The Groundnut Oil market in Ghana has seen fluctuations in its volume over the past decade, with a notable decrease in 2020 and significant year-on-year variations. By 2023, the market stood at 64 thousand metric tons, marking no year-on-year change but showcasing a CAGR of -0.91%. The past five years reveal an average variation per year of -0.91%. Looking forward, from 2024 onwards, the market is expected to see a modest growth rate with a forecasted 5-year CAGR of 0.05%, stabilizing around 64.22 thousand metric tons by 2028. Future trends to watch for include potential technological advancements in production, shifts in domestic and international demand, and policy changes related to agriculture and trade. Another significant factor could be the impact of climate change on peanut crop yields, influencing the overall availability and pricing of groundnut oil.
