Ghana: Coffee Extract Market 2024

Coffee Extract Market Size in Ghana

The Ghanian coffee extract market dropped rapidly to $X in 2021, waning by -35.1% against the previous year. Overall, consumption continues to indicate a abrupt decrease. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Coffee Extract Production in Ghana

In value terms, coffee extract production declined to $X in 2021 estimated in export price. Over the period under review, production saw a deep downturn. The most prominent rate of growth was recorded in 2020 when the production volume increased by 23% against the previous year. Coffee extract production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Coffee Extract Exports

Exports from Ghana

In 2021, approx. X tons of coffee extracts, essences and concentrates were exported from Ghana; increasing by 33% against 2020. Over the period under review, exports showed a remarkable increase. The growth pace was the most rapid in 2018 when exports increased by 70%. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, coffee extract exports surged to $X in 2021. Overall, exports, however, recorded a deep setback. The pace of growth appeared the most rapid in 2014 when exports increased by 48% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Gambia (X tons) was the main destination for coffee extract exports from Ghana, with a 86% share of total exports. Moreover, coffee extract exports to Gambia exceeded the volume sent to the second major destination, Nigeria (X tons), more than tenfold. The third position in this ranking was held by Angola (X tons), with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Gambia totaled +445.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (-0.9% per year) and Angola (+422.4% per year).

In value terms, Nigeria ($X), Angola ($X) and India ($X) were the largest markets for coffee extract exported from Ghana worldwide, together comprising 73% of total exports.

Among the main countries of destination, Angola, with a CAGR of +224.1%, 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

In 2021, the average coffee extract export price amounted to $X per ton, waning by -4.1% against the previous year. In general, the export price saw a dramatic decline. The pace of growth was the most pronounced in 2014 an increase of 18% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Gambia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+17.7%), while the prices for the other major destinations experienced mixed trend patterns.

Coffee Extract Imports

Imports into Ghana

In 2021, purchases abroad of coffee extracts, essences and concentrates increased by 62% to X tons, rising for the second consecutive year after three years of decline. Overall, imports saw a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2016; afterwards, it flattened through to 2021.

In value terms, coffee extract imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a pronounced downturn. The growth pace was the most rapid in 2014 when imports increased by 45% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest coffee extract supplier to Ghana, accounting for a 58% share of total imports. Moreover, coffee extract imports from India exceeded the figures recorded by the second-largest supplier, Brazil (X tons), sevenfold. The third position in this ranking was taken by Indonesia (X tons), with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India amounted to +22.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+1.6% per year) and Indonesia (+63.7% per year).

In value terms, India ($X) constituted the largest supplier of coffee extracts, essences and concentrates to Ghana, comprising 73% of total imports. The second position in the ranking was taken by Brazil ($X), with a 9% share of total imports. It was followed by Malaysia, with a 3% share.

From 2012 to 2021, the average annual growth rate of value from India stood at +21.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-1.9% per year) and Malaysia (-2.8% per year).

Import Prices by Country

The average coffee extract import price stood at $X per ton in 2021, with a decrease of -13.2% against the previous year. Over the period under review, the import price saw a pronounced curtailment. The most prominent rate of growth was recorded in 2014 an increase of 21% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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