Ghana: Rice Market 2024

Rice Market Size in Ghana

The Ghanian rice market totaled $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Rice consumption peaked in 2022 and is likely to see steady growth in years to come.

Rice Production in Ghana

In value terms, rice production totaled $X in 2022 estimated in export price. Overall, the total production indicated a notable increase 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, production increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

The average yield of rice in Ghana fell to X tons per ha in 2022, approximately mirroring 2021. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the average rice yield hit record highs at X tons per ha in 2021, and then contracted slightly 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, approx. X ha of rice were harvested in Ghana; which is down by X% on the previous year. Over the period under review, the total harvested area indicated a buoyant increase from 2012 to 2022: its figure 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, rice harvested area increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the harvested area reached the peak level of X ha, and then shrank in the following year.

Rice Exports

Exports from Ghana

In 2022, after three years of growth, there was significant decline in overseas shipments of rice, when their volume decreased by X% to X tons. In general, exports, however, saw significant growth. The growth pace was the most rapid in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, rice exports reduced notably to $X in 2022. Overall, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Togo (X tons) was the main destination for rice exports from Ghana, with a X% share of total exports. Moreover, rice exports to Togo exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Togo totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X.2% per year) and Burkina Faso (X% per year).

In value terms, Togo ($X) remains the key foreign market for rice exports from Ghana, comprising X% of total exports. The second position in the ranking was held by Burkina Faso ($X), with an X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Togo stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2022, the average rice export price amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price showed a drastic downturn. The most prominent rate of growth was recorded in 2015 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Burkina Faso ($X per ton), while the average price for exports to Togo ($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 Burkina Faso (X%), while the prices for the other major destinations experienced a decline.

Rice Imports

Imports into Ghana

In 2022, purchases abroad of rice increased by X% to X tons, rising for the fifth consecutive year after four years of decline. Over the period under review, total imports indicated a modest increase from 2012 to 2022: its volume 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 2017 indices. The pace of growth was the most pronounced in 2013 when imports increased by X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, rice imports amounted to $X in 2022. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest supplier of rice to Ghana, with a X% share of total imports. Moreover, rice imports from Vietnam exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. The third position in this ranking was held by Thailand (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Vietnam was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Thailand (X% per year).

In value terms, Vietnam ($X) constituted the largest supplier of rice to Ghana, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Vietnam was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the average rice import price amounted to $X per ton, approximately reflecting the previous year. Overall, the import price, however, recorded a mild setback. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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