Ghana: Groundnuts Market 2025

Groundnuts Market Size in Ghana

In 2022, after two years of growth, there was decline in the Ghanian groundnuts market, when its value decreased by -0.6% to $X. Over the period under review, consumption showed a abrupt descent. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Groundnuts Production in Ghana

In value terms, groundnuts production fell modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt decrease. The pace of growth appeared the most rapid in 2015 when the production volume increased by 32% against the previous year. Groundnuts production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of ground-nut (in-shell) in Ghana dropped to X tons per ha, approximately equating 2021. Overall, the yield showed a pronounced descent. The pace of growth was the most pronounced in 2018 when the yield increased by 27%. As a result, the yield attained the peak level of X tons per ha. From 2019 to 2022, the growth of the average groundnuts yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of ground-nut (in-shell) in Ghana stood at X ha, approximately equating the year before. In general, the harvested area saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the harvested area increased by 7.8% against the previous year. Over the period under review, the harvested area dedicated to groundnuts production attained the maximum in 2022 and is likely to continue growth in the near future.

Groundnuts Exports

Exports from Ghana

In 2022, groundnuts exports from Ghana reached X tons, with an increase of 1.7% on the previous year's figure. In general, exports, however, faced a precipitous decline. The growth pace was the most rapid in 2015 when exports increased by 347%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, groundnuts exports rose sharply to $X in 2022. Over the period under review, exports, however, saw a sharp reduction. The most prominent rate of growth was recorded in 2015 with an increase of 29% 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 groundnuts exports from Ghana, with a 96% share of total exports. It was followed by Canada (X kg), with a 2.6% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Burkina Faso stood at -8.3%.

In value terms, Burkina Faso ($X) remains the key foreign market for ground-nut (in-shell) exports from Ghana, comprising 61% of total exports. The second position in the ranking was held by Canada ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Burkina Faso amounted to +9.3%.

Export Prices by Country

In 2022, the average groundnuts export price amounted to $X per ton, rising by 3.8% against the previous year. Overall, the export price, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2016 when the average export price increased by 297% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Burkina Faso amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+33.6%), while the prices for the other major destinations experienced more modest paces of growth.

Groundnuts Imports

Imports into Ghana

In 2022, overseas purchases of ground-nut (in-shell) decreased by -43.9% to X tons, falling for the second year in a row after seven years of growth. In general, imports recorded a precipitous slump. The pace of growth appeared the most rapid in 2020 with an increase of 150% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, groundnuts imports dropped markedly to $X in 2022. Overall, imports continue to indicate a sharp setback. The most prominent rate of growth was recorded in 2020 with an increase of 140% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Burkina Faso (X tons) and Niger (X tons) were the main suppliers of groundnuts imports to Ghana.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of -25.0%).

In value terms, the largest groundnuts suppliers to Ghana were Burkina Faso ($X) and Niger ($X).

Among the main suppliers, Niger, with a CAGR of -27.2%, saw the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

The average groundnuts import price stood at $X per ton in 2022, growing by 23% against the previous year. Over the period under review, the import price, however, showed a deep downturn. The pace of growth appeared the most rapid in 2013 an increase of 1,583%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Burkina Faso ($X per ton), while the price for Niger amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lebanon (+99.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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