Report Update Apr 6, 2024

Ghana - Vegetable Fats and Oils - Market Analysis, Forecast, Size, Trends and Insights

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Ghana: Vegetable Oils Market 2024

Vegetable Oils Market Size in Ghana

The Ghanian vegetable oils market was finally on the rise to reach $X in 2023, after three years of decline. Over the period under review, consumption, however, showed a abrupt downturn. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2023, consumption failed to regain momentum.

Vegetable Oils Production in Ghana

In value terms, vegetable oils production reduced to $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2019 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2023, production remained at a lower figure.

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Vegetable Oils Exports

Exports from Ghana

In 2023, approx. X tons of vegetable fats and oils were exported from Ghana; rising by X% against the previous year's figure. In general, exports, however, continue to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

In value terms, vegetable oils exports shrank to $X in 2023. Over the period under review, exports, however, recorded a perceptible slump. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Burkina Faso (X tons), Benin (X tons) and the UK (X tons) were the main destinations of vegetable oils exports from Ghana, together comprising X% of total exports. Canada, Brazil and Nigeria lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Canada (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vegetable oils exported from Ghana were Benin ($X), Burkina Faso ($X) and Canada ($X), with a combined X% share of total exports.

Canada, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average vegetable oils export price stood at $X per ton in 2023, with a decrease of X% against the previous year. Overall, the export price saw a mild reduction. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while the average price for exports to Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Oils Imports

Imports into Ghana

In 2023, supplies from abroad of vegetable fats and oils increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a pronounced reduction. Imports peaked at X tons in 2014; however, from 2015 to 2023, imports remained at a lower figure.

In value terms, vegetable oils imports surged to $X in 2023. Overall, imports, however, showed a perceptible descent. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Indonesia (X tons), Turkey (X tons) and Singapore (X tons) were the main suppliers of vegetable oils imports to Ghana, with a combined X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Turkey (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vegetable oils suppliers to Ghana were Indonesia ($X), Turkey ($X) and Singapore ($X), together comprising X% of total imports.

In terms of the main suppliers, Turkey, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average vegetable oils import price stood at $X per ton in 2023, which is down by X% against the previous year. In general, the import price, however, saw slight growth. The pace of growth was the most pronounced in 2022 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton, and then dropped dramatically in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

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This report provides an in-depth analysis of the vegetable oils market in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10416050 - Vegetable fats and oils and their fractions partly or wholly hydrogenated, inter-esterified, re-esterified or elaidinised, but not further prepared (including refined)

Country coverage:

Ghana

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ghana
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023