Ghana: Market for Powdered, Condensed Or Evaporated Milk 2024

Market Size for Powdered, Condensed Or Evaporated Milk in Ghana

The Ghanian market for powdered, condensed or evaporated milk reduced sharply to $X in 2022, which is down by X% 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). In general, consumption, however, posted a strong increase. Over the period under review, the market reached the peak level at $X in 2021, and then shrank markedly in the following year.

Exports of Powdered, Condensed Or Evaporated Milk

Exports from Ghana

In 2022, powdered, condensed or evaporated milk exports from Ghana soared to X tons, growing by X% on 2021 figures. In general, exports posted a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, powdered, condensed or evaporated milk exports skyrocketed to $X in 2022. Over the period under review, exports posted a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Togo (X tons), Senegal (X tons) and Cote d'Ivoire (X tons) were the main destinations of powdered, condensed or evaporated milk exports from Ghana, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X) remains the key foreign market for powdered, condensed or evaporated milk exports from Ghana, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Senegal stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (X% per year) and Togo (X% per year).

Export Prices by Country

The average export price for powdered, condensed or evaporated milk stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the export price recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while the average price for exports to Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Togo (X%), while the prices for the other major destinations experienced a decline.

Imports of Powdered, Condensed Or Evaporated Milk

Imports into Ghana

In 2022, the amount of powdered, condensed or evaporated milk imported into Ghana dropped to X tons, with a decrease of X% compared with 2021. Over the period under review, imports, however, continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2019 when imports increased by X%. Imports peaked at X tons in 2021, and then declined in the following year.

In value terms, powdered, condensed or evaporated milk imports reduced to $X in 2022. Overall, imports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest powdered, condensed or evaporated milk supplier to Ghana, accounting for a X% share of total imports. Moreover, powdered, condensed or evaporated milk imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Nigeria (X tons), fourfold. New Zealand (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Nigeria (X% per year) and New Zealand (X% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of powdered, condensed or evaporated milk to Ghana, comprising X% of total imports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total imports. It was followed by New Zealand, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Nigeria (X% per year) and New Zealand (X% per year).

Import Prices by Country

In 2022, the average import price for powdered, condensed or evaporated milk amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price continues to indicate a mild curtailment. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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