Coconut, palm kernel or babassu oil and fractions market in Ghana

Earlier Report Observations

From 2018 to 2019, the market volume for coconut, palm kernel or babassu oil and fractions in Ghana grew from 61 935 t to 66 939 t. This expansion was driven by a sharp increase in domestic demand for processed palm oil, which rose by nearly 49%, coupled with a 34% surge in the value of palm oil exports. The stronger export performance and rising local consumption supported overall production growth.

Market volume dipped to 63 051 t in 2020, coinciding with reported disruptions in export prices and the introduction of the EU Deforestation Regulation's cut-off date at the end of that year. This new regulation required traceability for exports to the EU, creating initial uncertainty. By 2021, the market recovered to 67 500 t as local producers began adapting their supply chains to meet the forthcoming compliance requirements.

In the following years, the market adjusted to the new regulatory environment. Volume eased to 64 328 t in 2022 and stabilized around 64 497 t in 2023, as ongoing preparations for the full implementation of the EU Deforestation Regulation continued to influence export strategies and market operations.

Production coconut, palm kernel or babassu oil and fractions in Ghana

In kind, 2017-2020, t

Between 2017 and 2020, Ghana ranked as the 15th largest global producer of coconut, palm kernel, or babassu oil and fractions.

Top producers of coconut, palm kernel or babassu oil and fractions, 2017-2020

World map of production of coconut, palm kernel or babassu oil and fractions, 2017-2020

In 2020, Ghana produced 66 300 tonnes of coconut, palm kernel, or babassu oil and fractions, showing minimal change from the previous year. Over the 2017-2020 period, production increased by 4.6%, with a compound annual growth rate of 1.5%. The highest production level was recorded in 2019 at 66 300 tonnes, which also saw the largest annual increase of 2.8%.

Annual dynamics of production in Ghana in kind, 2017-2020, t

Exports coconut, palm kernel or babassu oil and fractions from Ghana

Exports in kind, t

The data shows irregular changes, indicating a volatile market environment. Exports bottomed in 2019 at 2 178 tonnes and peaked in 2020 at 4 891 tonnes, representing a 2.2-fold difference. In 2020, Ghana exported 4 891 tonnes of coconut, palm kernel, or babassu oil and fractions, marking a 124.5% increase compared to the previous year. The largest decline occurred in 2019, falling by 46.0%.

Annual dynamics of product's exports from Ghana in kind, 2017-2020, t

From 2017 to 2020, the Netherlands (28.3% of exports in kind), Germany (14.6%), and Spain (11.5%) were the main buyers of coconut, palm kernel, or babassu oil and fractions from Ghana, together accounting for 54.3% of total exports in kind.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Ghana in kind, 2017-2020

Exports in value, K $ US

The data reveals irregular changes, pointing to a volatile market environment. Exports reached a low in 2019 at 2 089 thousand US dollars and a high in 2020 at 4 635 thousand US dollars, varying by a factor of 2.2. In 2020, the value of coconut, palm kernel, or babassu oil and fractions exported from Ghana totalled 4 635 thousand US dollars, corresponding to a 121.9% rise compared to the previous year. The largest decline was recorded in 2018, dropping by 31.8%.

Annual dynamics of product's exports from Ghana in value, 2017-2020, K $ US

Over the 2017-2020 period, the Netherlands (36.4% of exports in value terms), the United States (11.7%), and Germany (10.5%) were the primary buyers of coconut, palm kernel, or babassu oil and fractions from Ghana, jointly representing 58.6% of total exports in value terms.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Ghana in value, 2017-2020

Imports coconut, palm kernel or babassu oil and fractions to Ghana

Imports in kind, t

The data indicates irregular changes, reflecting a volatile market environment. Imports reached their lowest point in 2018 at 1 469 tonnes and their highest in 2019 at 2 817 tonnes, with a peak-to-trough ratio of 1.9 times. In 2020, foreign supplies of coconut, palm kernel, or babassu oil and fractions to Ghana amounted to 1 642 tonnes, corresponding to a steep decrease of 41.7% compared to the previous year. The largest decline occurred in 2018, falling by 45.4%, while the largest increase was recorded in 2019, rising by 91.8%.

Annual dynamics of product's imports to Ghana in kind, 2017-2020, t

During 2017-2020, the geographical pattern of imports in kind was characterised by a strong dominance of Malaysia, which accounted for 88.2% of total flows, while other partners held relatively minor shares.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Ghana in kind, 2017-2020

Imports in value, K $ US

The market exhibited an unstable trend throughout the timeframe. Imports bottomed in 2020 at 1 228 thousand US dollars and peaked in 2017, differing by 3.4 times. In 2020, the value of coconut, palm kernel, or babassu oil and fractions imported into Ghana totalled 1 228 thousand US dollars, reflecting a 51.0% loss compared to 2019. The largest increase was recorded in 2019, rising by 5.7%.

Annual dynamics of product's imports to Ghana in value, 2017-2020, K $ US

Throughout 2017-2020, Malaysia clearly dominated imports in value terms of coconut, palm kernel, or babassu oil and fractions to Ghana, taking 89.9% of total flows, whereas other countries each held significantly smaller shares.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Ghana in value, 2017-2020