Ghana - Vegetable Fats And Oils - Market Analysis, Forecast, Size, Trends And Insights
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View PricingVegetable Oils Price in Ghana - 2022
Contents:
- Vegetable Oils Price in Ghana (CIF) - 2022
- Vegetable Oils Price in Ghana (FOB) - 2022
- Vegetable Oils Imports in Ghana
- Vegetable Oils Exports in Ghana
Vegetable Oils Price in Ghana (CIF) - 2022
The average vegetable oils import price stood at $1,684 per ton in 2022, growing by 36% against the previous year. Overall, import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable oils import price increased by +49.6% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
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 Denmark ($4,548 per ton), while the price for Belgium ($812 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Vegetable Oils Price in Ghana (FOB) - 2022
In 2022, the average vegetable oils export price amounted to $1,661 per ton, growing by 47% against the previous year. In general, the export price saw a slight increase. The pace of growth was the most pronounced in 2018 an increase of 95% against the previous year. The export price peaked at $3,786 per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($24,965 per ton), while the average price for exports to Burkina Faso ($793 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 Nigeria (+27.2%), while the prices for the other major destinations experienced more modest paces of growth.
Vegetable Oils Imports in Ghana
In 2022, overseas purchases of vegetable fats and oils decreased by -75.8% to 720 tons, falling for the second year in a row after two years of growth. Overall, imports saw a sharp decrease. The pace of growth was the most pronounced in 2020 with an increase of 0.9%. As a result, imports attained the peak of 3K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, vegetable oils imports contracted markedly to $1.2M in 2022. Over the period under review, imports faced a precipitous descent. The pace of growth was the most pronounced in 2020 with an increase of 14%.
| Import of Vegetable Oils in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 2,203 | 2,695 | 2,776 | 401 | -43.3% |
| Turkey | 92.4 | 28.1 | 8.7 | 394 | 62.2% |
| Singapore | 20.8 | 25.3 | 63.0 | 104 | 71.0% |
| Denmark | 78.5 | 136 | 199 | 83.6 | 2.1% |
| Malaysia | 218 | 212 | 363 | 82.1 | -27.8% |
| Belgium | 167 | 110 | 149 | 67.3 | -26.1% |
| Others | 105 | 73.4 | 114 | 81.0 | -8.3% |
| Total | 2,885 | 3,279 | 3,674 | 1,213 | -25.1% |
Top Suppliers of Vegetable Oils to Ghana in 2022:
- Turkey (233.8 tons)
- Indonesia (233.6 tons)
- Belgium (82.9 tons)
- Singapore (58.9 tons)
- Malaysia (50.1 tons)
- Denmark (18.4 tons)
Vegetable Oils Exports in Ghana
After three years of growth, overseas shipments of vegetable fats and oils decreased by -20.4% to 205 tons in 2022. In general, exports, however, continue to indicate significant growth. The growth pace was the most rapid in 2020 with an increase of 204%.
In value terms, vegetable oils exports soared to $341K in 2022. Over the period under review, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 97%. The exports peaked in 2022 and are expected to retain growth in the immediate term.
| Export of Vegetable Oils in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Benin | 86.8 | 135 | 116 | 120 | 11.4% |
| Burkina Faso | 27.9 | 51.6 | 52.5 | 64.4 | 32.2% |
| United Kingdom | 0.7 | 17.9 | 10.6 | 44.5 | 299.1% |
| Brazil | 3.5 | 13.0 | 22.7 | 32.2 | 109.5% |
| Lebanon | N/A | N/A | N/A | 27.4 | 0% |
| Canada | 20.9 | 59.0 | 17.7 | 14.6 | -11.3% |
| Slovakia | N/A | N/A | 33.2 | N/A | 0% |
| Others | 11.9 | 22.4 | 38.3 | 38.0 | 47.3% |
| Total | 152 | 299 | 291 | 341 | 30.9% |
Top Export Markets for Vegetable Oils from Ghana in 2022:
- Benin (95.6 tons)
- Burkina Faso (81.1 tons)
- United Kingdom (9.3 tons)
- Brazil (3.7 tons)
- Lebanon (3.7 tons)
- Canada (3.1 tons)
This report provides an in-depth analysis of the vegetable oils 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:
- Prodcom 10416050 - Vegetable fats and oils and their fractions partly or wholly hydrogenated, inter-esterified, re-esterified or elaidinised, but not further prepared (including refined)
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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