Ghana: Fertilizer Market 2024

Fertilizer Market Size in Ghana

The Ghanian fertilizer market expanded notably to $X in 2022, picking up by X% against the previous year. Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Fertilizer Production in Ghana

In value terms, fertilizer production expanded sharply to $X in 2022 estimated in export price. Overall, production saw a pronounced increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Fertilizer Exports

Exports from Ghana

In 2022, shipments abroad of fertilizers decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then shrank in the following year.

In value terms, fertilizer exports shrank dramatically to $X in 2022. Overall, exports recorded a abrupt slump. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Burkina Faso (X tons) was the main destination for fertilizer exports from Ghana, with a X% share of total exports. Moreover, fertilizer exports to Burkina Faso exceeded the volume sent to the second major destination, Togo (X tons), tenfold. The third position in this ranking was held by Mauritania (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Burkina Faso amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (X% per year) and Mauritania (X% per year).

In value terms, Burkina Faso ($X) remains the key foreign market for fertilizers exports from Ghana, comprising X% of total exports. The second position in the ranking was held by Liberia ($X), with a X% share of total exports. It was followed by Mauritania, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Burkina Faso was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Liberia (X% per year) and Mauritania (X% per year).

Export Prices by Country

The average fertilizer export price stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2017 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Liberia ($X per ton), while the average price for exports to Burkina Faso ($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 Cote d'Ivoire (X%), while the prices for the other major destinations experienced a decline.

Fertilizer Imports

Imports into Ghana

Fertilizer imports into Ghana skyrocketed to X tons in 2022, increasing by X% on 2021. In general, imports showed a perceptible increase. The pace of growth was the most pronounced in 2015 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, fertilizer imports skyrocketed to $X in 2022. Over the period under review, imports, however, recorded a mild shrinkage. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Morocco (X tons), Belgium (X tons) and Turkey (X tons) were the main suppliers of fertilizer imports to Ghana, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Morocco ($X) constituted the largest supplier of fertilizers to Ghana, comprising X% of total imports. The second position in the ranking was held by Belgium ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Morocco amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Turkey (X% per year).

Import Prices by Country

The average fertilizer import price stood at $X per ton in 2022, reducing by X% against the previous year. In general, the import price showed a pronounced decline. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 South Africa ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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