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  • Potential Markets - Fixed Vegetable Fats & Oils (Shea/Karite Oil) Potential Growth at Current Top Export Destinations Potential New Markets

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    Ghana is a major exporter of shea butter and exported $90 million worth in 2018. Malaysia was the largest importer, absorbing about $32 million, or 34% of Ghana's exports. Other top importers for Ghana included Denmark, Belgium, the Netherlands, and India, who combined imported around 94% of Ghana's total shea butter exports. While Ghana's overall shea butter exports grew 30% from 2017 to 2018, exports to some individual countries like Denmark grew even faster at 203%. The document identifies several new potential growth markets for Ghana based on their growing imports of shea butter in recent years, such as Norway, China, and Russia.

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    Ghana is a major exporter of shea butter and exported $90 million worth in 2018. Malaysia was the largest importer, absorbing about $32 million, or 34% of Ghana's exports. Other top importers for Ghana included Denmark, Belgium, the Netherlands, and India, who combined imported around 94% of Ghana's total shea butter exports. While Ghana's overall shea butter exports grew 30% from 2017 to 2018, exports to some individual countries like Denmark grew even faster at 203%. The document identifies several new potential growth markets for Ghana based on their growing imports of shea butter in recent years, such as Norway, China, and Russia.

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    31 views1 page

    Potential Markets - Fixed Vegetable Fats & Oils (Shea/Karite Oil) Potential Growth at Current Top Export Destinations Potential New Markets

    Uploaded by

    Ben Apaw
    Ghana is a major exporter of shea butter and exported $90 million worth in 2018. Malaysia was the largest importer, absorbing about $32 million, or 34% of Ghana's exports. Other top importers for Ghana included Denmark, Belgium, the Netherlands, and India, who combined imported around 94% of Ghana's total shea butter exports. While Ghana's overall shea butter exports grew 30% from 2017 to 2018, exports to some individual countries like Denmark grew even faster at 203%. The document identifies several new potential growth markets for Ghana based on their growing imports of shea butter in recent years, such as Norway, China, and Russia.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    POTENTIAL MARKETS – FIXED VEGETABLE FATS & OILS (SHEA/KARITE OIL)

    Potential Growth at Current Top Export Destinations Potential New Markets


    • Ghana exported a total of US$ 90 million worth of Shea butter and its derivatives (circa 55,990 • Global demand for Fixed vegetable fats and oils in 2018 was estimated at US$ 2.1 billion in 2018, up
    tons) to 24 countries in 2018, up from US$ 69.4 million in 2017. The value represents 9th in terms from US$ 1.94 billion in 2017 and US$ 1.82 billion in 2016. USA was the largest importer of the
    of global ranking of countries that exported products under the sector in spotlight. products with an estimated imports worth US$ 326.5 million. Other notable global importers were
    France (US$185.8m), Netherlands (US$132.2m), Germany (US$125.9m), Japan (US$101.3m),
    • Malaysia was the largest market destination for shea butter from Ghana, with imports of about Sweden (US$88.2m), and China (US$69.2m). Of the top 7 importers, China’s imports of the
    US$ 31.9 million of the product. The countries with the least imports (US$1,000 each) were France, products grew averagely by 39% between 2014 and 2018.
    Kuwait, Saudi Arabia and South Africa
    • Beyond the notable importers of Ghana’s shea butter, new and potential markets with attractive
    • Other notable importers of Shea butter from Ghana include Denmark (US$ 23.72m), Belgium (US$ and positive growth rates for market diversification and penetration by Ghanaian companies and
    13.53m), the Netherlands (US$ 11.8m), India ( US$ 3.64m) TPOs are Norway (113%), China (39%), Russian Federation (23%). The average positive growth rate
    recorded by these countries is indicative of increased demand for the product.
    • Malaysia, Denmark, Belgium, the Netherlands and India put together, absorbed about 93.8% of the
    total shea butter exported by Ghana. • Apart from the Netherlands which recorded a negative two percent (-2%) growth rate in terms of
    quantity imported between 2014-2018, all the top five global importing countries recorded positive
    • Whilst exports from Ghana to the world grew by an average of 30% between 2017 and 2018, growth rates of 16%, 2%, 2%, and 4% for USA, France, Germany and Japan respectively.
    exports from Ghana to Malaysia grew by an average of 6% over the same period; Denmark (203%),
    Belgium (30%), the Netherlands (-30%) and India (307%). Selected potential growth markets for Ghana

    • In 2018, Malaysia’s global importation of the products under consideration amounted to US$ Country Imports Average Average Import Ghana’s Leading suppliers
    83.54 million with Ghana emerging as the largest supplier to the Malaysian market. Other suppliers 2018 import import growth Market /market share (%) in
    to the Malaysian market included Singapore, Togo, India and Germany. (million) growth in growth in in value Share (%) identified markets
    value (%) Qty (%) (%)
    Prospects for market diversification for shea butter exported by Ghana in 2018 2014-2018 2014-2018 2018

    Norway 14.9 109 249 -26 0 Russia (67.9)


    Lithuania (9.4)
    USA (5.9)

    China 69.2 39 25 63 0.2 Australia (42.3)


    USA (9.5)
    France (8.7)

    Russian 42.7 23 29 19 0 Sweden (45.2)


    Federation Netherlands (31.5)
    Italy (3.5)

    Hong Kong 11.5 23 48 -3 0 Malaysia (31.4)


    Thailand (22.8)
    Italy (11)
    Ghana Export Promotion Authority - www.gepaghana.org/ published April 2019
    Source: Trademap (2019)
    Product HS Code: 151590

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