Spices; Saffron Price in Ghana - 2022
Contents:
- Spices; Saffron Price in Ghana (CIF) - 2022
- Spices; Saffron Price in Ghana (FOB) - 2022
- Spices; Saffron Imports in Ghana
- Spices; Saffron Exports in Ghana
Spices; Saffron Price in Ghana (CIF) - 2022
In 2022, the average spices; saffron import price amounted to $32,610 per ton, dropping by -2.5% against the previous year. Overall, the import price saw a abrupt slump. The most prominent rate of growth was recorded in 2020 an increase of 81% against the previous year. Over the period under review, average import prices hit record highs at $140,000 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 the UK ($268,000 per ton), while the price for the United Arab Emirates ($21,405 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lebanon (+31.9%), while the prices for the other major suppliers experienced mixed trend patterns.
Spices; Saffron Price in Ghana (FOB) - 2022
In 2022, the average spices; saffron export price amounted to $2,288 per ton, approximately mirroring the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price decreased by 99.9%. Over the period under review, the average export prices hit record highs at $2,290 per ton in 2020; afterwards, it flattened through to 2022.
As there is only one major export destination, the average price level is determined by prices for France.
From 2020 to 2022, the rate of growth in terms of prices for France amounted to 0.0% per year.
Spices; Saffron Imports in Ghana
In 2022, after three years of growth, there was significant decline in overseas purchases of spices; saffra, when their volume decreased by -20% to 164 kg. Overall, imports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 157% against the previous year.
In value terms, spices; saffron imports declined sharply to $5.3K in 2022. In general, imports, however, saw significant growth. The pace of growth was the most pronounced in 2020 when imports increased by 367% against the previous year.
| Import of Spices; Saffron in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 0.6 | 3.4 | 6.2 | 2.7 | 65.1% |
| Lebanon | 0.1 | 0.2 | 0.3 | 1.3 | 135.1% |
| United Kingdom | 0.1 | 0.2 | 0.3 | 1.1 | 122.4% |
| Others | N/A | N/A | N/A | 0.2 | 0% |
| Total | 0.8 | 3.8 | 6.9 | 5.3 | 87.8% |
Top Suppliers of Spices; Saffron to Ghana in 2022:
- United Arab Emirates (126.0 kg)
- Lebanon (28.0 kg)
- United Kingdom (4.0 kg)
Spices; Saffron Exports in Ghana
Spices; saffron exports from Ghana was estimated at 250 kg in 2022, standing approx. at 2021 figures. In general, exports continue to indicate a sharp reduction. The smallest decline of 99.9% was in 2021.
In value terms, spices; saffron exports totaled $572 in 2022. Overall, exports continue to indicate a sharp contraction. The smallest decline of 99.9% was in 2021.
| Export of Spices; Saffron in Ghana (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2020 | 2021 | 2022 | CAGR, 2020-2022 | |
| France | N/A | N/A | 572 | 0% | |
| United Kingdom | 1,145 | N/A | N/A | 0% | |
| Others | N/A | N/A | N/A | 0% | |
| Total | 1,145 | N/A | 572 | -29.3% | |
Top Export Markets for Spices; Saffron from Ghana in 2022:
- France (250.0 kg)
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