Ghana - Urea - Market Analysis, Forecast, Size, Trends And Insights
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View PricingUrea Price in Ghana - 2022
Contents:
- Urea Price in Ghana (CIF) - 2022
- Urea Price in Ghana (FOB) - 2022
- Urea Imports in Ghana
- Urea Exports in Ghana
Urea Price in Ghana (CIF) - 2022
The average urea import price stood at $203 per ton in 2022, shrinking by -16.5% against the previous year. Over the period under review, the import price saw a abrupt contraction. The growth pace was the most rapid in 2021 an increase of 30%. Over the period under review, average import prices hit record highs at $496 per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Estonia ($1,210 per ton), while the price for Ukraine ($101 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+10.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Urea Price in Ghana (FOB) - 2022
In 2022, the average urea export price amounted to $153 per ton, shrinking by -8.3% against the previous year. Overall, the export price recorded a pronounced decline. The pace of growth appeared the most rapid in 2020 when the average export price increased by 67%. Over the period under review, the average export prices hit record highs at $189 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($575 per ton), while the average price for exports to Burkina Faso ($144 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.
Urea Imports in Ghana
In 2022, purchases abroad of urea was finally on the rise to reach 51K tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, recorded a abrupt decline.
In value terms, urea imports surged to $10M in 2022. Overall, imports, however, recorded a sharp reduction.
| Import of Urea in Ghana (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 3.8 | 2.2 | 1.4 | 2.3 | -15.4% |
| Finland | 3.0 | 1.7 | 1.1 | 1.8 | -15.7% |
| Russia | 4.4 | 2.5 | 0.9 | 1.5 | -30.1% |
| Latvia | 4.6 | 2.1 | 1.0 | 1.3 | -34.4% |
| Ukraine | 0.8 | 1.7 | 0.9 | 1.2 | 14.5% |
| Libya | 2.6 | 1.3 | 0.7 | 0.9 | -29.8% |
| Poland | 2.5 | 1.2 | 0.7 | 0.9 | -28.9% |
| Nigeria | 2.3 | 0.6 | 0.1 | 0.1 | -64.8% |
| Others | 0.6 | 0.3 | 0.2 | 0.3 | -20.6% |
| Total | 24.6 | 13.7 | 6.9 | 10.3 | -25.2% |
Top Suppliers of Urea to Ghana in 2022:
- Ukraine (12.4K tons)
- Russia (11.3K tons)
- Libya (8.1K tons)
- Latvia (7.3K tons)
- Finland (6.3K tons)
- Estonia (1.9K tons)
- Poland (1.9K tons)
- Nigeria (0.2K tons)
Urea Exports in Ghana
After three years of growth, shipments abroad of urea decreased by -21.9% to 2.8K tons in 2022. In general, exports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by 78% against the previous year. As a result, the exports reached the peak of 3.5K tons, and then reduced dramatically in the following year.
In value terms, urea exports declined markedly to $421K in 2022. Overall, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 131% against the previous year. As a result, the exports reached the peak of $588K, and then reduced markedly in the following year.
| Export of Urea in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Burkina Faso | 67.1 | 210 | 561 | 391 | 79.9% |
| Togo | 61.0 | 40.0 | 27.1 | 14.3 | -38.3% |
| Others | 2.4 | 4.0 | N/A | 15.4 | 85.8% |
| Total | 130 | 254 | 588 | 421 | 47.9% |
Top Export Markets for Urea from Ghana in 2022:
- Burkina Faso (2726.3 tons)
- Togo (33.3 tons)
This report provides an in-depth analysis of the urea market in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 4001 - Urea
Country coverage:
- Ghana
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Ghana
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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