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Ghana - Refined Groundnut Oil - Market Analysis, Forecast, Size, Trends and Insights
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Refined Groundnut Oil Market Size in Ghana
The Ghanian refined groundnut oil market totaled $X in 2023, increasing by X% against the previous year. In general, consumption saw a resilient increase. Over the period under review, the market attained the maximum level at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.
Refined Groundnut Oil Production in Ghana
In value terms, refined groundnut oil production amounted to $X in 2023 estimated in export price. Over the period under review, production enjoyed prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. Refined groundnut oil production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.
Refined Groundnut Oil Exports
Exports from Ghana
In 2023, approx. X tons of refined groundnut oil were exported from Ghana; with a decrease of X% compared with the year before. Overall, exports saw a deep setback. The most prominent rate of growth was recorded in 2015 with an increase of X%. The exports peaked at X tons in 2018; however, from 2019 to 2023, the exports remained at a lower figure.
In value terms, refined groundnut oil exports dropped to $X in 2023. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.
Exports by Country
Togo (X kg) was the main destination for refined groundnut oil exports from Ghana, accounting for a X% share of total exports. Moreover, refined groundnut oil exports to Togo exceeded the volume sent to the second major destination, the UK (X kg), more than tenfold. The third position in this ranking was taken by Cote d'Ivoire (X kg), with a X% share.
From 2012 to 2023, the average annual growth rate of volume to Togo amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Cote d'Ivoire (X% per year).
In value terms, Togo ($X) remains the key foreign market for refined groundnut oil exports from Ghana, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports. It was followed by the UK, with a X% share.
From 2012 to 2023, 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: Cote d'Ivoire (X% per year) and the UK (X% per year).
Export Prices by Country
In 2023, the average refined groundnut oil export price amounted to $X per ton, flattening at the previous year. In general, the export price posted resilient growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021; however, from 2022 to 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to the UK ($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 Togo (X%), while the prices for the other major destinations experienced a decline.
Refined Groundnut Oil Imports
Imports into Ghana
In 2023, refined groundnut oil imports into Ghana shrank sharply to X tons, falling by X% on the year before. Over the period under review, imports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2019 with an increase of X%. Imports peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.
In value terms, refined groundnut oil imports fell remarkably to $X in 2023. Overall, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. Imports peaked at $X in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.
Imports by Country
In 2023, Togo (X tons) constituted the largest supplier of refined groundnut oil to Ghana, with a X% share of total imports. Moreover, refined groundnut oil imports from Togo exceeded the figures recorded by the second-largest supplier, Cote d'Ivoire (X tons), threefold. Spain (X tons) ranked third in terms of total imports with an X% share.
From 2012 to 2023, the average annual growth rate of volume from Togo stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Spain (X% per year).
In value terms, the largest refined groundnut oil suppliers to Ghana were Cote d'Ivoire ($X), Italy ($X) and Togo ($X), with a combined X% share of total imports.
Italy, with a CAGR of X%, saw the highest rates of growth with regard to 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 2023, the average refined groundnut oil import price amounted to $X per ton, surging by X% against the previous year. In general, the import price, however, saw a pronounced decline. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2023, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the prices for the other major suppliers experienced mixed trend patterns.
Source: IndexBox Platform
This report provides an in-depth analysis of the refined groundnut oil 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 10415200 - Refined groundnut oil and its fractions (excluding chemically modified)
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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