Ghana: Vinegar-Preserved Vegetable Market 2024

Vinegar-Preserved Vegetable Market Size in Ghana

In 2022, the Ghanian vinegar-preserved vegetable market decreased by -79.6% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption saw a perceptible reduction. As a result, consumption attained the peak level of $X, and then reduced remarkably in the following year.

Vinegar-Preserved Vegetable Production in Ghana

In value terms, vinegar-preserved vegetable production declined significantly to $X in 2022 estimated in export price. Overall, production saw a abrupt setback. The most prominent rate of growth was recorded in 2015 when the production volume increased by 33%. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Vinegar-Preserved Vegetable Exports

Exports from Ghana

In 2022, shipments abroad of vegetables in vinegar other than potatoes was finally on the rise to reach X tons after two years of decline. Over the period under review, exports continue to indicate a remarkable increase. The growth pace was the most rapid in 2014 when exports increased by 900% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, vinegar-preserved vegetable exports soared to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by 1,299%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ireland (X tons) was the main destination for vinegar-preserved vegetable exports from Ghana, with a 63% share of total exports. Moreover, vinegar-preserved vegetable exports to Ireland exceeded the volume sent to the second major destination, the UK (X tons), fivefold. The third position in this ranking was taken by Germany (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ireland stood at +29.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+57.1% per year) and Germany (+29.3% per year).

In value terms, Ireland ($X) remains the key foreign market for vegetables in vinegar other than potatoes exports from Ghana, comprising 67% of total exports. The second position in the ranking was taken by the United States ($X), with a 17% share of total exports. It was followed by the UK, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Ireland stood at +17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+75.8% per year) and the UK (+55.0% per year).

Export Prices by Country

In 2022, the average vinegar-preserved vegetable export price amounted to $X per ton, dropping by -29.4% against the previous year. In general, the export price saw a pronounced contraction. The pace of growth appeared the most rapid in 2014 when the average export price increased by 40%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: 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 UK (-1.4%), while the prices for the other major destinations experienced a decline.

Vinegar-Preserved Vegetable Imports

Imports into Ghana

In 2022, approx. X tons of vegetables in vinegar other than potatoes were imported into Ghana; falling by -8.7% compared with 2021 figures. In general, imports, however, saw a noticeable increase. The most prominent rate of growth was recorded in 2020 with an increase of 95% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, vinegar-preserved vegetable imports declined to $X in 2022. Over the period under review, imports, however, enjoyed pronounced growth. The pace of growth was the most pronounced in 2020 with an increase of 237%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Lebanon (X tons), Spain (X tons) and South Africa (X tons) were the main suppliers of vinegar-preserved vegetable imports to Ghana, together accounting for 61% of total imports. The United Arab Emirates, India, the Netherlands, France, the United States, Singapore, Morocco, Turkey and the UK lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of +516.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Lebanon ($X) constituted the largest supplier of vegetables in vinegar other than potatoes to Ghana, comprising 55% of total imports. The second position in the ranking was held by Spain ($X), with a 9.9% share of total imports. It was followed by South Africa, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value from Lebanon stood at +14.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+8.9% per year) and South Africa (-5.5% per year).

Import Prices by Country

In 2022, the average vinegar-preserved vegetable import price amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the import price recorded a mild shrinkage. The growth pace was the most rapid in 2020 when the average import price increased by 73% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+21.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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