Report Update Nov 1, 2024

Ghana - Maize Oil - Market Analysis, Forecast, Size, Trends and Insights

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Ghana: Maize Oil Market 2024

Maize Oil Market Size in Ghana

In 2022, after two years of growth, there was significant decline in the Ghanian maize oil market, when its value decreased by -42.7% to $X. In general, consumption, however, enjoyed a prominent increase. As a result, consumption reached the peak level of $X, and then fell significantly in the following year.

Maize Oil Production in Ghana

In value terms, maize oil production contracted sharply to $X in 2022 estimated in export price. In general, production showed a sharp decrease. The most prominent rate of growth was recorded in 2019 when the production volume increased by 877,800%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Maize Oil Exports

Exports from Ghana

In 2022, the amount of maize oil exported from Ghana totaled X tons, leveling off at 2021. Overall, exports, however, faced a dramatic decrease. The growth pace was the most rapid in 2013 when exports increased by 93%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, maize oil exports totaled $X in 2022. Over the period under review, exports, however, saw a deep slump. The most prominent rate of growth was recorded in 2013 with an increase of 89%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Togo (X tons) was the main destination for maize oil exports from Ghana, with a approx. 98% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Togo totaled -22.8%.

In value terms, Togo ($X) also remains the key foreign market for maize oil exports from Ghana.

From 2012 to 2022, the average annual growth rate of value to Togo totaled -19.4%.

Export Prices by Country

The average maize oil export price stood at $X per ton in 2022, with an increase of 4.5% against the previous year. Overall, export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 an increase of 38% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Togo.

From 2012 to 2022, the rate of growth in terms of prices for Togo amounted to +4.3% per year.

Maize Oil Imports

Imports into Ghana

In 2022, overseas purchases of maize oil decreased by -38.1% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2021 when imports increased by 327%. As a result, imports attained the peak of X tons, and then shrank notably in the following year.

In value terms, maize oil imports reduced notably to $X in 2022. In general, imports, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 432%. Over the period under review, imports hit record highs at $X in 2021, and then declined dramatically in the following year.

Imports by Country

In 2022, Brazil (X tons) constituted the largest maize oil supplier to Ghana, with a 72% share of total imports. Moreover, maize oil imports from Brazil exceeded the figures recorded by the second-largest supplier, South Africa (X tons), sevenfold. Turkey (X tons) ranked third in terms of total imports with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+20.8% per year) and Turkey (-3.1% per year).

In value terms, Brazil ($X) constituted the largest supplier of maize oil to Ghana, comprising 68% of total imports. The second position in the ranking was taken by Turkey ($X), with a 12% share of total imports. It was followed by the United States, with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+5.1% per year) and the United States (+11.8% per year).

Import Prices by Country

The average maize oil import price stood at $X per ton in 2022, growing by 2.6% against the previous year. In general, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, maize oil import price decreased by -10.9% against 2020 indices. The pace of growth was the most pronounced in 2020 when the average import price increased by 117%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+26.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for maize oil in the world?

The United States remains the largest maize oil consuming country worldwide, comprising approx. 45% of total volume. Moreover, maize oil consumption in the United States exceeded the figures recorded by the second-largest consumer, China, threefold. The third position in this ranking was occupied by Brazil, with a 3.2% share.

What are the largest producers of maize oil in the world?

The United States remains the largest maize oil producing country worldwide, accounting for 50% of total volume. Moreover, maize oil production in the United States exceeded the figures recorded by the second-largest producer, China, threefold. The third position in this ranking was occupied by Brazil, with a 4.4% share.

What are the leading suppliers of maize oil to Ghana?

In value terms, the largest maize oil suppliers to Ghana were the United States, Turkey and Lebanon, together comprising 71% of total imports.

What are the leading importers of maize oil from Ghana?

In value terms, the United States remains the key foreign market for maize oil exports from Ghana.

What is the average export price for maize oil in Ghana?

In 2021, the average maize oil export price amounted to $568 per ton, remaining constant against the previous year.

What is the average import price for maize oil in Ghana?

In 2021, the average maize oil import price amounted to $1,356 per ton, which is down by -16.6% against the previous year.

This report provides an in-depth analysis of the maize oil market in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 60 - Oil of Maize

Country coverage:

Ghana

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ghana
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023