Ghana: Paddy Rice Market 2023

Paddy Rice Market Size in Ghana

After six years of growth, the Ghanian paddy rice market decreased by -1.5% to $X in 2022. Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +59.4% against 2015 indices. Paddy rice consumption peaked at $X in 2021, and then contracted slightly in the following year.

Paddy Rice Production in Ghana

In value terms, paddy rice production expanded slightly to $X in 2022 estimated in export price. In general, the total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.0% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 26%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

The average yield of paddy rice in Ghana shrank modestly to X tons per ha in 2022, remaining relatively unchanged against 2021 figures. The yield figure increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2013 when the yield increased by 3.9%. Over the period under review, the average paddy rice yield attained the peak level at X tons per ha in 2021, and then declined 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 2022, the paddy rice harvested area in Ghana shrank to X ha, with a decrease of -9.3% on the previous year. Over the period under review, the total harvested area indicated buoyant growth from 2012 to 2022: its figure increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, paddy rice harvested area increased by +98.1% against 2012 indices. The growth pace was the most rapid in 2021 when the harvested area increased by 23% against the previous year. As a result, the harvested area attained the peak level of X ha, and then dropped in the following year.

Paddy Rice Exports

Exports from Ghana

In 2022, after three years of growth, there was significant decline in shipments abroad of paddy rice, when their volume decreased by -30.6% to X tons. In general, exports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2014 with an increase of 1,054%. Over the period under review, the exports hit record highs at X tons in 2021, and then shrank significantly in the following year.

In value terms, paddy rice exports shrank rapidly to $X in 2022. Overall, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 350%. Over the period under review, the exports reached the peak figure at $X in 2021, and then declined significantly in the following year.

Exports by Country

Togo (X tons) was the main destination for paddy rice exports from Ghana, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Togo totaled +101.3%.

In value terms, Togo ($X) also remains the key foreign market for paddy rice exports from Ghana.

From 2012 to 2022, the average annual rate of growth in terms of value to Togo totaled +53.1%.

Export Prices by Country

In 2022, the average paddy rice export price amounted to $X per ton, waning by -3.5% against the previous year. Over the period under review, the export price continues to indicate a precipitous curtailment. The pace of growth was the most pronounced in 2015 when the average export price increased by 9.7% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Togo.

From 2012 to 2022, the rate of growth in terms of prices for Niger amounted to -15.9% per year.

Paddy Rice Imports

Imports into Ghana

Paddy rice imports into Ghana shrank significantly to X tons in 2022, with a decrease of -37.8% compared with the previous year. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 507%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, paddy rice imports fell markedly to $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by 572% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

Cote d'Ivoire (X tons), Burkina Faso (X tons) and India (X tons) were the main suppliers of paddy rice imports to Ghana, with a combined 73% share of total imports. The United States, Niger, Saudi Arabia and Germany lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +38.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) constituted the largest supplier of paddy rice to Ghana, comprising 69% of total imports. The second position in the ranking was taken by India ($X), with a 13% share of total imports. It was followed by the United States, with a 5.4% share.

From 2012 to 2022, the average annual growth rate of value from Cote d'Ivoire totaled +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+18.2% per year) and the United States (-13.1% per year).

Import Prices by Country

The average paddy rice import price stood at $X per ton in 2022, which is down by -5.2% against the previous year. Over the period under review, the import price showed a mild downturn. The growth pace was the most rapid in 2015 an increase of 50% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a 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 Cote d'Ivoire ($X per ton), while the price for Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-5.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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