Ghana: Cocoa Butter Market 2024

Cocoa Butter Market Size in Ghana

The Ghanian cocoa butter market soared to $X in 2022, rising by X% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. Cocoa butter consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Cocoa Butter Production in Ghana

In value terms, cocoa butter production dropped modestly to $X in 2022 estimated in export price. Overall, production, however, showed a strong expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Cocoa butter production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Cocoa Butter Exports

Exports from Ghana

In 2022, approx. X tons of cocoa butter were exported from Ghana; reducing by X% compared with the previous year's figure. Over the period under review, exports, however, saw prominent growth. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, cocoa butter exports shrank modestly to $X in 2022. Overall, exports, however, posted a strong increase. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then contracted slightly in the following year.

Exports by Country

The Netherlands (X tons) was the main destination for cocoa butter exports from Ghana, with a X% share of total exports. Moreover, cocoa butter exports to the Netherlands exceeded the volume sent to the second major destination, France (X tons), twofold. The third position in this ranking was taken by Germany (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Germany (X% per year).

In value terms, the Netherlands ($X) remains the key foreign market for cocoa butter exports from Ghana, comprising X% of total exports. The second position in the ranking was taken by France ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Germany (X% per year).

Export Prices by Country

The average cocoa butter export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 an increase of X% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and Estonia ($X per ton), while the average price for exports to Spain ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Butter Imports

Imports into Ghana

In 2022, overseas purchases of cocoa butter decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, imports showed a noticeable decrease. The most prominent rate of growth was recorded in 2015 when imports increased by X%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, cocoa butter imports shrank modestly to $X in 2022. In general, imports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2015 with an increase of X%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Cote d'Ivoire (X tons) constituted the largest supplier of cocoa butter to Ghana, accounting for a X% share of total imports. Moreover, cocoa butter imports from Cote d'Ivoire exceeded the figures recorded by the second-largest supplier, Nigeria (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from Cote d'Ivoire totaled X%.

In value terms, Cote d'Ivoire ($X) constituted the largest supplier of cocoa butter to Ghana, comprising X% of total imports. The second position in the ranking was held by Nigeria ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Cote d'Ivoire amounted to X%.

Import Prices by Country

In 2022, the average cocoa butter import price amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price, however, saw a pronounced setback. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per ton), while the price for Cote d'Ivoire stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%).

Source: IndexBox Platform

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