Ghana: Dry Bean Market 2024

Dry Bean Market Size in Ghana

The Ghanian dry bean market shrank to $X in 2023, declining by X% against the previous year. Over the period under review, consumption recorded a perceptible decline. Dry bean consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Dry Bean Production in Ghana

In value terms, dry bean production fell remarkably to $X in 2023 estimated in export price. Overall, production continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2022 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

In 2023, the average yield of beans (dry) in Ghana contracted to X tons per ha, standing approx. at the previous year's figure. The yield figure increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the yield increased by X% against the previous year. The dry bean yield peaked at X tons per ha in 2022, and then reduced in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, the harvested area of beans (dry) in Ghana contracted slightly to X ha, dropping by X% compared with the previous year. Over the period under review, the harvested area saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the harvested area increased by X%. The dry bean harvested area peaked at X ha in 2012; however, from 2013 to 2023, the harvested area stood at a somewhat lower figure.

Dry Bean Exports

Exports from Ghana

In 2023, after three years of decline, there was significant growth in shipments abroad of beans (dry), when their volume increased by X% to X tons. Over the period under review, exports showed a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

In value terms, dry bean exports soared to $X in 2023. In general, exports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons), the UK (X tons) and Belgium (X tons) were the main destinations of dry bean exports from Ghana, together accounting for X% of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X), the UK ($X) and the United States ($X) constituted the largest markets for dry bean exported from Ghana worldwide, with a combined X% share of total exports.

India, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average dry bean export price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the export price, however, continues to indicate a abrupt downturn. The growth pace was the most rapid in 2017 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to South Africa ($X per ton) was amongst the lowest.

From 2012 to 2023, 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 a decline.

Dry Bean Imports

Imports into Ghana

In 2023, dry bean imports into Ghana surged to X tons, with an increase of X% against 2022 figures. Overall, imports, however, saw a perceptible downturn. The growth pace was the most rapid in 2022 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, dry bean imports soared to $X in 2023. In general, imports, however, showed a perceptible downturn. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Togo (X tons) constituted the largest supplier of dry bean to Ghana, accounting for a X% share of total imports. Moreover, dry bean imports from Togo exceeded the figures recorded by the second-largest supplier, Nigeria (X tons), twofold. The third position in this ranking was taken by Niger (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Togo was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Nigeria (X% per year) and Niger (X% per year).

In value terms, the largest dry bean suppliers to Ghana were Nigeria ($X), Togo ($X) and India ($X), together accounting for X% of total imports.

Among the main suppliers, Nigeria, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average dry bean import price stood at $X per ton in 2023, growing by X% against the previous year. Overall, the import price, however, continues to indicate a slight curtailment. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ethiopia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform