Ghana: Coconut Market 2024

Coconut Market Size in Ghana

The Ghanian coconut market amounted to $X in 2022, with an increase of X% against the previous year. In general, consumption, however, continues to indicate a prominent increase. Coconut consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Coconut Production in Ghana

In value terms, coconut production rose modestly to $X in 2022 estimated in export price. Overall, production, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Coconut production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

The average yield of coconuts in Ghana was estimated at X tons per ha in 2022, remaining stable against the previous year's figure. In general, the yield, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2017 to 2022, the growth of the average coconut yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of coconuts were harvested in Ghana; approximately equating 2021. The harvested area increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to coconut production reached the maximum at X ha in 2021, and then declined in the following year.

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Coconut Exports

Exports from Ghana

In 2022, shipments abroad of coconuts decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, exports, however, enjoyed strong growth. The growth pace was the most rapid in 2020 with an increase of X%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, coconut exports shrank rapidly to $X in 2022. Overall, exports, however, showed a significant increase. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X tons), the UK (X tons) and the United States (X tons) were the main destinations of coconut exports from Ghana, together comprising X% of total exports. Nigeria, Italy, the Netherlands, Switzerland, Canada, Spain, France, Norway and Belgium lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for coconuts exports from Ghana, comprising X% of total exports. The second position in the ranking was held by Switzerland ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (X% per year) and the UK (X% per year).

Export Prices by Country

The average coconut export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price posted significant growth. The growth pace was the most rapid in 2015 when the average export price increased by X%. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Turkey ($X 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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Coconut Imports

Imports into Ghana

In 2022, purchases abroad of coconuts decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, posted significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2021, and then contracted slightly in the following year.

In value terms, coconut imports reduced slightly to $X in 2022. In general, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then declined slightly in the following year.

Imports by Country

In 2022, Cote d'Ivoire (X tons) was the main supplier of coconut to Ghana, with a X% share of total imports. It was followed by the UK (X tons), with a X% share of total imports.

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

In value terms, Cote d'Ivoire ($X) constituted the largest supplier of coconuts to Ghana, comprising X% of total imports. The second position in the ranking was held by the UK ($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 coconut import price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt contraction. The pace of growth was the most pronounced in 2017 when the average import price increased by X%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($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 France (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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