Ghana: Market for Rusks, Toasted Bread and Similar Toasted Products 2024

Market Size for Rusks, Toasted Bread and Similar Toasted Products in Ghana

The Ghanian rusks and toasted bread market shrank sharply to $X in 2021, with a decrease of -21% against the previous year. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +36.8% against 2019 indices. As a result, consumption reached the peak level of $X, and then fell sharply in the following year.

Production of Rusks, Toasted Bread and Similar Toasted Products in Ghana

In value terms, rusks and toasted bread production declined sharply to $X in 2021 estimated in export price. Overall, production, however, recorded tangible growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 71%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Exports of Rusks, Toasted Bread and Similar Toasted Products

Exports from Ghana

In 2021, after three years of growth, there was significant decline in shipments abroad of rusks, toasted bread and similar toasted products, when their volume decreased by -21% to X tons. Overall, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 2,961%. Over the period under review, the exports attained the maximum at X tons in 2020, and then shrank rapidly in the following year.

In value terms, rusks and toasted bread exports skyrocketed to $X in 2021. In general, exports, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2018 with an increase of 3,620%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Niger (X tons) and Togo (X tons) were the main destinations of rusks and toasted bread exports from Ghana.

From 2012 to 2021, the biggest increases were recorded for Togo (with a CAGR of +2.6%).

In value terms, Niger ($X) emerged as the key foreign market for rusks, toasted bread and similar toasted products exports from Ghana, comprising 78% of total exports. The second position in the ranking was taken by Togo ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Niger was relatively modest.

Export Prices by Country

The average rusks and toasted bread export price stood at $X per ton in 2021, increasing by 54% against the previous year. Over the period under review, the export price posted a moderate expansion. The pace of growth appeared the most rapid in 2015 an increase of 197%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Niger ($X per ton), while the average price for exports to Togo totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Togo (-1.9%).

Imports of Rusks, Toasted Bread and Similar Toasted Products

Imports into Ghana

Rusks and toasted bread imports into Ghana surged to X tons in 2021, increasing by 130% against the previous year. Over the period under review, imports enjoyed a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, rusks and toasted bread imports skyrocketed to $X in 2021. In general, imports continue to indicate a strong increase. The growth pace was the most rapid in 2014 with an increase of 121%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest supplier of rusks and toasted bread to Ghana, with a 55% share of total imports. Moreover, rusks and toasted bread imports from Malaysia exceeded the figures recorded by the second-largest supplier, France (X tons), fivefold. Spain (X tons) ranked third in terms of total imports with a 5% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia stood at +18.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+30.7% per year) and Spain (+58.3% per year).

In value terms, Malaysia ($X) constituted the largest supplier of rusks, toasted bread and similar toasted products to Ghana, comprising 59% of total imports. The second position in the ranking was taken by France ($X), with a 9.6% share of total imports. It was followed by Spain, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Malaysia stood at +18.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+31.1% per year) and Spain (+51.1% per year).

Import Prices by Country

The average rusks and toasted bread import price stood at $X per ton in 2021, with a decrease of -17.9% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 50% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Lebanon ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lebanon (+19.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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