Maize market in ECOWAS

Earlier Report Observations

From 2018 to 2020, the maize market in ECOWAS expanded from 23 963 thousand tonnes to 26 501 thousand tonnes. This growth was supported by the regional implementation of the ECOWAS Agricultural Policy (ECOWAP), which structured agricultural development and production. State-owned companies and regional bodies under ECOWAS contributed to market regulation and trade facilitation. Simultaneously, trade liberalization under the ECOWAS Trade Liberalisation Scheme (ETLS) facilitated cross-border flows of maize, enhancing market access. In 2020, despite global supply chain disruptions from the COVID-19 pandemic, sustained trade facilitation initiatives helped maintain market integration.

The market continued to grow, reaching 27 991 thousand tonnes by 2022. Policy adjustments in response to pandemic-related challenges stabilized supply chains, while an increased focus on climate resilience under ECOWAS strategies encouraged sustainable production practices. Furthermore, the revision and simplification of ETLS legal texts in 2022, along with projects discussed at the Regional Trade Facilitation Committee, improved trade infrastructure and reduced barriers. State-owned enterprises and regional bodies continued to regulate trade and support market development, contributing to expansion.

In 2023, the market volume decreased to 26 932 thousand tonnes, marking a shift from the previous growth trend.

Production maize in ECOWAS

In kind, 2017-2020, K t

Top producers of maize, 2017-2020

World map of production of maize, 2017-2020

Maize production in ECOWAS has grown for the third year in a row. In 2020, the region produced 26 202 thousand tons of maize, showing a modest increase of 0.6% compared to 2019. Looking at the period from 2017 to 2020, production rose by 16.8%, which translates to an average annual growth rate of 5.3%.

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

In value, 2017-2020, M $ US

In 2020, the value of maize output in ECOWAS reached 7 937 million US dollars, up by 11.5% from 2019. Over the 2017-2020 period, production value increased by 42.2%, with an average annual growth rate of 12.5%. The most significant drop occurred in 2019, at 3.5%, while the largest increase was in 2018, at 32.1%.

Annual dynamics of production in ECOWAS in value, 2017-2020, M $ US

Exports maize from ECOWAS

Exports in kind, K t

The market exhibited volatility during the observed period. Exports hit their lowest point in 2018 at 12.7 thousand tons and peaked in 2017, with a 7.8-fold difference between these years. In 2020, ECOWAS exported 91.2 thousand tons of maize, marking a sharp rise of 259.1% compared to the previous year. The largest decline was recorded in 2018, at 87.1%.

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

From 2017 to 2020, Mauritania was the leading destination for maize exports from ECOWAS in terms of volume, accounting for 0.8% of the total.

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, M $ US

Market performance showed noticeable fluctuations over this period. Exports bottomed in 2018 at 4.0 million US dollars and peaked in 2020, with a 6.9-fold difference. In 2020, foreign maize supplies from ECOWAS amounted to 27.6 million US dollars, representing a substantial increase of 298.1% versus 2019. The largest decline was in 2018, at 83.7%.

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

Between 2017 and 2020, France was the top buyer of maize from ECOWAS in value terms, holding a share of 0.7%.

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

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

Imports maize to ECOWAS

Imports in kind, K t

Maize imports into ECOWAS declined for the third consecutive year. In 2020, the region imported a total of value_last_year thousand tons of maize, indicating a solid decrease of 10.1% compared to 2019. From 2017 to 2020, imports fell by 48.9%, equating to an annualized rate of 20.1%.

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

During 2017-2020, Argentina, the United States, and Brazil were the main sources for maize imports into ECOWAS in volume terms, with shares of 66.1%, 12.1%, and 3.5%, respectively. Together, they accounted for 81.7% of total import flows.

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, M $ US

After two years of decline, maize imports into ECOWAS increased. In 2020, the region imported a total of value_last_year million US dollars of maize, up by 64.8% compared to 2019. Over the 2017-2020 period, imports decreased by 24.8%, with an average annual decline of 9.1%. The lowest value was recorded in 2019 at 115.4 million US dollars, and the largest drop occurred in 2018, at 35.4%.

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

From 2017 to 2020, Argentina, the United States, and South Africa remained the leading sources for maize imports into ECOWAS in value terms, with shares of 63.1%, 13.8%, and 3.6%, respectively. Combined, they represented 80.4% of total import flows.

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

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