Ghana: Market for Vegetables (Preserved, Frozen) 2024

Market Size for Vegetables (Preserved, Frozen) in Ghana

The Ghanian preserved and frozen vegetable market expanded significantly to $X in 2022, with an increase of 5.9% 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). Overall, consumption, however, continues to indicate a strong increase. Over the period under review, the market attained the peak level in 2022 and is likely to see steady growth in the near future.

Exports of Vegetables (Preserved, Frozen)

Exports from Ghana

For the fourth consecutive year, Ghana recorded growth in shipments abroad of vegetables (preserved, frozen), which increased by 109% to X tons in 2022. Over the period under review, exports saw a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 128% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, preserved and frozen vegetable exports skyrocketed to $X in 2022. In general, exports showed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X tons) was the main destination for preserved and frozen vegetable exports from Ghana, with a 71% share of total exports. Moreover, preserved and frozen vegetable exports to France exceeded the volume sent to the second major destination, the United States (X tons), fivefold. The third position in this ranking was held by Togo (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to France stood at +27.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+22.4% per year) and Togo (+26.4% per year).

In value terms, France ($X) remains the key foreign market for vegetables (preserved, frozen) exports from Ghana, comprising 89% of total exports. The second position in the ranking was held by the United States ($X), with a 7.3% share of total exports. It was followed by the UK, with a 2.9% share.

From 2012 to 2022, the average annual growth rate of value to France amounted to +31.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+44.0% per year) and the UK (+90.5% per year).

Export Prices by Country

The average preserved and frozen vegetable export price stood at $X per ton in 2022, dropping by -6.2% against the previous year. Over the period under review, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, preserved and frozen vegetable export price decreased by -7.9% against 2020 indices. The pace of growth was the most pronounced in 2013 when the average export price increased by 60%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to South Africa ($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 (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vegetables (Preserved, Frozen)

Imports into Ghana

In 2022, after four years of growth, there was significant decline in overseas purchases of vegetables (preserved, frozen), when their volume decreased by -11.1% to X tons. Over the period under review, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 84%. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, preserved and frozen vegetable imports rose significantly to $X in 2022. In general, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of 116%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The Netherlands (X tons), Belgium (X tons) and South Africa (X tons) were the main suppliers of preserved and frozen vegetable imports to Ghana, together comprising 48% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +63.4%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the Netherlands ($X), Belgium ($X) and South Africa ($X) appeared to be the largest preserved and frozen vegetable suppliers to Ghana, together accounting for 48% of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +66.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average preserved and frozen vegetable import price stood at $X per ton in 2022, surging by 23% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 South Africa ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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