The oilseeds processing industry in Ghana has experienced significant growth in the past decade, particularly during the period from 2014 to 2023. Starting from a base of 1.3 million metric tons in 2014, there was a notable increment to 3.39 million metric tons by 2023. Noteworthy year-on-year variations include a 75% increase in 2015, emphasizing a surge in industry production. However, growth stabilized to moderate rates in the following years. In 2023, the year-on-year growth rate stood at 3.48%, with a compound annual growth rate (CAGR) of 2.72% over the past five years. The forecast suggests a continued upward trend, projecting a 2.33% CAGR over the next five years, reaching 3.93 million metric tons by 2028, a total forecasted growth rate of 12.21% over this period.
Future trends to watch for include advancements in processing technology, potential impacts of climate change on crop yields, changes in both domestic and international demand, and the potential for government policy shifts favoring industrialization and export incentives within the agro-processing sector.