Ghana: Market for Crispbread, Rusks and Toasted Bread 2024

Market Size for Crispbread, Rusks and Toasted Bread in Ghana

The Ghanian market for crispbread, rusks and toasted bread expanded rapidly to $X in 2022, increasing by 7.1% against the previous year. Overall, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.2% against 2020 indices. 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.

Production of Crispbread, Rusks and Toasted Bread in Ghana

In value terms, crispbread, rusk and toasted bread production rose remarkably to $X in 2022 estimated in export price. Overall, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.0% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 61% against the previous year. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Crispbread, Rusks and Toasted Bread

Exports from Ghana

After four years of growth, shipments abroad of crispbread, rusks and toasted bread decreased by -12% to X tons in 2022. Overall, exports, however, recorded a prominent expansion. The pace of growth was the most pronounced in 2018 with an increase of 2,996%. Over the period under review, the exports attained the maximum at X tons in 2021, and then reduced in the following year.

In value terms, crispbread, rusk and toasted bread exports declined to $X in 2022. In general, exports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 3,384% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then declined in the following year.

Exports by Country

Niger (X tons) and Togo (X tons) were the main destinations of crispbread, rusk and toasted bread exports from Ghana.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +32.8%).

In value terms, Niger ($X) remains the key foreign market for crispbread, rusks and toasted bread exports from Ghana, comprising 76% of total exports. The second position in the ranking was taken by Togo ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Niger totaled +11.1%.

Export Prices by Country

In 2022, the average export price for crispbread, rusks and toasted bread amounted to $X per ton, with an increase of 2.4% against the previous year. Overall, the export price, however, saw a pronounced reduction. The most prominent rate of growth was recorded in 2015 when the average export price increased by 197% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Togo (-6.3%).

Imports of Crispbread, Rusks and Toasted Bread

Imports into Ghana

In 2022, the amount of crispbread, rusks and toasted bread imported into Ghana rose notably to X tons, picking up by 5.8% compared with the previous year. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 119%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, crispbread, rusk and toasted bread imports expanded to $X in 2022. Overall, imports, however, recorded a mild slump. The most prominent rate of growth was recorded in 2017 when imports increased by 120% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Thailand (X tons) constituted the largest supplier of crispbread, rusk and toasted bread to Ghana, accounting for a 49% share of total imports. Moreover, crispbread, rusk and toasted bread imports from Thailand exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), eightfold. Indonesia (X tons) ranked third in terms of total imports with a 3.8% share.

From 2012 to 2022, the average annual growth rate of volume from Thailand amounted to -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+14.8% per year) and Indonesia (+8.9% per year).

In value terms, Thailand ($X) constituted the largest supplier of crispbread, rusks and toasted bread to Ghana, comprising 48% of total imports. The second position in the ranking was held by Malaysia ($X), with a 7.3% share of total imports. It was followed by Egypt, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Thailand totaled -5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+15.0% per year) and Egypt (+0.5% per year).

Import Prices by Country

In 2022, the average import price for crispbread, rusks and toasted bread amounted to $X per ton, which is down by -2.3% against the previous year. In general, the import price showed a slight setback. The pace of growth was the most pronounced in 2019 an increase of 47%. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, 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 Egypt ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :