Ghana: Sodium Nitrate Market 2022

Sodium Nitrate Market Size in Ghana

The Ghanian sodium nitrate market declined to $X in 2021, which is down by -X% 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, however, showed a significant expansion. Sodium nitrate consumption peaked at $X in 2020, and then declined in the following year.

Sodium Nitrate Exports

Exports from Ghana

In 2021, after three years of growth, there was significant decline in shipments abroad of sodium nitrate, when their volume decreased by -X% to X tons. In general, exports recorded a perceptible downturn. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports reached the peak of X tons, and then shrank dramatically in the following year.

In value terms, sodium nitrate exports dropped markedly to $X in 2021. Overall, exports showed a deep contraction. The growth pace was the most rapid in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Burkina Faso (X tons) was the main destination for sodium nitrate exports from Ghana, with a X% share of total exports. Moreover, sodium nitrate exports to Burkina Faso exceeded the volume sent to the second major destination, Guinea (X tons), fourfold. Mali (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual growth rate of volume to Burkina Faso totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guinea (-X% per year) and Mali (-X% per year).

In value terms, the largest markets for sodium nitrate exported from Ghana were Mali ($X), Niger ($X) and Burkina Faso ($X), together accounting for X% of total exports.

Among the main countries of destination, Niger, with a CAGR of +X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average sodium nitrate export price stood at $X per ton in 2021, with an increase of X% against the previous year. Over the period under review, the export price, however, faced a abrupt decline. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

Sodium Nitrate Imports

Imports into Ghana

In 2021, approx. X tons of sodium nitrate were imported into Ghana; shrinking by -X% on the previous year's figure. Over the period under review, imports, however, posted significant growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. Imports peaked at X tons in 2020, and then declined in the following year.

In value terms, sodium nitrate imports shrank to $X in 2021. Overall, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2015 indices. The growth pace was the most rapid in 2013 with an increase of X%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest supplier of sodium nitrate to Ghana, with a X% share of total imports. Moreover, sodium nitrate imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Belgium (X tons), more than tenfold. The third position in this ranking was held by China (X tons), with a X% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-X% per year) and China (+X% per year).

In value terms, the largest sodium nitrate suppliers to Ghana were the Netherlands ($X), Belgium ($X) and Spain ($X), with a combined X% share of total imports.

The Netherlands, with a CAGR of +X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average sodium nitrate import price amounted to $X per ton, surging by X% against the previous year. In general, the import price, however, faced a abrupt downturn. The growth pace was the most rapid in 2018 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Belgium ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform