Ghana: Market for Fish Fillets and Other Fish Meat 2024

Market Size for Fish Fillets and Other Fish Meat in Ghana

In 2022, after four years of decline, there was significant growth in the Ghanian market for fish fillets and other fish meat, when its value increased by 284% to $X. Overall, consumption, however, showed a significant decline. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Fish Fillets and Other Fish Meat in Ghana

In value terms, production of fish fillets and other fish meat reached $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 22%. As a result, production reached the peak level of $X. From 2019 to 2022, production of growth remained at a lower figure.

Exports of Fish Fillets and Other Fish Meat

Exports from Ghana

After three years of growth, overseas shipments of fish fillets and other fish meat decreased by -14.2% to X tons in 2022. In general, exports, however, posted a strong expansion. The growth pace was the most rapid in 2019 with an increase of 411% against the previous year. Over the period under review, the exports of reached the maximum at X tons in 2021, and then declined in the following year.

In value terms, exports of fish fillets and other fish meat reduced sharply to $X in 2022. Over the period under review, exports, however, recorded a buoyant increase. The growth pace was the most rapid in 2019 with an increase of 330% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2021, and then dropped sharply in the following year.

Exports by Country

Spain (X tons), Portugal (X tons) and Japan (X tons) were the main destinations of exports of fish fillets and other fish meat from Ghana, together comprising 57% of total exports. These countries were followed by Italy, which accounted for a further 3.7%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +117.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fish fillets and other fish meat exported from Ghana were Spain ($X), Portugal ($X) and Japan ($X), together accounting for 56% of total exports. These countries were followed by Italy, which accounted for a further 4.3%.

Among the main countries of destination, Italy, with a CAGR of +122.7%, saw 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 export price for fish fillets and other fish meat stood at $X per ton in 2022, shrinking by -3.1% against the previous year. Over the period under review, the export price continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2018 when the average export price increased by 33%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Italy ($X per ton) and Portugal ($X per ton), while the average price for exports to Spain ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+2.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Fish Fillets and Other Fish Meat

Imports into Ghana

Imports of fish fillets and other fish meat into Ghana fell sharply to X tons in 2022, waning by -38.2% against the year before. Over the period under review, imports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 369% against the previous year. Imports peaked at X tons in 2021, and then fell sharply in the following year.

In value terms, imports of fish fillets and other fish meat declined sharply to $X in 2022. Overall, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 256%. Imports peaked at $X in 2021, and then fell significantly in the following year.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest fish fillets and other fish meat supplier to Ghana, accounting for a 9.3% share of total imports. Moreover, imports of fish fillets and other fish meat from the Netherlands exceeded the figures recorded by the second-largest supplier, South Africa (X tons), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands totaled +19.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+12.6% per year) and Germany (+15.4% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of fish fillets and other fish meat to Ghana, comprising 20% of total imports. The second position in the ranking was taken by Germany ($X), with a 1.8% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the Netherlands totaled +23.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+7.7% per year) and South Africa (+8.8% per year).

Import Prices by Country

The average import price for fish fillets and other fish meat stood at $X per ton in 2022, surging by 20% against the previous year. In general, the import price, however, continues to indicate a noticeable curtailment. The growth pace was the most rapid in 2017 an increase of 91%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (+25.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :