Ghana: Potassium Chloride (Mop) Market 2023

Potassium Chloride (Mop) Market Size in Ghana

The Ghanian potassium chloride (MOP) market shrank rapidly to $X in 2021, reducing by -72.6% 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). Overall, consumption showed a slight decline. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Potassium Chloride (Mop) Exports

Exports from Ghana

In 2021, approx. X tons of potassium chloride (MOP) were exported from Ghana; waning by -48.4% against the previous year's figure. In general, exports, however, posted resilient growth. The pace of growth was the most pronounced in 2020 with an increase of 1,019%. As a result, the exports attained the peak of X tons, and then declined markedly in the following year.

In value terms, potassium chloride (MOP) exports contracted to $X in 2021. Over the period under review, exports, however, recorded a temperate increase. The growth pace was the most rapid in 2020 with an increase of 652% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Burkina Faso (X tons), Congo (X tons) and Togo (X tons) were the main destinations of potassium chloride (MOP) exports from Ghana, together accounting for 97% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Burkina Faso (with a CAGR of +21.1%), while the other leaders experienced mixed trend patterns.

In value terms, Congo ($X) remains the key foreign market for potassium chloride (MOP) exports from Ghana, comprising 78% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a 9.5% share of total exports. It was followed by Angola, with a 9.4% share.

From 2012 to 2021, the average annual growth rate of value to Congo totaled +25.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (+26.4% per year) and Angola (+128.5% per year).

Export Prices by Country

The average potassium chloride (MOP) export price stood at $X per ton in 2021, picking up by 77% against the previous year. Overall, the export price, however, continues to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2018 an increase of 142% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Angola ($X per ton), while the average price for exports to Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Angola (+352.0%), while the prices for the other major destinations experienced more modest paces of growth.

Potassium Chloride (Mop) Imports

Imports into Ghana

In 2021, purchases abroad of potassium chloride (MOP) decreased by -66.3% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 837% against the previous year. Over the period under review, imports hit record highs at X tons in 2020, and then shrank notably in the following year.

In value terms, potassium chloride (MOP) imports contracted remarkably to $X in 2021. In general, imports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2019 with an increase of 738% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Germany (X tons), Belarus (X tons) and Lithuania (X tons) were the main suppliers of potassium chloride (MOP) imports to Ghana, with a combined 77% share of total imports. These countries were followed by Canada and Russia, which together accounted for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of +136.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belarus ($X) and Lithuania ($X) constituted the largest potassium chloride (MOP) suppliers to Ghana, with a combined 77% share of total imports. These countries were followed by Canada and Russia, which together accounted for a further 22%.

Canada, with a CAGR of +74.6%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average potassium chloride (MOP) import price amounted to $X per ton, reducing by -31.5% against the previous year. Overall, the import price showed a deep reduction. The growth pace was the most rapid in 2016 an increase of 14%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (-9.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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