Ghana: Smoked Salmon Market 2024

Smoked Salmon Market Size in Ghana

After two years of growth, the Ghanian smoked salmon market decreased by -31.7% to $X in 2022. Over the period under review, consumption saw a relatively flat trend pattern. Smoked salmon consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Smoked Salmon Exports

Exports from Ghana

In 2022, the amount of smoked pacific, atlantic and danube salmon exported from Ghana soared to X kg, with an increase of 113% compared with the previous year. Over the period under review, exports, however, recorded a mild reduction. The exports peaked at X kg in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, smoked salmon exports surged to $X in 2022. In general, total exports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -28.7% against 2020 indices. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Togo (X kg) was the main destination for smoked salmon exports from Ghana, with a 92% share of total exports. Moreover, smoked salmon exports to Togo exceeded the volume sent to the second major destination, the UK (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Togo amounted to -3.9%.

In value terms, Togo ($X) remains the key foreign market for smoked pacific, atlantic and danube salmon exports from Ghana, comprising 67% of total exports. The second position in the ranking was taken by the UK ($X), with a 25% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Togo amounted to -4.7%.

Export Prices by Country

The average smoked salmon export price stood at $X per ton in 2022, falling by -21.3% against the previous year. In general, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, smoked salmon export price increased by +65.7% against 2012 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 31% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped rapidly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+18.5%).

Smoked Salmon Imports

Imports into Ghana

In 2022, the amount of smoked pacific, atlantic and danube salmon imported into Ghana fell dramatically to X tons, dropping by -24.2% against 2021 figures. Overall, imports showed a perceptible setback. The most prominent rate of growth was recorded in 2017 when imports increased by 218%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, smoked salmon imports plummeted to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 156%. As a result, imports reached the peak of $X, and then contracted dramatically in the following year.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest smoked salmon supplier to Ghana, with a 28% share of total imports. Moreover, smoked salmon imports from the Netherlands exceeded the figures recorded by the second-largest supplier, South Africa (X kg), fourfold. Norway (X kg) ranked third in terms of total imports with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands amounted to -3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+4.8% per year) and Norway (+8.6% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of smoked pacific, atlantic and danube salmon to Ghana, comprising 35% of total imports. The second position in the ranking was taken by Germany ($X), with a 4.4% share of total imports. It was followed by Denmark, with a 3.2% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-7.4% per year) and Denmark (-18.4% per year).

Import Prices by Country

In 2022, the average smoked salmon import price amounted to $X per ton, falling by -8.2% against the previous year. In general, the import price, however, recorded temperate growth. The most prominent rate of growth was recorded in 2019 an increase of 90%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+20.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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