Ghana: Market for Palmitic Acid, Stearic Acid, Their Salts And Esters 2024

Market Size for Palmitic Acid, Stearic Acid, Their Salts And Esters in Ghana

In 2021, the Ghanian market for palmitic acid, stearic acid, their salts and esters increased by 17% to $X, rising for the second consecutive year after four years of decline. In general, consumption, however, recorded a abrupt curtailment. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Palmitic Acid, Stearic Acid, Their Salts And Esters in Ghana

In value terms, production of palmitic acid, stearic acid, their salts and esters contracted to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a abrupt contraction. The pace of growth was the most pronounced in 2015 with an increase of 32% against the previous year. Production of peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Exports from Ghana

In 2021, shipments abroad of palmitic acid, stearic acid, their salts and esters decreased by -90% to X tons for the first time since 2016, thus ending a four-year rising trend. Over the period under review, exports showed a sharp reduction. The pace of growth appeared the most rapid in 2015 with an increase of 617% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of palmitic acid, stearic acid, their salts and esters reduced rapidly to $X in 2021. Overall, exports saw a dramatic decline. The pace of growth appeared the most rapid in 2015 with an increase of 499% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Togo (X tons), Nigeria (X tons) and Turkey (X tons) were the main destinations of exports of palmitic acid, stearic acid, their salts and esters from Ghana.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nigeria (with a CAGR of -6.5%), while the other leaders experienced a decline.

In value terms, Nigeria ($X) remains the key foreign market for palmitic acid, stearic acid, their salts and esters exports from Ghana, comprising 73% of total exports. The second position in the ranking was taken by Togo ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Nigeria stood at -10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (-35.3% per year) and Turkey (-12.8% per year).

Export Prices by Country

In 2021, the average export price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, waning by -16.7% against the previous year. In general, the export price saw a pronounced shrinkage. The growth pace was the most rapid in 2013 an increase of 192%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Togo ($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 Turkey (+7.7%), while the prices for the other major destinations experienced a decline.

Imports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Imports into Ghana

In 2021, approx. X tons of palmitic acid, stearic acid, their salts and esters were imported into Ghana; increasing by 7.7% against the previous year. In general, imports recorded a noticeable expansion. The growth pace was the most rapid in 2013 when imports increased by 135% against the previous year. Over the period under review, imports of reached the maximum at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of palmitic acid, stearic acid, their salts and esters declined to $X in 2021. Overall, imports, however, recorded a noticeable reduction. The most prominent rate of growth was recorded in 2013 when imports increased by 111%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Indonesia (X kg), Malaysia (X kg) and China (X kg) were the main suppliers of imports of palmitic acid, stearic acid, their salts and esters to Ghana, with a combined 2% share of total imports. These countries were followed by Denmark, Italy, Turkey, India and Belgium, which together accounted for a further 1.2%.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of -8.3%), while purchases for the other leaders experienced a decline.

In value terms, the largest palmitic acid, stearic acid, their salts and esters suppliers to Ghana were China ($X), Denmark ($X) and India ($X), together accounting for 2.6% of total imports. These countries were followed by Malaysia, Turkey, Indonesia, Italy and Belgium, which together accounted for a further 1.7%.

Among the main suppliers, Italy, with a CAGR of -15.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average import price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, shrinking by -17.3% against the previous year. In general, the import price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2018 when the average import price increased by 14% against the previous year. Over the period under review, average import prices reached the peak figure 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 Denmark ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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