Prepared or preserved groundnuts market in Ghana

Earlier Report Observations

The market for prepared or preserved groundnuts in Ghana experienced significant fluctuations between 2018 and 2023. Volume peaked at 6.4 thousand t in 2019, then fell sharply to 2.9 thousand t in 2020 before recovering to 4.9 thousand t by 2023, resulting in overall growth of 23% over the period.

The 2019 surge was primarily due to a jump in imports to 3.6 thousand t, which compensated for lower domestic production. The subsequent drop in 2020 coincided with a collapse in imports to 537 t. From 2021, steady increases in domestic production, rising from 3.6 thousand t to 4.3 thousand t, drove the market's recovery despite variable import levels.

In 2024, trade data shows a sharp decline in imports to 29 t and a rise in exports to 223 t. Ghana's agricultural sector faced challenges with surplus production and market absorption issues, while government support programs for staple crops and overall export growth may have indirectly influenced the groundnut market.

Production prepared or preserved groundnuts in Ghana

In kind, 2017-2020, t

Between 2017 and 2020, Ghana ranked 30th globally in the production of prepared or preserved groundnuts.

Top producers of prepared or preserved groundnuts, 2017-2020

World map of production of prepared or preserved groundnuts, 2017-2020

Ghana's production of prepared or preserved groundnuts declined for the second year in a row. In 2020, the country produced 2 511 tonnes, marking a 25.0% decrease from 2019. Over the 2017-2020 period, production fell by 19.7%, with a compound annual growth rate of -7.1%. The highest output was recorded in 2018 at 3 771 tonnes, which also saw the largest annual increase of 20.6%.

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

Exports prepared or preserved groundnuts from Ghana

Exports in kind, t

Ghana's exports of prepared or preserved groundnuts dropped for the third consecutive year. In 2020, the country exported 115 tonnes, a sharp 76.0% decline from 2019. From 2017 to 2020, exports plummeted by 95.3%, equivalent to an annualized rate of -64.0%.

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

From 2017 to 2020, Nigeria and Vietnam were the two leading markets, together accounting for 84.7% of Ghana's total exports by volume. The remaining exports were distributed among various other countries.

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 value of Ghana's prepared or preserved groundnuts exports fell for the third year running. In 2020, exports totaled 120 thousand US dollars, an 85.0% contraction compared to the previous year. Between 2017 and 2020, export value decreased by 97.9%, translating to an annualized rate of -72.5%.

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

During 2017-2020, Vietnam and Nigeria remained the primary markets for Ghana's exports by value, jointly representing 95.1% of total flows. Other partners accounted for the rest.

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

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

Imports prepared or preserved groundnuts to Ghana

Imports in kind, t

Import volumes of prepared or preserved groundnuts into Ghana showed significant volatility during this period. In 2019, imports peaked at 3 577 tonnes, with the largest annual increase of 325.0%. By 2020, imports dropped to 537 tonnes, an 85.0% year-over-year decline, resulting in a 6.7-fold difference between the peak in 2019 and the trough in 2020.

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

From 2017 to 2020, Niger (49.7% of import volume), Burkina Faso (29.1%), and Argentina (9.7%) were the key sources for Ghana's imports of prepared or preserved groundnuts by volume, together making up 88.4% 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 value of Ghana's imports of prepared or preserved groundnuts exhibited volatility from 2017 to 2020. In 2018, imports hit a low of 226 thousand US dollars, with the largest annual decline of 48.4%. In 2019, they surged by 199.1%, and by 2020, imports reached 871 thousand US dollars, a 29.0% increase from the previous year. This created a 3.9-fold variation between the minimum in 2018 and the maximum in 2020.

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

Between 2017 and 2020, Argentina (37.5% of import value), the United States (20.7%), and Niger (15.6%) consistently served as the main sources for Ghana's imports by value, collectively accounting for 73.7% 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