The rice and products production in Ghana stood at 817.0 thousand metric tons in 2023, reflecting a 1.49% year-on-year increase. From 2014 to 2023, the production of rice and products exhibited an overall upward trend with fluctuations, including years of decline in 2019 and 2020. The 5-year Compound Annual Growth Rate (CAGR) from 2019 to 2023 was 1.22%, highlighting a moderate but consistent growth pattern.
Key trends over the years:• 2014: 604.0 thousand metric tons, steady growth kicks off.• 2015-2018: A period of substantial growth, with peak yearly increments.• 2019-2020: A slight decline attributed to various market and environmental factors.• 2021: Recovery and growth.• 2022-2023: Stabilized growth around a 1.5% increase year-on-year.
Forecast for 2024 onwards shows a continued increase, with a projected 5-year average growth rate of 1.18% per annum, culminating in a total growth rate of 6.02% by 2028. This suggests a steady but decelerated growth rate compared to the past decade.
Future trends to watch include:• Climate change impacts on agricultural yield.• Technological advancements in rice farming.• Policy changes and subsidies to support local rice production.• Shifts in domestic consumption patterns and export opportunities.• Investment in irrigation and pest control which could boost productivity.
