Ghana: Bambara Bean Market 2023

Bambara Bean Market Size in Ghana

The Ghanian bambara bean market amounted to $X in 2021, remaining constant against the previous year. In general, consumption continues to indicate tangible growth. Over the period under review, the market reached the peak level in 2021 and is likely to continue growth in the immediate term.

Bambara Bean Production in Ghana

In value terms, bambara bean production declined to $X in 2021 estimated in export price. Over the period under review, the total production indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +62.9% against 2015 indices. The pace of growth appeared the most rapid in 2018 with an increase of 17%. Over the period under review, production reached the peak level at $X in 2020, and then declined in the following year.

Bambara Bean Exports

Exports from Ghana

In 2021, after three years of growth, there was significant decline in overseas shipments of bambara beans, when their volume decreased by -21.2% to X tons. Overall, exports, however, posted strong growth. The growth pace was the most rapid in 2015 with an increase of 1,252%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, bambara bean exports reduced dramatically to $X in 2021. In general, exports, however, saw a tangible expansion. The pace of growth appeared the most rapid in 2018 with an increase of 1,389% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons) was the main destination for bambara bean exports from Ghana, accounting for a 72% share of total exports. Moreover, bambara bean exports to Spain exceeded the volume sent to the second major destination, Canada (X kg), fourfold. The third position in this ranking was held by the UK (X kg), with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain stood at +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+33.0% per year) and the UK (-0.2% per year).

In value terms, Spain ($X) remains the key foreign market for bambara bean exports from Ghana, comprising 85% of total exports. The second position in the ranking was held by Canada ($X), with an 11% share of total exports. It was followed by the UK, with a 0.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Spain totaled +10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+28.6% per year) and the UK (-37.7% per year).

Export Prices by Country

The average bambara bean export price stood at $X per ton in 2021, increasing by 7.2% against the previous year. In general, the export price, however, showed a slight decrease. The pace of growth appeared the most rapid in 2018 an increase of 44%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Spain ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+5.7%), while the prices for the other major destinations experienced a decline.

Bambara Bean Imports

Imports into Ghana

In 2021, imports of bambara beans into Ghana surged to X tons, rising by 20% on 2020 figures. In general, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 178% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, bambara bean imports declined modestly to $X in 2021. Over the period under review, imports, however, continue to indicate a perceptible decline. The pace of growth appeared the most rapid in 2017 when imports increased by 16%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) was the main bambara bean supplier to Ghana, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +94.0%.

In value terms, the United States ($X) constituted the largest supplier of bambara bean to Ghana.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +54.7%.

Import Prices by Country

In 2021, the average bambara bean import price amounted to $X per ton, waning by -20.6% against the previous year. Over the period under review, the import price showed a precipitous shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 77% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for Burkina Faso amounted to -15.9% per year.

Source: IndexBox Market Intelligence Platform

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