Ghana: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in Ghana

The Ghanian evaporated and condensed milk market fell to $X in 2022, waning by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a noticeable reduction. Evaporated and condensed milk consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Exports of Evaporated And Condensed Milk

Exports from Ghana

Evaporated and condensed milk exports from Ghana totaled X tons in 2022, remaining stable against the previous year. Over the period under review, exports recorded a prominent expansion. The pace of growth appeared the most rapid in 2018 with an increase of X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, evaporated and condensed milk exports contracted to $X in 2022. Overall, exports recorded strong growth. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2021, and then dropped in the following year.

Exports by Country

The United Arab Emirates (X tons) was the main destination for evaporated and condensed milk exports from Ghana, accounting for a X% share of total exports. Moreover, evaporated and condensed milk exports to the United Arab Emirates exceeded the volume sent to the second major destination, Cote d'Ivoire (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (X% per year) and Togo (X% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for evaporated and condensed milk exports from Ghana, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (X% per year) and Togo (X% per year).

Export Prices by Country

The average evaporated and condensed milk export price stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, 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 Cote d'Ivoire ($X per ton), while the average price for exports to Togo ($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 Togo (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Imports of Evaporated And Condensed Milk

Imports into Ghana

In 2022, imports of evaporated and condensed milk into Ghana reduced to X tons, with a decrease of X% on 2021 figures. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, evaporated and condensed milk imports contracted to $X in 2022. Overall, total imports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2014 when imports increased by X%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Oman (X tons) constituted the largest evaporated and condensed milk supplier to Ghana, accounting for a X% share of total imports. Moreover, evaporated and condensed milk imports from Oman exceeded the figures recorded by the second-largest supplier, Nigeria (X tons), sixfold. The third position in this ranking was held by Malaysia (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Oman totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Nigeria (X% per year) and Malaysia (X% per year).

In value terms, Oman ($X) constituted the largest supplier of evaporated and condensed milk to Ghana, comprising X% of total imports. The second position in the ranking was held by Nigeria ($X), with a X% share of total imports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Oman stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Nigeria (X% per year) and Malaysia (X% per year).

Import Prices by Country

In 2022, the average evaporated and condensed milk import price amounted to $X per ton, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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 New Zealand ($X per ton), while the price for Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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