Ghana: Wheat Starch Market 2024

Wheat Starch Market Size in Ghana

The Ghanian wheat starch market stood at $X in 2021, growing by 10% against the previous year. Overall, the total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -8.7% against 2019 indices. Wheat starch consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Wheat Starch Production in Ghana

In value terms, wheat starch production expanded notably to $X in 2021 estimated in export price. Over the period under review, the total production indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -11.3% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 53% against the previous year. Wheat starch production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Wheat Starch Exports

Exports from Ghana

In 2021, approx. X tons of wheat starch were exported from Ghana; with a decrease of -2.3% compared with the previous year's figure. Over the period under review, exports saw a mild decrease. The most prominent rate of growth was recorded in 2014 with an increase of 628%. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, wheat starch exports shrank remarkably to $X in 2021. Overall, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 574%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for wheat starch exports from Ghana, accounting for a 89% share of total exports. Moreover, wheat starch exports to the United States exceeded the volume sent to the second major destination, Niger (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to -2.3%.

In value terms, the United States ($X) remains the key foreign market for wheat starch exports from Ghana, comprising 95% of total exports. The second position in the ranking was taken by Niger ($X), with a 1.5% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States totaled -10.0%.

Export Prices by Country

In 2021, the average wheat starch export price amounted to $X per ton, waning by -29.3% against the previous year. Over the period under review, the export price showed a abrupt decline. The growth pace was the most rapid in 2019 when the average export price increased by 16% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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 Niger stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-7.9%).

Wheat Starch Imports

Imports into Ghana

In 2021, purchases abroad of wheat starch decreased by -51.3% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports faced a deep reduction. The growth pace was the most rapid in 2015 with an increase of 67%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, wheat starch imports reduced notably to $X in 2021. Overall, imports recorded a abrupt decline. The most prominent rate of growth was recorded in 2015 when imports increased by 63% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

Germany (X tons), Turkey (X tons) and India (X tons) were the main suppliers of wheat starch imports to Ghana, with a combined 57% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +60.6%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X) constituted the largest supplier of wheat starch to Ghana, comprising 38% of total imports. The second position in the ranking was taken by China ($X), with a 15% share of total imports. It was followed by India, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to -6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-19.8% per year) and India (+19.3% per year).

Import Prices by Country

The average wheat starch import price stood at $X per ton in 2021, falling by -31.5% against the previous year. Overall, import price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 an increase of 36%. As a result, import price reached the peak level of $X per ton, and then shrank markedly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+11.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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