Ghana: Market for Dried Or Smoked Fish 2024

Market Size for Dried Or Smoked Fish in Ghana

The Ghanian dried or smoked fish market was finally on the rise to reach $X in 2021, after four years of decline. In general, consumption, however, recorded a slight slump. Dried or smoked fish consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Production of Dried Or Smoked Fish in Ghana

In value terms, dried or smoked fish production soared to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 33% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Exports of Dried Or Smoked Fish

Exports from Ghana

In 2021, overseas shipments of dried or smoked fish increased by 169% to X tons, rising for the second consecutive year after three years of decline. Overall, exports recorded significant growth. The pace of growth appeared the most rapid in 2014 with an increase of 383%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, dried or smoked fish exports surged to $X in 2021. Over the period under review, exports showed strong growth. The growth pace was the most rapid in 2016 when exports increased by 223% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Hong Kong SAR (X tons) was the main destination for dried or smoked fish exports from Ghana, with a 69% share of total exports. Moreover, dried or smoked fish exports to Hong Kong SAR exceeded the volume sent to the second major destination, Canada (X tons), fourfold. The third position in this ranking was held by the United States (X tons), with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Hong Kong SAR amounted to +54.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+57.4% per year) and the United States (+5.0% per year).

In value terms, Hong Kong SAR ($X) emerged as the key foreign market for dried or smoked fish exports from Ghana, comprising 46% of total exports. The second position in the ranking was held by Canada ($X), with a 19% share of total exports. It was followed by the United States, with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Hong Kong SAR totaled +16.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+57.5% per year) and the United States (+30.9% per year).

Export Prices by Country

The average dried or smoked fish export price stood at $X per ton in 2021, with a decrease of -45.4% against the previous year. Overall, the export price saw a deep setback. The pace of growth was the most pronounced in 2015 when the average export price increased by 60%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per ton), while the average price for exports to Hong Kong SAR ($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 (+24.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Dried Or Smoked Fish

Imports into Ghana

Dried or smoked fish imports into Ghana reduced to X tons in 2021, which is down by -5.7% on 2020 figures. In general, imports recorded a perceptible descent. The pace of growth was the most pronounced in 2015 with an increase of 258%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, dried or smoked fish imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 263%. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Mauritania (X tons) constituted the largest dried or smoked fish supplier to Ghana, accounting for a 56% share of total imports. Moreover, dried or smoked fish imports from Mauritania exceeded the figures recorded by the second-largest supplier, Senegal (X tons), threefold. Burkina Faso (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Mauritania amounted to +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Senegal (-2.9% per year) and Burkina Faso (-7.1% per year).

In value terms, Mauritania ($X) constituted the largest supplier of dried or smoked fish to Ghana, comprising 28% of total imports. The second position in the ranking was held by Senegal ($X), with a 10% share of total imports. It was followed by Burkina Faso, with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Mauritania amounted to -2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Senegal (-6.2% per year) and Burkina Faso (+0.8% per year).

Import Prices by Country

The average dried or smoked fish import price stood at $X per ton in 2021, rising by 79% against the previous year. Overall, import price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Gambia ($X per ton), while the price for Burkina Faso ($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 (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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