Market research

Groundnut oil and fractions market in Ghana

$Groundnut oil and fractions market in Ghana$

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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Earlier Report Observations

Groundnut oil production in Ghana dropped from 70 218 t in 2018 to a low of 46 746 t in 2020. This decline coincided with a broader economic slowdown as the country's oil production fell from 2019 onward, reducing overall economic activity and likely affecting agricultural output. The market rebounded sharply in 2021, with production jumping to 67 500 t, driven by an 85% surge in export prices for Ghanaian groundnut oil that made cultivation and processing more profitable.

Growth continued in 2022, reaching 78 753 t, but then nearly stabilized in 2023 at 80 468 t. This levelling off occurred alongside persistently low import and export prices and flat domestic consumption, which limited further expansion. Throughout the period, the market operated under strict labeling regulations that require all vegetable oils to clearly state their botanical source and country of origin, and faced challenges such as adulteration with cheaper palm oil, affecting product quality and competitiveness.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Ghana
  1. 5.1.1. Annual dynamics of production in Ghana in kind, 2018-2023, t
  2. 5.1.2. Annual dynamics of production in Ghana in value, 2018-2023, $ US
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Exports
1. 6.1. Exports (Direct Data*)
  1. 6.1.1. Exports - Total information
  2. 6.1.2. Exports in kind, kg
    1. 6.1.2.1. Annual dynamics of product's exports from Ghana in kind, 2018-2024, kg
    2. 6.1.2.2. Dynamics of product's exports in kind from Ghana by countries, 2018-2024, kg
    3. 6.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.1.3. Exports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's exports from Ghana in value, 2018-2024, K $ US
    2. 6.1.3.2. Dynamics of product's exports in value from Ghana by countries, 2018-2024, K $ US
    3. 6.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's exports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's exports from Ghana, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's exports from Ghana by countries, 2018-2024, $ US/t
2. 6.2. Exports (Mirror Data)
  1. 6.2.1. Exports - Total information
  2. 6.2.2. Exports in kind, kg
    1. 6.2.2.1. Annual dynamics of product's exports from Ghana in kind, 2018-2024, kg
    2. 6.2.2.2. Dynamics of product's exports in kind from Ghana by countries, 2018-2024, kg
    3. 6.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.2.3. Exports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's exports from Ghana in value, 2018-2024, K $ US
    2. 6.2.3.2. Dynamics of product's exports in value from Ghana by countries, 2018-2024, K $ US
    3. 6.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's exports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's exports from Ghana, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's exports from Ghana by countries, 2018-2024, $ US/t
7. Imports
1. 7.1. Imports (Direct Data*)
  1. 7.1.1. Imports - Total information
  2. 7.1.2. Imports in kind, kg
    1. 7.1.2.1. Annual dynamics of product's imports to Ghana in kind, 2018-2024, kg
    2. 7.1.2.2. Dynamics of product's imports in kind to Ghana by countries, 2018-2024, kg
    3. 7.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.1.3. Imports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's imports to Ghana in value, 2018-2024, K $ US
    2. 7.1.3.2. Dynamics of product's imports in value to Ghana by countries, 2018-2024, K $ US
    3. 7.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's imports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's imports to Ghana, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's imports to Ghana by countries, 2018-2024, $ US/t
2. 7.2. Imports (Mirror Data)
  1. 7.2.1. Imports - Total information
  2. 7.2.2. Imports in kind, kg
    1. 7.2.2.1. Annual dynamics of product's imports to Ghana in kind, 2018-2024, kg
    2. 7.2.2.2. Dynamics of product's imports in kind to Ghana by countries, 2018-2024, kg
    3. 7.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.2.3. Imports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's imports to Ghana in value, 2018-2024, K $ US
    2. 7.2.3.2. Dynamics of product's imports in value to Ghana by countries, 2018-2024, K $ US
    3. 7.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's imports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's imports to Ghana, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's imports to Ghana by countries, 2018-2024, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, kg
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, kg
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production groundnut oil and fractions in Ghana

In kind, 2017-2020, t

From 2017 to 2020, Ghana ranked 14th globally in terms of groundnut oil and fractions production volume.

Top producers of groundnut oil and fractions, 2017-2020

Source: SHEV.io

World map of production of groundnut oil and fractions, 2017-2020

Source: SHEV.io

Ghana's production of groundnut oil and fractions declined for the second consecutive year. In 2020, the country produced 46 746 tonnes, marking a 25.0% decrease from the previous year. Over the 2017-2020 period, production fell by 19.7%, with a compound annual growth rate (CAGR) of -7.1%. The highest production level was recorded in 2018 at 70 218 tonnes, which also saw the largest annual increase of 20.6%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	20.6%	(11.2%)	(25.0%)	(7.1%)

Source: SHEV.io

Exports groundnut oil and fractions from Ghana

Exports in kind, t

Ghana's exports of groundnut oil and fractions declined for the third consecutive year. In 2020, export volume totaled just 1 tonne, representing a sharp year-over-year drop of 91.5%. Over the 2017-2020 period, exports plummeted by 99.9%, with a CAGR of -91.6%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(96.7%)	(78.6%)	(91.5%)	(91.6%)

Source: SHEV.io

From 2017 to 2020, Vietnam dominated Ghana's export structure in volume terms, accounting for 95.6% of total flows.

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, K $ US

Ghana's foreign supplies of groundnut oil and fractions declined for the third consecutive year. In 2020, exports amounted to 0.5 thousand US dollars, reflecting a steep 90.4% decrease compared to the previous year. Over the 2017-2020 period, exports fell by 100%, with a CAGR of -93.3%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(99.5%)	(44.2%)	(90.4%)	(93.3%)

Source: SHEV.io

Between 2017 and 2020, Ghana's export dependence on Vietnam was pronounced, with this market representing 98.9% of total export value for groundnut oil and fractions.

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

Source: SHEV.io

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

Source: SHEV.io

Imports groundnut oil and fractions to Ghana

Imports in kind, t

Ghana's imports of groundnut oil and fractions declined for the third consecutive year. In 2020, imports amounted to 3 tonnes, down 94.7% from 2019. Over the 2017-2020 period, imports decreased by 96.4%, with a CAGR of -67.0%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(20.6%)	(15.0%)	(94.7%)	(67.0%)

Source: SHEV.io

From 2017 to 2020, the United States (35.9% of import volume), the United Arab Emirates (23.5%), and Canada (20.0%) formed the main group of sources for Ghana's groundnut oil and fractions imports, together accounting for 79.4% of total flows.

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

Source: SHEV.io

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

Source: SHEV.io

Imports in value, K $ US

The data shows irregular changes, indicating a volatile market environment. From 2017 to 2020, imports peaked in 2019 and reached their lowest point in 2020, with an 8.7-fold difference between these years. In 2020, Ghana imported 4 thousand US dollars worth of groundnut oil and fractions, a steep 88.2% decline from the previous year. The largest increase occurred in 2019, at 55.4%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(37.6%)	55.4%	(88.2%)	(51.4%)

Source: SHEV.io

Between 2017 and 2020, Canada (34.4% of import value), the United States (19.2%), and the United Arab Emirates (15.1%) led the ranking of suppliers to Ghana, with their combined share reaching 68.7% of total import value.

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

Source: SHEV.io

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

Source: SHEV.io