Report Update Nov 1, 2024

Ghana - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights

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Ghana: Virgin Olive Oil Market 2024

Virgin Olive Oil Market Size in Ghana

The Ghanian virgin olive oil market fell significantly to $X in 2022, which is down by -17.5% 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). Overall, consumption, however, posted a resilient increase. Over the period under review, the market attained the maximum level at $X in 2021, and then shrank dramatically in the following year.

Virgin Olive Oil Imports

Imports into Ghana

In 2022, approx. X tons of virgin olive oil were imported into Ghana; dropping by -11.9% compared with the year before. In general, imports, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2019 with an increase of 185% against the previous year. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, virgin olive oil imports reduced dramatically to $X in 2022. Overall, imports, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2019 with an increase of 105% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then reduced sharply in the following year.

Imports by Country

In 2022, Tunisia (X tons) was the main supplier of virgin olive oil to Ghana, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Tunisia stood at +43.7%.

In value terms, Tunisia ($X) constituted the largest supplier of virgin olive oil to Ghana.

From 2012 to 2022, the average annual growth rate of value from Tunisia totaled +42.5%.

Import Prices by Country

In 2022, the average virgin olive oil import price amounted to $X per ton, dropping by -8.5% against the previous year. In general, the import price recorded a mild descent. The most prominent rate of growth was recorded in 2021 an increase of 24%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Tunisia.

From 2012 to 2022, the rate of growth in terms of prices for France amounted to +2.6% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for virgin olive oil in the world?

The countries with the highest volumes of virgin olive oil consumption in 2021 were Italy, Spain and the United States, together comprising 41% of global consumption. These countries were followed by Morocco, Turkey, Greece, France, Tunisia, Syrian Arab Republic, Algeria, Portugal, Brazil and Germany, which together accounted for a further 37%.

What are the largest producers of virgin olive oil in the world?

The country with the largest volume of virgin olive oil production was Spain, accounting for 35% of total volume. Moreover, virgin olive oil production in Spain exceeded the figures recorded by the second-largest producer, Tunisia, threefold. The third position in this ranking was occupied by Italy, with a 10% share.

What are the leading suppliers of virgin olive oil to Ghana?

In value terms, Spain constituted the largest supplier of virgin olive oil to Ghana, comprising 52% of total imports. The second position in the ranking was occupied by Italy, with a 14% share of total imports. It was followed by Tunisia, with a 13% share.

What is the average import price for virgin olive oil in Ghana?

In 2021, the average virgin olive oil import price amounted to $3,592 per ton, picking up by 1.6% against the previous year.

This report provides an in-depth analysis of the virgin olive 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 261 - Oil of Olives, Virgin

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