Ghana: Lime Market 2024

Lime Market Size in Ghana

The Ghanian lime market soared to $X in 2021, rising by 88% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a mild decrease. Lime consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Lime Exports

Exports from Ghana

Lime exports from Ghana reduced notably to X tons in 2021, which is down by -20.5% against the previous year's figure. In general, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 58%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, lime exports shrank notably to $X in 2021. Over the period under review, exports showed a slight contraction. The most prominent rate of growth was recorded in 2019 with an increase of 45%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Burkina Faso (X tons) was the main destination for lime exports from Ghana, with a 52% share of total exports. Moreover, lime exports to Burkina Faso exceeded the volume sent to the second major destination, Mali (X tons), threefold. The third position in this ranking was taken by Cote d'Ivoire (X tons), with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Burkina Faso stood at -2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mali (+2.1% per year) and Cote d'Ivoire (+16.3% per year).

In value terms, Burkina Faso ($X) remains the key foreign market for lime exports from Ghana, comprising 58% of total exports. The second position in the ranking was held by Mali ($X), with a 17% share of total exports. It was followed by Cote d'Ivoire, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Burkina Faso stood at -3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mali (+0.4% per year) and Cote d'Ivoire (+22.4% per year).

Export Prices by Country

The average lime export price stood at $X per ton in 2021, which is down by -3.6% against the previous year. Over the period under review, the export price recorded a mild slump. The growth pace was the most rapid in 2017 an increase of 5.2% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+5.2%), while the prices for the other major destinations experienced mixed trend patterns.

Lime Imports

Imports into Ghana

In 2021, overseas purchases of lime increased by 42% to X tons, rising for the fifth consecutive year after three years of decline. In general, imports enjoyed a notable increase. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, lime imports skyrocketed to $X in 2021. Overall, imports, however, recorded a perceptible reduction. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of lime to Ghana, with a 22% share of total imports. Moreover, lime imports from Spain exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. The third position in this ranking was held by France (X tons), with an 8.5% share.

From 2012 to 2021, the average annual growth rate of volume from Spain stood at +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-9.7% per year) and France (+11.2% per year).

In value terms, Spain ($X) constituted the largest supplier of lime to Ghana, comprising 22% of total imports. The second position in the ranking was taken by Turkey ($X), with a 9.2% share of total imports. It was followed by France, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value from Spain totaled -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-17.1% per year) and France (+1.1% per year).

Import Prices by Country

In 2021, the average lime import price amounted to $X per ton, growing by 7.8% against the previous year. In general, the import price, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2018 an increase of 15% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Portugal ($X per ton), while the price for Bosnia and Herzegovina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+3.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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