The wheat market in Ghana has shown significant fluctuations from 2014 to 2023. In 2023, the volume stood at 662 thousand metric tons, reflecting a year-on-year growth of 1.69%. Over the last five years, the market has grown at a compound annual growth rate (CAGR) of 1.88%. The market experienced prominent growth spurts in 2016 and 2017 with year-on-year increases of 18.28% and 17.69%, respectively. However, the market faced minor dips in 2015, 2018, and 2020.
Looking forward, the wheat market in Ghana is expected to continue its upward trajectory, achieving an estimated volume of 718.8 thousand metric tons by 2028. The forecasted five-year CAGR stands at 1.3%, with an overall growth rate of 6.66% over this period.
Future trends to watch for include:
- Potential impacts of climate change on wheat production and import patterns
- Changes in consumer preferences and dietary habits
- Government policies affecting agriculture and import tariffs
- Technological advancements in wheat cultivation and processing
