In 2023, palm oil demand in Ghana stood at 452.0 thousand metric tons, marking a 2.26% year-on-year increase. Over the last five years, the demand has grown at an average annual rate (CAGR) of 1.67%. From 2014 to 2023, the market has experienced fluctuations, with notable spikes in 2015 (29.51%) and 2017 (59.84%), as well as declines in other years, notably in 2016 (-33.24%) and 2020 (-14.78%). The forecasted five-year CAGR from 2024 to 2028 is 1.65%, indicating a steady growth trajectory.
Future trends to watch for include increasing demand driven by population growth and industrial uses, potential policy changes affecting trade, and the impact of sustainability initiatives on production and consumption patterns.
