Home | Goldstreet Business
Thursday, January 21, 2021
  • Home
  • General News
    • Extractives
    • Auto
  • Business
    • Banking and Finance
    • AgriBusiness
    • Insurance
    • Mining
    • Oil and Gas
    • Real Estate/Housing
  • News
    • Top Stories
    • Agriculture
    • Maritime/Aviation
    • Energy
    • Education
    • Construction
  • Technology
    • ICT
    • Telecom
  • World
    • Africa
    • International
  • Editorial/Features
  • GSB Data Services
No Result
View All Result
  • Home
  • General News
    • Extractives
    • Auto
  • Business
    • Banking and Finance
    • AgriBusiness
    • Insurance
    • Mining
    • Oil and Gas
    • Real Estate/Housing
  • News
    • Top Stories
    • Agriculture
    • Maritime/Aviation
    • Energy
    • Education
    • Construction
  • Technology
    • ICT
    • Telecom
  • World
    • Africa
    • International
  • Editorial/Features
  • GSB Data Services
No Result
View All Result
Gold Business Logo
No Result
View All Result
Home Business AgriBusiness

Ghana’s oil palm industry identifies huge export prospects in ECOWAS market

May 9, 2020
in AgriBusiness, Agriculture, Business, News, Top Stories
0
Share on FacebookShare on Twitter

A Competitor Analysis report released by the Ghana Export Promotion Authority (GEPA) on the potential markets for oil palm derivatives (olein) in the ECOWAS sub-region points to potential for significant market share for Ghana’s palm oil thus indicating major export trade opportunities.

Importantly, the data suggests that instead of looking for market opportunities that are far away which would incur significant transportation cost and import tariffs, Ghanaian oil palm exporters should look inward to the ECOWAS sub-region, where transportation costs are lower, Ghanaian exports are zero tariff rated and consequently Ghana’s exporters can be most cost competitive.

RELATED POSTS

Cedi will be fairly stable in 2021 – BoG

Calls for stimulus packages for local businesses involved in AfCFTA – GNCCI

With the operationalization of the Africa Continental Free Trade Area (AfCFTA) expected to begin in July 2020, GEPA is advising Ghana’s oil palm exporters to seriously focus attention on African markets such as Angola and Egypt over other emerging markets outside the continent.

In 2018 for instance, Angola imported US$141.48 million worth of oil palm products and Egypt US$685.28 million. However, Ghana’s market share of the product in these two African countries was zero percent.

Some other notable importers of palm oil from Ghana last year included Burkina Faso (US$3.94m), Cote d’Ivoire (US$2.61m), Nigeria (US$978,000), UK (US$934,000), USA (US$795,000) and Netherlands (US$205,000). The top five importing countries, comprising Senegal, Burkina Faso, Cote d’Ivoire, Nigeria and UK, accounted for about 96 percent of total value of exports of palm oil products from Ghana.

However, easily the single biggest target market for Ghana’s oil palm is Senegal. The Authority asserts that the high demand for palm oil derivatives in Senegal makes the country a prime target for Ghanaian exporters to significantly increase local production volumes in order to increase Ghana’s exports of the product.

This has become all the more imperative as Ghana, after significantly increasing its export of the product to Senegal in 2016 and 2017, recorded a huge drop in the 2018.

In 2018, Senegal imported US$27.65 million of the product from Ghana as compared to US$51.13 million in 2017 and US$41.37 million in 2016. This huge drop from 2017 to 2018 represents a decrease of 45.9 percent.

According to GEPA, the drop reflects a sub region wide decline in exports to the ECOWAS bloc. The report indicates that despite the blip, Ghana still remains the second largest supplier of the product to the Senegalese market after Malaysia.

In fact, in 2018, Senegal’s importation of palm oil amounted to US$103.93 million with Ghana having a market share of 26.6 percent. Despite the cost of transportation and lack of proximity, Malaysia emerged as the largest supplier in the Senegalese market with an estimated export value of US$40.29 million and market share of 38.8 percent.

What this implies is that the Senegalese market alone has the potential to absorb more than what Ghana currently exports worldwide. Overall, Ghana’s exports of palm oil in 2018 amounted to US$71.3 million as against US$84.24 million in 2017.

60

SHARES
facebook Share on Facebook
Twitter Tweet
Follow Follow us
custom Share
custom Share
custom Share
custom Share
custom Share
Source: By Dundas Whigham
ShareTweetShare

Related Posts

REPO trading goes online

Cedi will be fairly stable in 2021 – BoG

January 21, 2021
Calls for stimulus packages for local businesses involved in AfCFTA – GNCCI

Calls for stimulus packages for local businesses involved in AfCFTA – GNCCI

January 21, 2021
Construction Chamber urges Akufo-Addo to Sign Real Estate Authority Bill into law

Construction Chamber urges Akufo-Addo to Sign Real Estate Authority Bill into law

January 21, 2021
Ghana’s petroleum sector recorded -4% PPI in December 2020

Ghana’s petroleum sector recorded -4% PPI in December 2020

January 21, 2021
Oil rises on expectations of ‘Big’ U.S. stimulus package

Oil rises on expectations of ‘Big’ U.S. stimulus package

January 21, 2021
Next Post

2020 budget requires a juggling act

GNPC assesses Voltaian Basin 2D data

Discussion about this post

Archives

<
January 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
▼
>
MonTueWedThuFriSatSun
    123
45678910
11121314151617
18192021222324
25262728293031
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       
 123456
78910111213
14151617181920
21222324252627
282930    
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
1234567
891011121314
15161718192021
22232425262728
2930     
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
  12345
6789101112
13141516171819
20212223242526
27282930   
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
     12
3456789
10111213141516
17181920212223
242526272829 
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
     12
3456789
10111213141516
17181920212223
24252627282930
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
1234567
891011121314
15161718192021
22232425262728
2930     
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
    123
45678910
11121314151617
18192021222324
25262728   
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
   1234
567891011
12131415161718
19202122232425
2627282930  
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
     12
3456789
10111213141516
17181920212223
24252627282930
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       

RECOMMENDED

REPO trading goes online

Cedi will be fairly stable in 2021 – BoG

January 21, 2021
Calls for stimulus packages for local businesses involved in AfCFTA – GNCCI

Calls for stimulus packages for local businesses involved in AfCFTA – GNCCI

January 21, 2021

MOST VIEWED

Plugin Install : Popular Post Widget need JNews - View Counter to be installed
  • Energy
  • Health
  • Auto
  • International
  • Subscription Form
  • Staff Webmail
  • About Us
  • Contact Us
Call us: +233 24 432 0902 | info@goldstreetbusiness.com

© Copyright © 2020 goldstreetbusiness.com. All Rights Reserved.

No Result
View All Result
  • Homepages
    • Homepage Layout 1
    • Homepage Layout 2
  • World
  • Business
  • Technology
  • Health

© Copyright © 2020 goldstreetbusiness.com. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.