In 2023, the oilseeds market volume in Ghana stood at 403 thousand metric tons, reflecting a slight year-on-year decrease of 0.25%. Over the past two years, market volume showed a modest decline with the most significant drop occurring in 2020 at -5%. However, a resurgence was noted in 2021 with a 5% increase. The compound annual growth rate (CAGR) over the last five years is -0.49%, indicating an average annual reduction in market size.
Looking ahead, the oilseeds market is forecasted to continue its gradual decline with a 5-year CAGR of -0.09%, projecting the market volume to reach approximately 400.87 thousand metric tons by 2028. This period also forecasts an overall 5-year growth rate of -0.45%.
Future trends to watch for include potential fluctuations in global oilseed prices, advancements in agricultural technologies, and shifts in both domestic and international demand. Additionally, policy changes affecting agricultural subsidies and trade agreements could significantly influence market dynamics.
