Ghana: Market for Coconut, Abaca, Ramie and other Vegetable Textile Fibres 2024

Market Size for Coconut, Abaca, Ramie and other Vegetable Textile Fibres in Ghana

The Ghanian market for coconut, abaca, ramie and other vegetable textile fibres soared to $X in 2022, rising by 34% against the previous year. Over the period under review, consumption saw a buoyant expansion. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Coconut, Abaca, Ramie and other Vegetable Textile Fibres in Ghana

In value terms, production of coconut, abaca, ramie and other vegetable textile fibres amounted to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume decreased by 99.9% against the previous year. Over the period under review, production of hit record highs in 2022 and is expected to retain growth in years to come.

The average yield of coconut, abaca, ramie and other vegetable textile fibres in Ghana totaled less than X kg per ha in 2022, stabilizing at the previous year. In general, the yield saw a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of coconut, abaca, ramie and other vegetable textile fibres production in Ghana amounted to less than X ha, approximately equating the year before. Overall, the harvested area continues to indicate a relatively flat trend pattern.

Exports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Exports from Ghana

In 2022, shipments abroad of coconut, abaca, ramie and other vegetable textile fibres decreased by -20.8% to X tons, falling for the second year in a row after two years of growth. Overall, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 267% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres surged to $X in 2022. Over the period under review, exports, however, continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2017 when exports increased by 263%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for exports of coconut, abaca, ramie and other vegetable textile fibres from Ghana, with a 99% share of total exports. It was followed by Slovenia (X kg), with less than 0.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands totaled +23.7%.

In value terms, the Netherlands ($X) remains the key foreign market for coconut, abaca, ramie and other vegetable textile fibres exports from Ghana, comprising 73% of total exports. The second position in the ranking was held by Slovenia ($X), with less than 0.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the Netherlands amounted to +20.9%.

Export Prices by Country

In 2022, the average export price for coconut, abaca, ramie and other vegetable textile fibres amounted to $X per ton, surging by 55% against the previous year. Over the period under review, the export price, however, showed a noticeable downturn. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovenia (+334.8%).

Imports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Imports into Ghana

In 2022, imports of coconut, abaca, ramie and other vegetable textile fibres into Ghana surged to X tons, picking up by 31% on 2021 figures. Overall, imports saw a buoyant expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 174% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres soared to $X in 2022. Over the period under review, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of 377%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Kenya (X tons) constituted the largest supplier of coconut, abaca, ramie and other vegetable textile fibre to Ghana, with a 81% share of total imports. Moreover, imports of coconut, abaca, ramie and other vegetable textile fibres from Kenya exceeded the figures recorded by the second-largest supplier, Madagascar (X tons), more than tenfold. The third position in this ranking was held by Mozambique (X tons), with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Kenya amounted to +13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Madagascar (-1.9% per year) and Mozambique (+11.4% per year).

In value terms, Kenya ($X) constituted the largest supplier of coconut, abaca, ramie and other vegetable textile fibres to Ghana, comprising 86% of total imports. The second position in the ranking was taken by Tanzania ($X), with a 1.9% share of total imports. It was followed by Madagascar, with a 1.8% share.

From 2012 to 2022, the average annual growth rate of value from Kenya amounted to +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Tanzania (-3.4% per year) and Madagascar (-5.8% per year).

Import Prices by Country

The average import price for coconut, abaca, ramie and other vegetable textile fibres stood at $X per ton in 2022, dropping by -1.9% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by 89% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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 Tanzania ($X per ton), while the price for Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+5.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform