Palm-kernel oilcake market in Ghana

Earlier Report Observations

From 2018 to 2023, the palm-kernel oilcake market in Ghana showed considerable volatility, starting at 66 550 metric tons in 2018 and reaching 70 822 metric tons in 2023. Production steadily increased from 69 600 metric tons to 75 000 metric tons over the same period, providing the foundation for domestic supply.

The sharp contraction of the market to 51 732 metric tons in 2020 coincided with a surge in exports to 20 268 metric tons, which diverted a significant portion of production away from domestic consumption. In the following years, exports normalized, allowing the market to recover to above 69 000 metric tons despite minimal imports.

By 2023, the market achieved a new high of 70 822 metric tons, supported by consistent production growth while exports stabilized around 4 000 metric tons.

Production palm-kernel oilcake in Ghana

In kind, 2017-2020, t

On a global scale, Ghana ranked as the 10th largest producer of palm-kernel oilcake from 2017 to 2020.

Top producers of palm-kernel oilcake, 2017-2020

World map of production of palm-kernel oilcake, 2017-2020

Palm-kernel oilcake production in Ghana increased for the third consecutive year. In 2020, Ghana produced 72 000 tonnes of palm-kernel oilcake, representing a slight rise of 0.6% compared to the previous year. Between 2017 and 2020, production grew by 12%, which translates to an annualized growth rate of 3.8%.

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

Exports palm-kernel oilcake from Ghana

Exports in kind, t

The market performance showed noticeable fluctuations during this period. The lowest exports were recorded in 2018, while the highest were in 2020, with a 6.4-fold difference between these years. In 2020, Ghana's cross-border shipments of palm-kernel oilcake amounted to 20 268 tonnes, reflecting a sharp increase of 214.9% compared to the previous year. The minimum volume was 3 170 tonnes in 2018, which also saw the largest decline of 68.3%.

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

From 2017 to 2020, the main buyers of palm-kernel oilcake from Ghana were Italy, Turkey, and Côte d'Ivoire, accounting for 39.4%, 30.8%, and 14.6% of exports in kind, respectively. Together, these three countries formed 84.8% of Ghana's 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 market performance exhibited noticeable fluctuations during this period. Exports reached their lowest point in 2018 and peaked in 2020, with a 6.1-fold variation between these years. In 2020, Ghana's palm-kernel oilcake exports were valued at 2 242 thousand US dollars, indicating a rise of 261.0% compared to 2019. The minimum value was 370 thousand US dollars in 2018, which also recorded the largest decline of 44.5%.

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

From 2017 to 2020, the main destinations for Ghana's palm-kernel oilcake exports in value terms were Italy, Turkey, and South Africa, with shares of 42.5%, 31.8%, and 18.9%, respectively. Collectively, these three countries accounted for 93.1% of total export flows.

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

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

Imports palm-kernel oilcake to Ghana

Imports in kind, t

Ghana's palm-kernel oilcake import volume declined for the second consecutive year. In 2020, Ghana imported 0.3 tonnes of palm-kernel oilcake, corresponding to a contraction of 90.0% year-over-year. Between 2018 and 2020, imports decreased by 99.7%, equating to an annualized decline rate of 86.1%.

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

Over the period from 2017 to 2020, imports in kind of palm-kernel oilcake to Ghana were almost entirely tied to Togo, which accounted for 97.1% of total flows.

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 data reveals irregular changes, indicating a volatile market environment. Imports hit their lowest point in 2019 and peaked in 2018, with a 78-fold difference between these years. In 2020, Ghana's palm-kernel oilcake import volumes amounted to 0.3 thousand US dollars, representing an increase of 154.7% from the previous year. The minimum value was 0.1 thousand US dollars in 2019, which also saw the largest decline of 98.7%.

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

Throughout 2017 to 2020, Togo dominated the country structure of imports in value terms, with a share of 95.7% of total flows.

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

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