The demand for cottonseed in Ghana has remained relatively stable over the past years, with an average value of 6.0 thousand metric tons from 2015 to 2023. In 2023, the demand stood at 6.0 thousand metric tons. Notably, there was a slight dip in 2020 to 5.7 thousand metric tons, representing a -5% YoY variation, but it rebounded in 2021. The compound annual growth rate (CAGR) over the last five years was essentially flat at 0%, showing minimal growth.
Forecasts from 2024 indicate a gradual increase in demand, reaching 6.24 thousand metric tons by 2028. The forecasted five-year CAGR is 0.55%, reflecting a modest uptick. The projected increase represents a total growth rate of 2.79% over the next five years.
Future Trends to Watch For:
- Potential policy changes affecting cottonseed production and importation
- Developments in local agricultural practices and technological advancements
- Global market trends and prices influencing local demand and supply
- Changing consumption patterns within the textile and edible oil industries
