Ghana: Cocoa Bean Market 2024

Cocoa Bean Market Size in Ghana

In 2022, the Ghanian cocoa bean market decreased by X% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption showed a deep contraction. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Cocoa Bean Production in Ghana

In value terms, cocoa bean production rose remarkably to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

In 2022, the average cocoa bean yield in Ghana contracted significantly to X kg per ha, reducing by X% compared with the year before. In general, the yield, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the yield increased by X% against the previous year. As a result, the yield reached the peak level of X kg per ha, and then reduced dramatically in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of cocoa beans in Ghana rose rapidly to X ha, picking up by X% compared with the year before. Over the period under review, the harvested area showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, the harvested area attained the peak level of X ha. From 2021 to 2022, the growth of the cocoa bean harvested area remained at a somewhat lower figure.

Cocoa Bean Exports

Exports from Ghana

In 2022, cocoa bean exports from Ghana fell to X tons, reducing by X% on the year before. Over the period under review, total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The exports peaked at X tons in 2021, and then contracted in the following year.

In value terms, cocoa bean exports shrank to $X in 2022. Overall, total exports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) was the main destination for cocoa bean exports from Ghana, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates amounted to X%.

In value terms, the United Arab Emirates ($X) also remains the key foreign market for cocoa beans exports from Ghana.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates stood at X%.

Export Prices by Country

The average cocoa bean export price stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the export price recorded a mild shrinkage. The growth pace was the most rapid in 2015 an increase of X%. The export price peaked at $X 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 the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the UK amounted to X% per year.

Cocoa Bean Imports

Imports into Ghana

In 2022, overseas purchases of cocoa beans increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, continue to indicate a pronounced contraction. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, cocoa bean imports shrank to $X in 2022. Overall, imports, however, recorded a perceptible setback. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest supplier of cocoa bean to Ghana, accounting for a approx. X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates was relatively modest.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of cocoa beans to Ghana.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates was relatively modest.

Import Prices by Country

In 2022, the average cocoa bean import price amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to X% per year.

Source: IndexBox Platform

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