Starches; Inulin Price in Ghana - 2022

Starches; Inulin Price in Ghana (CIF) - 2022

In 2022, the average starches; inulin import price amounted to $464 per ton, shrinking by -2.3% against the previous year. Overall, the import price saw a pronounced shrinkage. The growth pace was the most rapid in 2018 an increase of 24% against the previous year. Over the period under review, average import prices reached the maximum at $725 per ton in 2012; however, from 2013 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 Israel ($914 per ton), while the price for Thailand ($339 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+10.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Starches; Inulin Price in Ghana (FOB) - 2022

The average starches; inulin export price stood at $758 per ton in 2022, declining by -4.2% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 125% against the previous year. The export price peaked at $791 per ton in 2021, and then declined slightly in the following year.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for Turkey amounted to +229.6% per year.

Starches; Inulin Imports in Ghana

After three years of growth, overseas purchases of starches; inulins decreased by -18.7% to 7.1K tons in 2022. Overall, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +15.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +52.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 60%. As a result, imports reached the peak of 8.8K tons, and then reduced rapidly in the following year.

In value terms, starches; inulin imports contracted sharply to $3.3M in 2022. Over the period under review, imports, however, posted a resilient expansion. The pace of growth was the most pronounced in 2021 when imports increased by 70%. As a result, imports attained the peak of $4.2M, and then fell sharply in the following year.

Import of Starches; Inulin in Ghana (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Turkey	715	756	1,044	1,678	32.9%
India	301	426	1,087	511	19.3%
Hong Kong SAR	241	141	360	287	6.0%
China	106	112	224	256	34.2%
Israel	123	65.0	25.0	255	27.5%
Egypt	41.3	118	156	103	35.6%
Thailand	487	658	326	50.2	-53.1%
Russia	N/A	N/A	541	N/A	0%
Others	108	173	406	170	16.3%
Total	2,123	2,450	4,170	3,310	16.0%

Top Suppliers of Starches; Inulin to Ghana in 2022:

Turkey (3799.5 tons)
India (1331.2 tons)
China (743.9 tons)
Hong Kong SAR (428.8 tons)
Israel (279.2 tons)
Egypt (191.3 tons)
Thailand (147.9 tons)

Starches; Inulin Exports in Ghana

In 2022, the amount of starches; inulins exported from Ghana surged to 476 tons, jumping by 31% on the previous year's figure. In general, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 685% against the previous year. As a result, the exports reached the peak of 588 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, starches; inulin exports skyrocketed to $360K in 2022. Over the period under review, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 1,322% against the previous year. As a result, the exports reached the peak of $434K. From 2021 to 2022, the growth of the exports remained at a lower figure.