Ghana: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in Ghana

The Ghanian butter and dairy spreads market declined to $X in 2022, reducing by -12.5% against the previous year. In general, consumption, however, posted a prominent expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Butter And Dairy Spreads in Ghana

In value terms, butter and dairy spreads production stood at $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume decreased by 99.9%. Butter and dairy spreads production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Exports of Butter And Dairy Spreads

Exports from Ghana

In 2022, shipments abroad of butter and dairy spreads decreased by -2.5% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports recorded a noticeable setback. The growth pace was the most rapid in 2015 with an increase of 979%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, butter and dairy spreads exports rose notably to $X in 2022. Overall, exports recorded a perceptible decline. The pace of growth appeared the most rapid in 2015 with an increase of 705%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Togo (X tons), Spain (X tons) and the United States (X tons) were the main destinations of butter and dairy spreads exports from Ghana, with a combined 65% share of total exports. Saudi Arabia, Niger, Burkina Faso, India and France lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +26.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for butter and dairy spreads exported from Ghana were Spain ($X), Saudi Arabia ($X) and the United States ($X), together accounting for 71% of total exports. Togo, Niger, India, Burkina Faso and France lagged somewhat behind, together accounting for a further 16%.

In terms of the main countries of destination, Togo, with a CAGR of +24.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average butter and dairy spreads export price stood at $X per ton in 2022, with an increase of 13% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 59%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+32.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Butter And Dairy Spreads

Imports into Ghana

In 2022, the amount of butter and dairy spreads imported into Ghana declined to X tons, waning by -12.4% on 2021 figures. Over the period under review, imports, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2019 with an increase of 111% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, butter and dairy spreads imports contracted to $X in 2022. In general, imports, however, recorded prominent growth. The pace of growth appeared the most rapid in 2019 when imports increased by 125%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

France (X tons), New Zealand (X tons) and Denmark (X tons) were the main suppliers of butter and dairy spreads imports to Ghana, with a combined 42% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +28.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest butter and dairy spreads suppliers to Ghana were France ($X), Denmark ($X) and New Zealand ($X), together comprising 41% of total imports. Ireland, Belgium, the Netherlands and Ukraine lagged somewhat behind, together accounting for a further 14%.

The Netherlands, with a CAGR of +30.0%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average butter and dairy spreads import price amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 45%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+23.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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