Price for Flours and Meals; of Soya Beans in Ghana - 2023

Contents:

1. Price for Flours and Meals; of Soya Beans in Ghana (CIF) - 2022
2. Price for Flours and Meals; of Soya Beans in Ghana (FOB) - 2023
3. Imports of Flours and Meals; of Soya Beans in Ghana
4. Exports of Flours and Meals; of Soya Beans in Ghana

Price for Flours and Meals; of Soya Beans in Ghana (CIF) - 2022

The average import price for flours and meals; of soya beanses stood at $407 per ton in 2022, which is down by -7% against the previous year. Over the period under review, the import price saw a noticeable contraction. The most prominent rate of growth was recorded in 2021 when the average import price increased by 18% against the previous year. Over the period under review, average import prices reached the maximum at $668 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($1,390 per ton), while the price for China ($147 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+9.8%), while the prices for the other major suppliers experienced a decline.

Price for Flours and Meals; of Soya Beans in Ghana (FOB) - 2023

The average export price for flours and meals; of soya beanses stood at $462 per ton in December 2023, waning by -12% against the previous month. In general, the export price, however, showed a measured expansion. The growth pace was the most rapid in July 2023 an increase of 82% against the previous month. As a result, the export price reached the peak level of $890 per ton. From August 2023 to December 2023, the the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In December 2023, the country with the highest price was the United States ($489 per ton), while the average price for exports to the Netherlands amounted to $400 per ton.

From January 2023 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+1.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Flours and Meals; of Soya Beans in Ghana

In 2022, after three years of growth, there was significant decline in purchases abroad of flours and meals; of soya beanses, when their volume decreased by -8% to 11K tons. Overall, total imports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +13.4% 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 +46.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 33%.

In value terms, imports of flours and meals; of soya beanses contracted to $4.5M in 2022. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +14.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +48.6% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 41% against the previous year. As a result, imports reached the peak of $5.2M, and then fell in the following year.

Top Suppliers of Flours and Meals; of Soya Beans to Ghana in 2022:

1. United States (9.3K tons)
2. Netherlands (1.2K tons)
3. Belgium (0.3K tons)
4. China (0.2K tons)

Exports of Flours and Meals; of Soya Beans in Ghana

In 2022, approx. 38 tons of flours and meals; of soya beanses were exported from Ghana; which is down by -47.7% against the previous year. In general, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2021 when exports increased by 50%. As a result, the exports attained the peak of 72 tons, and then reduced notably in the following year.

In value terms, exports of flours and meals; of soya beanses expanded to $10K in 2022. Overall, exports showed a noticeable contraction.

Top Export Markets for Flours and Meals; of Soya Beans from Ghana in 2022:

1. Cote d'Ivoire (18.8 tons)
2. Burkina Faso (10.8 tons)
3. United States (5.5 tons)
4. United Kingdom (2.2 tons)

Source: IndexBox Market Intelligence Platform