Not roasted and not cooked groundnuts market in ECOWAS

Earlier Report Observations

The market for not roasted and not cooked groundnuts in ECOWAS expanded from 9.3 million tonnes in 2018 to 10.0 million tonnes in 2023, with periodic fluctuations largely dictated by climatic conditions and export dynamics. Unfavorable weather, including irregular rainfall, repeatedly impacted harvests, while the region's heavy dependence on Chinese demand led to volatile export volumes that directly shaped domestic availability.

Record exports to China in 2019, absorbing over 97% of Senegalese shipments, reduced local supply and contributed to a market contraction. The COVID-19 pandemic in 2020 then lowered international demand, which increased domestic market volume as fewer peanuts were sold abroad. Production dipped in 2021 due to poor harvests linked to climate factors, but growth resumed from 2022, supported by new peanut oil processing capacity in India and innovative extraction techniques that raised global demand for raw nuts. Soaring peanut prices in China, caused by a domestic shortfall, further incentivized West African production in 2023.

Throughout the period, the rising regional consumption of peanut oil, driven by health awareness and new refined product launches by private players, gradually diverted more raw groundnuts toward local processing and away from export, reinforcing market growth.

Production not roasted and not cooked groundnuts in ECOWAS

In kind, 2017-2020, K t

Top producers of not roasted and not cooked groundnuts, 2017-2020

World map of production of not roasted and not cooked groundnuts, 2017-2020

In 2020, ECOWAS produced 9,770 K t of not roasted and not cooked groundnuts, marking a 7.6% increase from the previous year. Between 2017 and 2020, production grew by 12.1%, averaging an annualized rate of 3.9%. The largest decline occurred in 2019 at 3.8%, while the largest increase was in 2018 at 8.2%.

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

In value, 2017-2020, M $ US

Following a two-year decline, ECOWAS's production of not roasted and not cooked groundnuts rebounded. In 2020, the output was valued at 7,270 M $ US, showing a significant gain of 36.2% from the previous year. The lowest value was recorded in 2019 at 5,339 M $ US, and the largest decline was in 2018 at 14.9%.

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

Exports not roasted and not cooked groundnuts from ECOWAS

Exports in kind, K t

The market displayed volatility during the observed period. The lowest export volume was in 2018 at 114.1 K t, while the highest was in 2019 at 329.9 K t, representing a peak-to-trough ratio of 2.9 times. In 2020, ECOWAS's exports totaled 269.1 K t, reflecting a solid reduction of 18.4% compared to 2019. The largest increase was recorded in 2019 at 189.3%.

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

From 2017 to 2020, China consistently led in exports in kind of not roasted and not cooked groundnuts from ECOWAS, accounting for 88.3% of total flows.

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

The market showed an unstable trend throughout the timeframe. The lowest export value was in 2018 at 73.7 M $ US, while the peak was in 2020 at 200.2 M $ US, with a gap of 2.7 times between these years. In 2020, exports tallied 200.2 M $ US, reflecting a modest advance of 3.2% from 2019. The largest decline was in 2018 at 22.3%, and the largest increase was in 2019 at 163.1%.

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

From 2017 to 2020, China dominated exports in value terms of not roasted and not cooked groundnuts from ECOWAS, holding a share of 93.9% of total flows.

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

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

Imports not roasted and not cooked groundnuts to ECOWAS

Imports in kind, K t

ECOWAS's imports of not roasted and not cooked groundnuts increased for the third consecutive year. In 2020, imports reached 1.0 K t, representing a sharp gain of 29.3% compared to 2019. Between 2017 and 2020, imports surged by 232.7%, equating to an annualized rate of 49.3%.

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

From 2017 to 2020, Chad played the leading role in imports in kind of not roasted and not cooked groundnuts to ECOWAS, with a share of 0.6% of total 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

Foreign supplies of not roasted and not cooked groundnuts to ECOWAS increased for the third consecutive year. In 2020, imports were recorded at 1.5 M $ US, which is 10.9% higher than in 2019. Between 2017 and 2020, imports grew by 215%, averaging an annualized rate of 46.6%.

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

Throughout 2017–2020, Chad (8.8% of imports in value terms), Thailand (1.0%), and France (0.6%) remained the main markets for imports in value terms of not roasted and not cooked groundnuts to ECOWAS, jointly accounting for 10.4% of total flows.

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

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