Report Update Nov 1, 2024

Ghana - Wheat - Market Analysis, Forecast, Size, Trends and Insights

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Ghana: Wheat Market 2024

Wheat Market Size in Ghana

In 2022, after two years of growth, there was significant decline in the Ghanian wheat market, when its value decreased by -7.6% to $X. Over the period under review, consumption recorded notable growth. Over the period under review, the market attained the peak level at $X in 2021, and then declined in the following year.

Wheat Exports

Exports from Ghana

In 2022, after three years of decline, there was growth in overseas shipments of wheat, when their volume increased by 1.2% to X tons. Over the period under review, exports, however, recorded a sharp setback. The most prominent rate of growth was recorded in 2013 when exports increased by 65% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wheat exports rose remarkably to $X in 2022. In general, exports, however, recorded a precipitous descent. The most prominent rate of growth was recorded in 2013 when exports increased by 38%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for wheat exports from Ghana, accounting for a 58% share of total exports. Moreover, wheat exports to the United States exceeded the volume sent to the second major destination, Belgium (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+69.1% per year) and the UK (+54.3% per year).

In value terms, the United States ($X) emerged as the key foreign market for wheat exports from Ghana, comprising 62% of total exports. The second position in the ranking was taken by the UK ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+28.2% per year) and Belgium (+57.2% per year).

Export Prices by Country

In 2022, the average wheat export price amounted to $X per ton, with an increase of 4% against the previous year. Over the period under review, the export price, however, continues to indicate a slight curtailment. The growth pace was the most rapid in 2017 when the average export price increased by 80% against the previous year. 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 somewhat 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 ($X per ton), while the average price for exports to Belgium ($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 Belgium (-7.1%), while the prices for the other major destinations experienced a decline.

Wheat Imports

Imports into Ghana

Wheat imports into Ghana reached X tons in 2022, leveling off at the year before. In general, imports enjoyed a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of 57%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, wheat imports declined to $X in 2022. Overall, imports continue to indicate a tangible increase. The growth pace was the most rapid in 2020 when imports increased by 57%. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, Canada (X tons) constituted the largest wheat supplier to Ghana, with a 37% share of total imports. Moreover, wheat imports from Canada exceeded the figures recorded by the second-largest supplier, Argentina (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Canada amounted to +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+67.5% per year) and the United States (+0.0% per year).

In value terms, Canada ($X) constituted the largest supplier of wheat to Ghana, comprising 43% of total imports. The second position in the ranking was taken by Argentina ($X), with an 11% share of total imports. It was followed by the United States, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Canada was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+72.6% per year) and the United States (-3.9% per year).

Import Prices by Country

The average wheat import price stood at $X per ton in 2022, dropping by -11.3% against the previous year. Over the period under review, the import price showed a pronounced decrease. The growth pace was the most rapid in 2021 when the average import price increased by 29% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Canada ($X per ton) and Germany ($X per ton), while the price for Latvia ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for wheat in the world?

The countries with the highest volumes of wheat consumption in 2021 were China, India and Russia, with a combined 39% share of global consumption.

What are the largest producers of wheat in the world?

The countries with the highest volumes of wheat production in 2021 were China, India and Russia, together comprising 42% of global production.

What are the leading suppliers of wheat to Ghana?

In value terms, Canada constituted the largest supplier of wheat to Ghana, comprising 83% of total imports. The second position in the ranking was occupied by Lithuania, with an 8.2% share of total imports. It was followed by Ukraine, with a 5.7% share.

What are the leading importers of wheat from Ghana?

In value terms, Belgium remains the key foreign market for wheat exports from Ghana.

What is the average export price for wheat in Ghana?

In 2021, the average wheat export price amounted to $119 per ton, reducing by -24.6% against the previous year.

What is the average import price for wheat in Ghana?

The average wheat import price stood at $231 per ton in 2021, flattening at the previous year.

This report provides an in-depth analysis of the wheat market in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 15 - Wheat

Country coverage:

Ghana

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ghana
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023