Ghana: Kola Nut Market 2024

Kola Nut Market Size in Ghana

The Ghanian kola nut market reduced modestly to $X in 2022, remaining relatively unchanged against the previous year. Overall, consumption, however, continues to indicate a slight descent. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Kola Nut Production in Ghana

In value terms, kola nut production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a pronounced decrease. The pace of growth appeared the most rapid in 2019 when the production volume increased by 70% against the previous year. Kola nut production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

In 2022, the average yield of kola nuts in Ghana shrank to X kg per ha, remaining stable against the year before. In general, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 0.5%. Over the period under review, the average kola nut yield hit record highs at X kg per ha in 2018; however, from 2019 to 2022, the yield remained at a 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 total area harvested in terms of kola nuts production in Ghana was estimated at X ha, remaining constant against the previous year's figure. Overall, the harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 6% against the previous year. Over the period under review, the harvested area dedicated to kola nut production reached the peak figure at X ha in 2020; however, from 2021 to 2022, the harvested area stood at a somewhat lower figure.

Kola Nut Exports

Exports from Ghana

In 2022, overseas shipments of kola nuts were finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Overall, exports, however, showed a noticeable contraction. The growth pace was the most rapid in 2015 when exports increased by 1,599% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, kola nut exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a deep setback. The most prominent rate of growth was recorded in 2015 with an increase of 1,384%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Nigeria (X tons) was the main destination for kola nut exports from Ghana, accounting for a 89% share of total exports. Moreover, kola nut exports to Nigeria exceeded the volume sent to the second major destination, Niger (X tons), more than tenfold. The third position in this ranking was taken by Burkina Faso (X kg), with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Nigeria amounted to -4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (+1.9% per year) and Burkina Faso (-14.3% per year).

In value terms, Nigeria ($X) remains the key foreign market for kola nuts exports from Ghana, comprising 83% of total exports. The second position in the ranking was held by Niger ($X), with a 5% share of total exports. It was followed by Burkina Faso, with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Nigeria totaled -8.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (-1.1% per year) and Burkina Faso (-5.4% per year).

Export Prices by Country

The average kola nut export price stood at $X per ton in 2022, dropping by -4.6% against the previous year. In general, the export price saw a noticeable decline. The growth pace was the most rapid in 2019 an increase of 68%. Over the period under review, the average export prices attained the maximum 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was Burkina Faso ($X per ton), while the average price for exports to Togo ($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 Burkina Faso (+10.4%), while the prices for the other major destinations experienced a decline.

Kola Nut Imports

Imports into Ghana

After three years of growth, purchases abroad of kola nuts decreased by -2.4% to X tons in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 116% against the previous year. Imports peaked at X tons in 2021, and then fell slightly in the following year.

In value terms, kola nut imports contracted to $X in 2022. Over the period under review, imports, however, recorded a slight increase. The most prominent rate of growth was recorded in 2019 with an increase of 122%. Imports peaked at $X in 2021, and then contracted modestly in the following year.

Imports by Country

In 2022, Cote d'Ivoire (X tons) was the main supplier of kola nut to Ghana, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Cote d'Ivoire was relatively modest.

In value terms, Cote d'Ivoire ($X) constituted the largest supplier of kola nuts to Ghana.

From 2012 to 2022, the average annual growth rate of value from Cote d'Ivoire totaled +1.5%.

Import Prices by Country

In 2022, the average kola nut import price amounted to $X per ton, rising by 2.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2014 an increase of 66%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Cote d'Ivoire.

From 2012 to 2022, the rate of growth in terms of prices for Cote d'Ivoire amounted to +1.7% per year.

Source: IndexBox Platform

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