Price for Spices; Mixtures of 2 or More Products of the Same Heading in Ghana - 2022
Contents:
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Ghana (CIF) - 2022
- Price for Spices; Mixtures of 2 or More Products of the Same Heading in Ghana (FOB) - 2022
- Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Ghana
- Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Ghana
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Ghana (CIF) - 2022
The average import price for spices; mixtures of 2 or more products of the same heading stood at $3,462 per ton in 2022, with an increase of 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2015 when the average import price increased by 34% against the previous year. Over the period under review, average import prices hit record highs at $3,528 per ton in 2018; afterwards, it flattened through to 2022.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($4,663 per ton), while the price for India ($1,146 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Spices; Mixtures of 2 or More Products of the Same Heading in Ghana (FOB) - 2022
In 2022, the average export price for spices; mixtures of 2 or more products of the same heading amounted to $1,728 per ton, with a decrease of -4.9% against the previous year. Overall, the export price showed a pronounced descent. The most prominent rate of growth was recorded in 2014 an increase of 59%. Over the period under review, the average export prices reached the peak figure at $2,735 per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($5,199 per ton), while the average price for exports to South Africa ($111 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+7.1%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Spices; Mixtures of 2 or More Products of the Same Heading in Ghana
For the fourth consecutive year, Ghana recorded growth in supplies from abroad of spices; mixtures of 2 or more products of the same heading, which increased by 8.6% to 713 tons in 2022. The total import volume increased at an average annual rate of +6.0% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of spices; mixtures of 2 or more products of the same heading skyrocketed to $2.5M in 2022. The total import value increased at an average annual rate of +15.2% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 28% against the previous year. Over the period under review, imports of spices; mixtures of 2 or more products of same heading reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.
| Import of Spices; Mixtures of 2 or More Products of the Same Heading in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,180 | 1,213 | 1,223 | 1,789 | 14.9% |
| United Arab Emirates | 147 | 168 | 369 | 298 | 26.6% |
| Turkey | 111 | 476 | 145 | 112 | 0.3% |
| United Kingdom | 4.6 | 99.9 | 155 | 105 | 183.7% |
| South Africa | 18.6 | 33.0 | 32.0 | 48.6 | 37.7% |
| India | 68.3 | 39.4 | 40.4 | 27.8 | -25.9% |
| Others | 83.4 | 42.0 | 67.8 | 89.2 | 2.3% |
| Total | 1,613 | 2,072 | 2,032 | 2,469 | 15.2% |
Top Suppliers of Spices; Mixtures of 2 or More Products of the Same Heading to Ghana in 2022:
- United States (383.6 tons)
- United Arab Emirates (204.1 tons)
- Turkey (48.3 tons)
- United Kingdom (25.0 tons)
- India (24.3 tons)
- South Africa (15.7 tons)
Exports of Spices; Mixtures of 2 or More Products of the Same Heading in Ghana
After three years of growth, shipments abroad of spices; mixtures of 2 or more products of the same heading decreased by -44.5% to 197 tons in 2022. Over the period under review, exports, however, saw significant growth. The growth pace was the most rapid in 2020 when exports increased by 250%.
In value terms, exports of spices; mixtures of 2 or more products of the same heading dropped markedly to $341K in 2022. In general, exports, however, continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 74%.
| Export of Spices; Mixtures of 2 or More Products of the Same Heading in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 7.6 | 86.1 | 207 | 92.1 | 129.7% |
| United States | 23.4 | 242 | 285 | 85.0 | 53.7% |
| Canada | 43.5 | 64.2 | 28.6 | 42.9 | -0.5% |
| Vietnam | N/A | N/A | N/A | 24.7 | 0% |
| Netherlands | 1.0 | 15.0 | 43.2 | 14.9 | 146.1% |
| South Africa | 0.7 | 1.4 | 1.4 | 4.5 | 85.9% |
| Burkina Faso | N/A | 0.1 | 0.4 | 0.9 | 200.0% |
| Philippines | 68.3 | N/A | N/A | N/A | 0% |
| Others | 122 | 55.9 | 80.8 | 75.9 | -14.6% |
| Total | 267 | 465 | 647 | 341 | 8.5% |
Top Export Markets for Spices; Mixtures of 2 or More Products of the Same Heading from Ghana in 2022:
- United States (60.2 tons)
- United Kingdom (43.1 tons)
- South Africa (40.4 tons)
- Canada (17.5 tons)
- Burkina Faso (6.2 tons)
- Vietnam (5.0 tons)
- Netherlands (2.9 tons)
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