Starches market in Ghana

Earlier Report Observations

Between 2018 and 2020, Ghana's starch production grew from 250 thousand tons to 322 thousand tons, while market volume increased from 254 thousand tons to 327 thousand tons. This initial expansion was supported by government initiatives to diversify the economy into agriculture and agro-industry, which raised demand for industrial starches. The COVID-19 pandemic in 2020 disrupted supply chains, but state support programs such as CARES helped mitigate the impact on production and consumption.

A sharp surge occurred in 2021, with production jumping to 855 thousand tons and market volume reaching 864 thousand tons. This leap was primarily driven by a robust cocoa campaign and sustained mining activity, which contributed to 4.7% economic growth and boosted demand for starches in the agri-food sector.

Growth slowed in 2022 and 2023, with production reaching 888 thousand tons and market volume 894 thousand tons by 2023. High inflation, exceeding 54% in 2022, increased production costs and dampened consumer spending. However, expectations of rising poultry output due to lower raw material prices in 2023 provided support for starch demand in animal feed.

Production starches in Ghana

In kind, 2017-2020, K t

From 2017 to 2020, Ghana maintained the 30th position globally in terms of starch production volume.

Top producers of starches, 2017-2020

World map of production of starches, 2017-2020

Starch production in Ghana increased for the third consecutive year. In 2020, Ghana produced 322.4 K t of starches, marking a gradual gain of 3.8% compared to the previous year. Between 2017 and 2020, production rose by 41.1%, which translates to an annualized growth rate of 12.2%.

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

Exports starches from Ghana

Exports in kind, t

The market showed an unstable trend during this period. The minimum value was recorded in 2019 at 77 t, while the maximum occurred in 2020 with 588 t, representing a 7.6-fold variation between these years. In 2020, starch shipments from Ghana abroad amounted to 588 t, which is 660.8% higher year-over-year. The largest decline was recorded in 2019 at 46.9%.

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

Throughout 2017–2020, the United States and the United Kingdom accounted for 81.7% of total exports in kind, with the remaining share distributed among other destinations, each contributing smaller amounts.

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

Volatility characterized the market behavior during these years. The minimum value was recorded in 2019 at 31 K $ US, while the peak occurred in 2020 with 434 K $ US, showing a 14.2-fold change between these years. In 2020, Ghana exported 434 K $ US worth of starches, which is 1,321.5% stronger compared to the previous year. The largest decline was recorded in 2019 at 35.2%.

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

Throughout 2017–2020, the United States (62.9% of exports in value terms), the United Kingdom (17.0% of exports in value terms), and Belgium (5.1% of exports in value terms) formed the key group of partners for Ghana's starch exports, jointly representing 85.0% of total 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 starches to Ghana

Imports in kind, t

Starch shipments to Ghana from abroad increased for the third consecutive year. In 2020, Ghana imported a total of 5 551 t of starches, constituting a steep improvement of 31.5% compared to 2019. Over the period 2017-2020, imports grew by 45.5%, with a compound annual growth rate (CAGR) of 13.3%.

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

Throughout 2017–2020, Turkey (36.5% of imports in kind), India (17.9% of imports in kind), and Thailand (12.9% of imports in kind) remained the key sources for imports in kind, together accounting for 67.4% 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

In 2020, Ghana registered 2 445 K $ US in starch import volumes, constituting a modest rise of 7.7% compared to the previous year. The minimum value was recorded in 2019 at 2 270 K $ US, while the maximum occurred in 2018 at 2 745 K $ US. Between 2017 and 2020, imports increased by 4.4%, equating to an annualized rate of 1.5%. The largest decline was recorded in 2019 at 17.3%, and the largest increase was recorded in 2018 at 17.2%.

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

Over 2017–2020, Turkey (25.1% of imports in value terms), India (16.5% of imports in value terms), and China (12.2% of imports in value terms) were the main suppliers of starches to Ghana, together comprising 53.8% of total imports in value terms.

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

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