Ghana: Market for Dried Or Salted Fish 2024

Market Size for Dried Or Salted Fish in Ghana

The Ghanian dried or salted fish market fell to $X in 2021, reducing by -14.9% against the previous year. Over the period under review, the total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +25.4% against 2019 indices. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Production of Dried Or Salted Fish in Ghana

In value terms, dried or salted fish production declined notably to $X in 2021 estimated in export price. Overall, production saw resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 95% against the previous year. As a result, production reached the peak level of $X, and then contracted notably in the following year.

Exports of Dried Or Salted Fish

Exports from Ghana

In 2021, the amount of dried or salted fish exported from Ghana soared to X tons, picking up by 16% compared with the previous year's figure. In general, exports saw significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 341% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, dried or salted fish exports skyrocketed to $X in 2021. Overall, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 407% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in years to come.

Exports by Country

Hong Kong SAR (X tons), the United States (X tons) and Canada (X tons) were the main destinations of dried or salted fish exports from Ghana, with a combined 89% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +48.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), the United States ($X) and Canada ($X) were the largest markets for dried or salted fish exported from Ghana worldwide, together accounting for 95% of total exports.

Among the main countries of destination, the United States, with a CAGR of +93.3%, recorded 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 dried or salted fish export price stood at $X per ton in 2021, surging by 36% against the previous year. Over the period under review, the export price enjoyed resilient growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Canada ($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 the United States (+30.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Dried Or Salted Fish

Imports into Ghana

In 2021, approx. X tons of dried or salted fish were imported into Ghana; jumping by 26% on 2020 figures. Overall, imports enjoyed a modest expansion. The most prominent rate of growth was recorded in 2014 with an increase of 105% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, dried or salted fish imports totaled $X in 2021. In general, imports, however, saw a deep contraction. The growth pace was the most rapid in 2014 with an increase of 78% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Senegal (X tons) constituted the largest dried or salted fish supplier to Ghana, accounting for a 70% share of total imports. Moreover, dried or salted fish imports from Senegal exceeded the figures recorded by the second-largest supplier, Mauritania (X tons), threefold. The third position in this ranking was taken by Gambia (X tons), with a 1.5% share.

From 2012 to 2021, the average annual growth rate of volume from Senegal stood at +33.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Mauritania (-1.4% per year) and Gambia (+15.7% per year).

In value terms, Senegal ($X) constituted the largest supplier of dried or salted fish to Ghana, comprising 80% of total imports. The second position in the ranking was held by Mauritania ($X), with a 14% share of total imports. It was followed by Gambia, with a 0.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Senegal totaled +16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Mauritania (-18.6% per year) and Gambia (-6.8% per year).

Import Prices by Country

The average dried or salted fish import price stood at $X per ton in 2021, falling by -10.9% against the previous year. Overall, the import price saw a abrupt decrease. The most prominent rate of growth was recorded in 2019 an increase of 17%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Senegal ($X per ton), while the price for Gambia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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