The rice and products market in Ghana exhibited fluctuating trends from 2014 to 2023, starting at 1.09 million metric tons in 2014 and reaching 1.16 million metric tons in 2023. Key variations included a notable decline of 5.87% in 2018 and a significant recovery in 2021 with a 5.63% increase. The average annual growth rate over the last five years (CAGR) is 0.63%. Year-on-year variation has been modest recently, standing at 0.26% in both 2022 and 2023.
Future trends project a steady but slight increase with a 5-year forecast CAGR of 0.23%, expecting the market size to reach 1.18 million metric tons by 2028. Future trends to watch for include shifts in domestic production policies, international trade agreements, and potential changes in consumer preferences towards rice consumption patterns. Market dynamics may also be influenced by environmental factors and technological advancements in agriculture.
