The demand for sunflowerseed oil in Ghana has remained relatively stable for several years until a significant increase in 2016, reaching 3.0 thousand metric tons. This peak was followed by fluctuations, with the lowest point being in 2017 and a steady rise afterward. As of 2023, the volume stood at 3.0 thousand metric tons. Notably, the year-on-year variation was stable at 0% between 2022 and 2023.
Over the past five years, the annual compound growth rate (CAGR) was 0%, indicating static growth. However, analyzing the data from 2014 shows periods of dynamic changes, including a 200% increase in 2016 and a sharp decrease by 66.67% in 2017. Forecasted data from 2024 onwards predicts a gradual growth trend, with a five-year CAGR projected at 2.71%, leading to an overall increase of 14.28% by 2028.
Future trends to watch for include potential impacts of policy changes, import-export regulations, and shifts in consumer preferences towards or away from sunflowerseed oil. Monitoring these factors could provide insights into further demand fluctuations and growth opportunities in the Ghanaian market.
