The oilseeds feed market in Ghana reveals a decreasing trend over the past decade. In 2023, the market stood at 62.0 thousand metric tons, representing a -3.12% year-on-year variation. From 2014 to 2023, the Compound Annual Growth Rate (CAGR) shows a decline of -2.67%. Recent data indicates a consistent downturn with the last two years showing diminishing values: 65.0 thousand metric tons in 2021 to 62.0 thousand metric tons in 2023, reflecting average yearly declines. Looking ahead, forecasts suggest a further decrease to 57.0 thousand metric tons by 2028, with a forecasted 5-year CAGR of -1.35%.
Future trends to watch for:
• Advances in agricultural practices and technology could impact oilseed production levels.
• Government policies or subsidies targeting the agribusiness sector may alter market dynamics.
• Global market demands and oilseed price fluctuations can significantly influence local feed production and consumption.
