Ghana: Dry Vegetable Market 2024

Dry Vegetable Market Size in Ghana

The Ghanian dry vegetable market soared to $X in 2022, picking up by 108% against the previous year. In general, consumption saw measured growth. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Dry Vegetable Production in Ghana

In value terms, dry vegetable production expanded significantly to $X in 2022 estimated in export price. Overall, production saw a buoyant expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 36% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Dry Vegetable Exports

Exports from Ghana

In 2022, after two years of growth, there was significant decline in shipments abroad of dry vegetables, when their volume decreased by -40.5% to X tons. Over the period under review, exports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of 454% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, dry vegetable exports shrank dramatically to $X in 2022. Overall, exports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 630%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Togo (X tons) was the main destination for dry vegetable exports from Ghana, accounting for a 50% share of total exports. Moreover, dry vegetable exports to Togo exceeded the volume sent to the second major destination, the United States (X tons), twofold. The UK (X tons) ranked third in terms of total exports with a 21% share.

From 2012 to 2022, the average annual growth rate of volume to Togo totaled +11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+21.6% per year) and the UK (+39.0% per year).

In value terms, the United States ($X) remains the key foreign market for dry vegetables exports from Ghana, comprising 59% of total exports. The second position in the ranking was taken by the UK ($X), with a 14% share of total exports. It was followed by Togo, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +48.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+45.7% per year) and Togo (+14.2% per year).

Export Prices by Country

In 2022, the average dry vegetable export price amounted to $X per ton, rising by 7.9% against the previous year. Over the period under review, the export price recorded resilient growth. The growth pace was the most rapid in 2013 an increase of 58%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+39.0%), while the prices for the other major destinations experienced more modest paces of growth.

Dry Vegetable Imports

Imports into Ghana

In 2022, the amount of dry vegetables imported into Ghana skyrocketed to X tons, growing by 21% against 2021. Overall, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 166% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, dry vegetable imports surged to $X in 2022. In general, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2020 when imports increased by 107% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Belgium (X tons) constituted the largest dry vegetable supplier to Ghana, accounting for a 36% share of total imports. Moreover, dry vegetable imports from Belgium exceeded the figures recorded by the second-largest supplier, Niger (X tons), twofold. Burkina Faso (X tons) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium totaled +36.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Niger (+41.1% per year) and Burkina Faso (-9.1% per year).

In value terms, the largest dry vegetable suppliers to Ghana were India ($X), China ($X) and Belgium ($X), together accounting for 56% of total imports. Ethiopia, Niger, the Netherlands, Togo and Burkina Faso lagged somewhat behind, together accounting for a further 21%.

In terms of the main suppliers, Niger, with a CAGR of +50.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average dry vegetable import price stood at $X per ton in 2022, increasing by 48% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 85% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 India ($X per ton), while the price for Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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