Milled Rice Price in Ghana - 2022
Contents:
- Milled Rice Price in Ghana (CIF) - 2022
- Milled Rice Price in Ghana (FOB) - 2022
- Milled Rice Imports in Ghana
- Milled Rice Exports in Ghana
Milled Rice Price in Ghana (CIF) - 2022
The average milled rice import price stood at $522 per ton in 2022, leveling off at the previous year. Overall, the import price showed a mild slump. The pace of growth appeared the most rapid in 2020 when the average import price increased by 5.4%. Over the period under review, average import prices hit record highs at $617 per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.
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 Thailand ($763 per ton), while the price for China ($319 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Milled Rice Price in Ghana (FOB) - 2022
In 2022, the average milled rice export price amounted to $1,349 per ton, growing by 52% against the previous year. Overall, the export price enjoyed strong growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by 108%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($2,543 per ton), while the average price for exports to Canada ($639 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 Australia (+32.5%), while the prices for the other major destinations experienced mixed trend patterns.
Milled Rice Imports in Ghana
Milled rice imports into Ghana skyrocketed to 1.1M tons in 2022, with an increase of 21% compared with the previous year's figure. Overall, total imports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +23.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +89.2% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 27%. Imports peaked in 2022 and are expected to retain growth in the near future.
In value terms, milled rice imports skyrocketed to $559M in 2022. Over the period under review, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +25.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +95.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 30% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.
| Import of Milled Rice in Ghana (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 202 | 266 | 184 | 224 | 3.5% |
| India | 20.9 | 26.9 | 24.6 | 30.2 | 13.1% |
| Thailand | 34.4 | 41.8 | 20.6 | 24.6 | -10.6% |
| China | 2.4 | 6.0 | 10.7 | 11.2 | 67.1% |
| Cote d'Ivoire | 1.8 | 2.9 | 2.6 | 10.5 | 80.0% |
| Pakistan | 19.9 | 20.6 | 10.2 | 6.9 | -29.7% |
| Others | 5.3 | 7.4 | 212 | 252 | 262.3% |
| Total | 286 | 371 | 465 | 559 | 25.0% |
Top Suppliers of Milled Rice to Ghana in 2022:
- Vietnam (426.6K tons)
- India (80.1K tons)
- China (35.0K tons)
- Thailand (32.2K tons)
- Cote d'Ivoire (18.6K tons)
- Pakistan (14.9K tons)
Milled Rice Exports in Ghana
In 2022, shipments abroad of semi-milled or wholly milled (bleached) rice decreased by -45.9% to 14 tons, falling for the second consecutive year after two years of growth. Overall, exports showed a dramatic slump. The pace of growth was the most pronounced in 2020 when exports increased by 35% against the previous year. As a result, the exports attained the peak of 414 tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, milled rice exports reduced sharply to $19K in 2022. In general, exports continue to indicate a sharp reduction. The most prominent rate of growth was recorded in 2020 when exports increased by 75%. As a result, the exports attained the peak of $177K. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Milled Rice in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 11.7 | 3.3 | 8.2 | 6.8 | -16.5% |
| Ireland | N/A | N/A | N/A | 5.5 | 0% |
| Canada | 0.1 | 0.5 | 8.6 | 0.2 | 26.0% |
| Benin | 15.1 | 171 | N/A | N/A | 1032.5% |
| Togo | 65.5 | N/A | N/A | N/A | 0% |
| Others | 8.7 | 2.1 | 6.2 | 6.4 | -9.7% |
| Total | 101 | 177 | 23.0 | 18.9 | -42.8% |
Top Export Markets for Milled Rice from Ghana in 2022:
- Ireland (4.1 tons)
- Australia (2.7 tons)
- Canada (0.3 tons)
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