Ghana: Pyrethrum And Peppermint Market 2024

Pyrethrum And Peppermint Market Size in Ghana

In 2021, after two years of growth, there was significant decline in the Ghanian pyrethrum and peppermint market, when its value decreased by -31.9% to $X. Overall, consumption, however, showed a buoyant increase. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Pyrethrum And Peppermint Production in Ghana

In value terms, pyrethrum and peppermint production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 19% against the previous year. Pyrethrum and peppermint production peaked at $X in 2020, and then reduced in the following year.

Pyrethrum And Peppermint Exports

Exports from Ghana

In 2021, shipments abroad of pyrethrum and peppermint was finally on the rise to reach X tons after two years of decline. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 51% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, pyrethrum and peppermint exports skyrocketed to $X in 2021. Over the period under review, exports posted a temperate expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 91% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons), Spain (X tons) and Switzerland (X tons) were the main destinations of pyrethrum and peppermint exports from Ghana, together comprising 93% of total exports. The UK, India and France lagged somewhat behind, together accounting for a further 5.5%.

From 2012 to 2021, the biggest increases were in the UK (with a CAGR of +33.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for pyrethrum and peppermint exports from Ghana, comprising 76% of total exports. The second position in the ranking was taken by Spain ($X), with an 8.7% share of total exports. It was followed by Switzerland, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value to China stood at +11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-1.6% per year) and Switzerland (-6.2% per year).

Export Prices by Country

The average pyrethrum and peppermint export price stood at $X per ton in 2021, increasing by 22% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.1%. The pace of growth appeared the most rapid in 2014 when the average export price increased by 28%. The export price peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was France ($X per ton), while the average price for exports to Spain ($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 France (+15.0%), while the prices for the other major destinations experienced more modest paces of growth.

Pyrethrum And Peppermint Imports

Imports into Ghana

For the third year in a row, Ghana recorded growth in supplies from abroad of pyrethrum and peppermint, which increased by 51% to X tons in 2021. Over the period under review, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 140%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, pyrethrum and peppermint imports rose sharply to $X in 2021. Overall, imports continue to indicate a remarkable increase. The growth pace was the most rapid in 2017 when imports increased by 171% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Morocco (X tons) constituted the largest supplier of pyrethrum and peppermint to Ghana, accounting for a 63% share of total imports. Moreover, pyrethrum and peppermint imports from Morocco exceeded the figures recorded by the second-largest supplier, Egypt (X tons), fourfold. The third position in this ranking was taken by Ukraine (X tons), with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume from Morocco amounted to +45.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+60.9% per year) and Ukraine (+31.3% per year).

In value terms, the largest pyrethrum and peppermint suppliers to Ghana were Morocco ($X), Egypt ($X) and India ($X), together comprising 69% of total imports.

In terms of the main suppliers, Egypt, with a CAGR of +109.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average pyrethrum and peppermint import price amounted to $X per ton, falling by -29.2% against the previous year. In general, the import price continues to indicate a abrupt decline. The growth pace was the most rapid in 2020 when the average import price increased by 148%. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+30.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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