting country with an export of about X units, which finished at X% of total exports. It was distantly followed by Ghana (X units), constituting a X% share of total exports.

From 2013 to 2023, the biggest increases were recorded for Niger (with a CAGR of X%).

In value terms, Niger ($X) emerged as the largest straw for fodder balers supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports.

In Niger, straw for fodder balers exports expanded at an average annual rate of X% over the period from 2013-2023.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2023, surging by X% against the previous year. Export price indicated a buoyant increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, straw for fodder balers export price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2013 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2014 to 2023, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Niger ($X per unit), while Ghana totaled $X per unit.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Niger (X%).

Imports of Straw Or Fodder Balers, Including Pickup Balers

Imports in ECOWAS

Straw for fodder balers imports expanded notably to X units in 2023, picking up by X% compared with the previous year's figure. Overall, imports, however, saw a noticeable downturn. The growth pace was the most rapid in 2020 with an increase of X%. As a result, imports attained the peak of X units. From 2021 to 2023, the growth of imports failed to regain momentum.

In value terms, straw for fodder balers imports surged to $X in 2023. Over the period under review, imports, however, showed a perceptible shrinkage. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2023, imports failed to regain momentum.

Imports by Country

Nigeria represented the largest importer of straw or fodder balers, including pickup balers in ECOWAS, with the volume of imports finishing at X units, which was near X% of total imports in 2023. Ghana (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (X%), Burkina Faso (X%), Gambia (X%) and Cote d'Ivoire (X%). Mali (X units), Cabo Verde (X units) and Guinea (X units) followed a long way behind the leaders.

Nigeria experienced a relatively flat trend pattern with regard to volume of imports of straw or fodder balers, including pickup balers. At the same time, Cabo Verde (X%), Burkina Faso (X%), Guinea (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. Cote d'Ivoire experienced a relatively flat trend pattern. By contrast, Gambia (X%), Mali (X%) and Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Nigeria, Burkina Faso, Senegal, Cote d'Ivoire, Cabo Verde and Guinea increased by X, X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported straw or fodder balers, including pickup balers in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Senegal ($X), with a X% share of total imports. It was followed by Gambia, with a X% share.

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

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2023, with an increase of X% against the previous year. Import price indicated a modest increase from 2012 to 2023: its price 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, straw for fodder balers import price increased by X% against 2020 indices. The growth pace was the most rapid in 2014 an increase of X%. Over the period under review, import prices attained the maximum at $X per unit in 2017; however, from 2018 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform