Ghana: Sugar Crop Market 2024

Sugar Crop Market Size in Ghana

The Ghanian sugar crop market dropped to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption continues to indicate a mild downturn. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Sugar Crop Production in Ghana

In value terms, sugar crop production reduced to $X in 2022 estimated in export price. In general, production continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

In 2022, the average yield of sugar crops in Ghana totaled X tons per ha, stabilizing at the previous year. Overall, the yield, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2014 to 2022, the growth of the average sugar crop yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of sugar crops production in Ghana shrank slightly to X ha, remaining relatively unchanged against the year before. Over the period under review, the harvested area, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the harvested area increased by X% against the previous year. The sugar crop harvested area peaked at X ha in 2021, and then declined in the following year.

Sugar Crop Exports

Exports from Ghana

In 2022, overseas shipments of sugar crops decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, exports, however, enjoyed buoyant growth. The growth pace was the most rapid in 2020 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, sugar crop exports expanded rapidly to $X in 2022. Over the period under review, exports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for sugar crop exports from Ghana, accounting for a X% share of total exports. Moreover, sugar crop exports to the United States exceeded the volume sent to the second major destination, Germany (X kg), sevenfold. Canada (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Canada (X% per year).

In value terms, the United States ($X) emerged as the key foreign market for sugar crops exports from Ghana, comprising X% of total exports. The second position in the ranking was held by Canada ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Germany (X% per year).

Export Prices by Country

In 2022, the average sugar crop export price amounted to $X per ton, increasing by X% against the previous year. Overall, the export price posted pronounced growth. The pace of growth appeared the most rapid in 2017 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a lower figure.

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 United States ($X per ton), while the average price for exports to Germany ($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 the United States (X%), while the prices for the other major destinations experienced mixed trend patterns.

Sugar Crop Imports

Imports into Ghana

In 2022, the amount of sugar crops imported into Ghana dropped modestly to X kg, with a decrease of X% on the previous year. Over the period under review, imports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, sugar crop imports dropped dramatically to $X in 2022. In general, imports continue to indicate a noticeable shrinkage. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, India (X kg) constituted the largest supplier of sugar crop to Ghana, with a X% share of total imports. Moreover, sugar crop imports from India exceeded the figures recorded by the second-largest supplier, the United States (X kg), twofold. The United Arab Emirates (X kg) 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 India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and the United Arab Emirates (X% per year).

In value terms, India ($X), the United States ($X) and Spain ($X) appeared to be the largest sugar crop suppliers to Ghana, together accounting for X% of total imports.

India, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average sugar crop import price amounted to $X per ton, which is down by X% against the previous year. Overall, the import price showed a abrupt decrease. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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