Ghana: Millet Market 2024

Millet Market Size in Ghana

The Ghanian millet market totaled $X in 2022, surging by X% against the previous year. In general, consumption enjoyed a resilient expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Millet Production in Ghana

In value terms, millet production surged to $X in 2022 estimated in export price. In general, production recorded prominent growth. The pace of growth was the most pronounced in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

In 2022, the average millet yield in Ghana rose slightly to X tons per ha, with an increase of X% on 2021 figures. The yield figure 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 pace of growth was the most pronounced in 2020 with an increase of X%. As a result, the yield reached the peak level of X tons per ha. From 2021 to 2022, the growth of the average millet yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The millet harvested area in Ghana was estimated at X ha in 2022, remaining relatively unchanged against 2021. In general, the harvested area showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X%. The millet harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

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Millet Exports

Exports from Ghana

In 2022, millet exports from Ghana shrank rapidly to X tons, waning by X% compared with 2021. In general, exports, however, saw a significant increase. The pace of growth appeared the most rapid in 2018 when exports increased by X%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, millet exports dropped to $X in 2022. Over the period under review, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons), the UK (X tons) and Belgium (X tons) were the main destinations of millet exports from Ghana, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

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

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

Export Prices by Country

In 2022, the average millet export price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2020 an increase of X%. The export price peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Belgium ($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.

Millet Imports

Imports into Ghana

After four years of decline, purchases abroad of millet increased by X% to X tons in 2022. Overall, imports posted significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, millet imports skyrocketed to $X in 2022. In general, imports recorded significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Niger (X tons) was the main millet supplier to Ghana, with a X% share of total imports. It was followed by Senegal (X tons), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Niger stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Senegal (X% per year) and the United Arab Emirates (X% per year).

In value terms, Niger ($X) constituted the largest supplier of millet to Ghana, comprising X% of total imports. The second position in the ranking was taken by Senegal ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Niger totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Senegal (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

In 2022, the average millet import price amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price recorded a perceptible downturn. 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 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Senegal ($X per ton), while the price for Niger ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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