Beef and buffalo meat market in ECOWAS

Earlier Report Observations

The beef and buffalo meat market in ECOWAS expanded from 819.7 thousand tons in 2018 to 884.0 thousand tons in 2019, then contracted slightly to 867.6 thousand tons in 2020 before stabilizing around 870.7 thousand tons in 2021.

From 2021 onward, the market entered a phase of sustained growth. In 2022, volume jumped to 917.0 thousand tons, supported by robust international demand for beef and a significant rise in imports into the region, which reached 38 thousand tons that year amid tight global supply and higher production costs. By 2023, the market reached 931.3 thousand tons, as easing global pressures from returning major exporters like Australia and Argentina helped meet steady demand from emerging economies.

Looking ahead to 2024, the global beef market continues to relax with record exports from Brazil and Australia, while structural demand from the Middle East, North Africa, and Asia remains strong, influencing trade dynamics relevant to the ECOWAS region.

Production beef and buffalo meat in ECOWAS

In kind, 2017-2020, K t

Top producers of beef and buffalo meat, 2017-2020

World map of production of beef and buffalo meat, 2017-2020

Beef and buffalo meat production in ECOWAS declined after two years of growth. In 2019, production reached its peak at 868.1 thousand tonnes, but by 2020 it had fallen to 847.2 thousand tonnes, marking a slight decrease of 2.4% from the previous year. Over the period from 2017 to 2020, overall production increased by 7.6%, with an average annual growth rate of 2.5%. The most significant year-on-year increase occurred in 2019, when production rose by 7.4%.

Annual dynamics of production in ECOWAS in kind, 2017-2020, K t

Exports beef and buffalo meat from ECOWAS

Exports in kind, t

Market performance showed noticeable fluctuations during this period. Beef and buffalo meat exports from ECOWAS reached their lowest point in 2020 at 95 tonnes, representing a sharp decline of 81.3% compared to 2019. In contrast, exports peaked in 2018 at 647 tonnes, which was a 68.6% increase from the previous year. Overall, export levels varied significantly, with a 6.8-fold difference between the high in 2018 and the low in 2020.

Annual dynamics of product's exports from ECOWAS in kind, 2017-2020, t

From 2017 to 2020, the main destinations for beef and buffalo meat exports from ECOWAS were Bunkers, Vietnam, and Myanmar. Together, these three markets accounted for 64.8% of total exports in kind. Specifically, Bunkers represented 49.7% of exports, Vietnam accounted for 11.7%, and Myanmar made up 3.4%.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from ECOWAS in kind, 2017-2020

Exports in value, K $ US

ECOWAS experienced a second consecutive year of decline in beef and buffalo meat exports in value terms. In 2020, exports totaled 466 thousand US dollars, reflecting an abrupt drop of 58.0% compared to the previous year. The highest value was recorded in 2018 at 1 349 thousand US dollars, which marked a 14.0% increase from 2017. Over the entire period from 2017 to 2020, exports decreased by 60.6%, equivalent to an annualized decline of 26.7%.

Annual dynamics of product's exports from ECOWAS in value, 2017-2020, K $ US

Between 2017 and 2020, exports of beef and buffalo meat from ECOWAS in value terms were not heavily concentrated. The top three markets—Bunkers, Vietnam, and Spain—together captured only 43.2% of total flows. Bunkers accounted for 37.5% of exports in value terms, Vietnam represented 4.7%, and Spain made up 1.1%.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from ECOWAS in value, 2017-2020

Imports beef and buffalo meat to ECOWAS

Imports in kind, t

Foreign supplies of beef and buffalo meat to ECOWAS increased for the third consecutive year. In 2020, imports reached 20 541 tonnes, which is 25.1% higher than in 2019. Over the period from 2017 to 2020, imports grew by 99.1%, translating to an average annual increase of 25.8%.

Annual dynamics of product's imports to ECOWAS in kind, 2017-2020, t

Throughout 2017 to 2020, India, the Netherlands, and Belgium formed the core group of markets for beef and buffalo meat imports in kind to ECOWAS. Together, these three countries represented 51.9% of total import flows. India accounted for 26.4% of imports, the Netherlands for 16.0%, and Belgium for 9.5%.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to ECOWAS in kind, 2017-2020

Imports in value, K $ US

Cross-border shipments of beef and buffalo meat to ECOWAS increased for the third year in a row. In 2020, imports totaled 32 176 thousand US dollars, which is 21.9% more than the previous year. From 2017 to 2020, imports rose by 62.9%, with an annualized growth rate of 17.7%.

Annual dynamics of product's imports to ECOWAS in value, 2017-2020, K $ US

From 2017 to 2020, India, the Netherlands, and Brazil played the leading roles in beef and buffalo meat imports to ECOWAS in value terms. These three markets jointly accounted for 52.4% of total import flows. India represented 25.6% of imports, the Netherlands 15.6%, and Brazil 11.2%.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to ECOWAS in value, 2017-2020