Cereals; Millet Price in Ghana - 2022
Contents:
- Cereals; Millet Price in Ghana (CIF) - 2022
- Cereals; Millet Price in Ghana (FOB) - 2022
- Cereals; Millet Imports in Ghana
- Cereals; Millet Exports in Ghana
Cereals; Millet Price in Ghana (CIF) - 2022
In 2022, the average cereals; millet import price amounted to $1,853 per ton, with an increase of 9.2% against the previous year. In general, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +10.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cereals; millet import price increased by +85.4% against 2015 indices. The growth pace was the most rapid in 2013 an increase of 109% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.
As there is only one major supplying country, the average price level is determined by prices for Burkina Faso.
From 2012 to 2022, the rate of growth in terms of prices for Burkina Faso amounted to +10.8% per year.
Cereals; Millet Price in Ghana (FOB) - 2022
In 2022, the average cereals; millet export price amounted to $111 per ton, standing approx. at the previous year. In general, the export price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when the average export price decreased by -0.4%. The export price peaked at $331 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for Canada.
From 2012 to 2022, the rate of growth in terms of prices for Canada amounted to -5.3% per year.
Cereals; Millet Imports in Ghana
For the fourth consecutive year, Ghana recorded growth in supplies from abroad of cereals; millets, which increased by 8.4% to 295 tons in 2022. The total import volume increased at an average annual rate of +8.4% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, cereals; millet imports skyrocketed to $547K in 2022. In general, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +18.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.9% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by 18%. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Cereals; Millet in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Burkina Faso | 330 | 390 | 462 | 547 | 18.3% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 330 | 390 | 462 | 547 | 18.3% |
Top Suppliers of Cereals; Millet to Ghana in 2022:
- Burkina Faso (295.1 tons)
Cereals; Millet Exports in Ghana
Cereals; millet exports from Ghana expanded significantly to 120 tons in 2022, picking up by 7% on 2021 figures. The total export volume increased at an average annual rate of +7.0% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, cereals; millet exports expanded rapidly to $13K in 2022. The total export value increased at an average annual rate of +6.5% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 6.5% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.
| Export of Cereals; Millet in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 11.0 | 11.7 | 12.5 | 13.3 | 6.5% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 11.0 | 11.7 | 12.5 | 13.3 | 6.5% |
Top Export Markets for Cereals; Millet from Ghana in 2022:
- Canada (119.9 tons)
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