Ghana: Grain Market 2024

Grain Market Size in Ghana

The Ghanian grain market dropped remarkably to $X in 2022, which is down by X% against the previous year. In general, consumption, however, saw moderate growth. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Grain Production in Ghana

In value terms, grain production expanded to $X in 2022 estimated in export price. Overall, production, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2020; afterwards, it flattened through to 2022.

In 2022, the average yield of cereal grains in Ghana declined slightly to X tons per ha, leveling off at 2021. The yield figure increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the average grain yield reached the peak level at X tons per ha in 2021, and then reduced in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of cereal grains were harvested in Ghana; falling by X% compared with the previous year. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to grain production reached the maximum at X ha in 2021, and then reduced in the following year.

Grain Exports

Exports from Ghana

In 2022, overseas shipments of cereal grains decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, grain exports shrank markedly to $X in 2022. Overall, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then dropped notably in the following year.

Exports by Country

Togo (X tons) was the main destination for grain exports from Ghana, with a X% share of total exports. Moreover, grain exports to Togo exceeded the volume sent to the second major destination, Niger (X tons), more than tenfold. The third position in this ranking was taken by Israel (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Togo stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (X% per year) and Israel (X.7% per year).

In value terms, the largest markets for grain exported from Ghana were Togo ($X), the United States ($X) and the UK ($X), together comprising X% of total exports. Niger, Israel, Burkina Faso and Germany lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Israel, with a CAGR of X.0%, saw the highest rates of growth with regard to 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

In 2022, the average grain export price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then reduced notably in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Togo ($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 Burkina Faso (X%), while the prices for the other major destinations experienced more modest paces of growth.

Grain Imports

Imports into Ghana

In 2022, overseas purchases of cereal grains decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then shrank modestly in the following year.

In value terms, grain imports dropped to $X in 2022. In general, imports, however, showed a tangible increase. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, Canada (X tons) constituted the largest grain supplier to Ghana, accounting for a X% share of total imports. Moreover, grain imports from Canada exceeded the figures recorded by the second-largest supplier, Argentina (X tons), twofold. The third position in this ranking was held by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Canada totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (X% per year) and the United States (X% per year).

In value terms, Canada ($X) constituted the largest supplier of cereal grains to Ghana, comprising X% of total imports. The second position in the ranking was taken by Argentina ($X), with a X% share of total imports. It was followed by the United States, with an X% share.

From 2012 to 2022, the average annual growth rate of value from Canada was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (X% per year) and the United States (X% per year).

Import Prices by Country

The average grain import price stood at $X per ton in 2022, which is down by X% against the previous year. In general, the import price showed a pronounced descent. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Canada ($X per ton) and Germany ($X per ton), while the price for Latvia ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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