Ghana: Pig Fat Market 2020

Pig Fat Market Size in Ghana

The revenue of the pig fat market in Ghana amounted to $X in 2018, rising by X% against the previous year. The market value increased at an average annual rate of +X% from 2007 to 2018; the trend pattern remained relatively stable, with somewhat noticeable fluctuations over the period under review. The most prominent rate of growth was recorded in 2008 with an increase of X% year-to-year. Over the period under review, the pig fat market attained its maximum level at $X in 2012; however, from 2013 to 2018, consumption failed to regain its momentum.

Pig Fat Production in Ghana

In value terms, pig fat production totaled $X in 2018 estimated in export prices. Over the period under review, pig fat production continues to indicate a relatively flat trend pattern. Over the period under review, pig fat production attained its maximum level at $X in 2011; however, from 2012 to 2018, production failed to regain its momentum.

Pig Fat Exports

Exports by Country

In 2018, Germany (X tons) and the U.S. (X tons) represented the largest exporters of pig fatin the world, together finishing at near X% of total exports. It was distantly followed by Spain (X tons), Poland (X tons), Canada (X tons), the Netherlands (X tons), Belgium (X tons) and Italy (X tons), together generating a X% share of total exports. The following exporters - Chile (X tons), Denmark (X tons), France (X tons) and Austria (X tons) - together made up X% of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Poland, while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest pig fat markets from Ghana were the U.S. ($X), Germany ($X) and Canada ($X), with a combined X% share of total exports. These countries were followed by Spain, the Netherlands, Italy, Poland, Chile, Belgium, France, Denmark and Austria, which together accounted for a further X experienced the highest rates of growth with regard to market size, in terms of the main exporting countries over the period under review, while exports for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the pig fat export price in Ghana amounted to $X per ton, standing approx. at the previous year. Over the period under review, the pig fat export price continues to indicate a relatively flat trend pattern. Over the period under review, the export prices for pig fat attained their maximum at $X per ton in 2011; however, from 2012 to 2018, export prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Chile ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Chile, while the other leaders experienced more modest paces of growth.

Pig Fat Imports

Imports into Ghana

Pig fat imports into Ghana amounted to X tons in 2018, dropping by -X% against the previous year. Overall, pig fat imports continue to indicate a drastic reduction. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Over the period under review, pig fat imports reached their maximum at X tons in 2007; however, from 2008 to 2018, imports remained at a lower figure.

In value terms, pig fat imports totaled $X in 2018. In general, pig fat imports continue to indicate a drastic contraction. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, pig fat imports reached their maximum at $X in 2007; however, from 2008 to 2018, imports failed to regain their momentum.

Imports by Country

Russia was the main importer of pig fat imported in the world, with the volume of imports recording X tons, which was approx. X% of total imports in 2018. Mexico (X tons) ranks second in terms of the total imports with a X% share, followed by the Netherlands (X%), the Philippines (X%) and Ukraine (X%). The following importers - Japan (X tons), Germany (X tons), France (X tons), the Czech Republic (X tons), Belgium (X tons), Italy (X tons) and South Korea (X tons) - together made up X% of total imports.

Russia experienced a relatively flat trend pattern of pig fat imports. At the same time, South Korea (+X%), Italy (+X%), the Philippines (+X%), Japan (+X%), the Czech Republic (+X%), Mexico (+X%), Ukraine (+X%) and Belgium (+X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in the world, with a CAGR of +X% from 2007-2018. The Netherlands experienced a relatively flat trend pattern. By contrast, Germany (-X%) and France (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of Mexico, the Philippines, Ukraine, Russia, Japan, South Korea and Italy increased by +X%, +X%, +X%, +X%, +X%, +X% and +X% percentage points, while France (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported pig fat into Ghana, comprising X% of global imports. The second position in the ranking was occupied by Japan ($X), with a X% share of global imports. It was followed by the Philippines, with a X% share.

In Russia, pig fat imports expanded at an average annual rate of +X% over the period from 2007-2018. In the other countries, the average annual rates were as follows: Japan (+X% per year) and the Philippines (+X% per year).

Import Prices by Country

In 2018, the pig fat import price in Ghana amounted to $X per ton, coming down by -X% against the previous year. Overall, the pig fat import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. Over the period under review, the import prices for pig fat reached their peak figure at $X per ton in 2013; however, from 2014 to 2018, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Russia ($X per ton), while Italy ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Russia, while the other leaders experienced more modest paces of growth.

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Source: IndexBox Platform