Ghana rice imports to fall by 12% in FY 2023

 

Ghana is the 13th largest rice importer in the world. It is the third most imported product by Ghana. According to the Ghana import export data reports, around 560 million dollars worth of rice imported by Ghana during the financial year 2022. Ghana's total rice import shipments were estimated around 1.4 million metric tonnes during 2022.

Whereas, the Ghana customs data of 2021 suggests that the total rice imports were totaled to be 552 million dollars. Ghana's most of the rice imports came from Vietnam. During the fiscal year 2022, Vietnam exported around 395 million dollars worth rice to Ghana. Vietnam held over 50% share of Ghana’s total rice imports.

Thailand was the second major exporter of rice to Ghana. According to the Ghana import data, over 54 million dollars rice shipments were made to Ghana. Other most prominent importers of rice to Ghana were India, China and Pakistan. 

China, Saudi Arabia and the Philippines are the major competitors for rice imports by Ghana. The latest trends in the Ghana market suggests that the country's rice imports are about to fall by 13% in FY 2023. The possible reason behind this would be the 16% growth in Ghana's milled rice production. 

It is expected to cross over 800K tonnes in 2023. That could result in the decrease in the rice imports by Ghana. Further, the rainfall forecast is expected to be positive and could result in a high yield of paddy crops.

On the other hand, the rice exports from Ghana were estimated around 218k in 2022. According to the Ghana export data of rice, Togo was the leading destination for Ghana's rice exports. The total worth for rice exports by Ghana to Togo was estimated around 131k dollars in 2022. 

Ireland, Burkina Faso, Canada and the United States were other major destinations for Ghana rice exports in FY 2021. In terms of exports, Ghana's major competitors are India, Vietnam and Thailand.

Ghana's economy depends on agriculture. Ghana's major agricultural crops are cocoa, cashew nuts, beans, ground nuts, peanuts, palm oil, maize, and cassava. It contributes around 90% share of Ghana's GDP. As per Ghana trade data reports, agricultural exports from Ghana were estimated around 3.7 billion dollars in 2020. Ghana made most of its agricultural exports to the Netherlands, Japan, Malaysia, France and the United States. Sheanut is one of the most popular export item from Ghana. Its exports volume was around 12 million dollars in 2021.

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It provides brief shipment records of potential leads from the global market by hs code, price, quantity, unit, country, port, importer and exporter names. It will help you make profitable business decisions regarding investment, pricing strategy, production quantity evaluation, competitor analysis, etc. Ghana traders can turn their fortunes with this effective market research tool, Exim Global import export data.