What is the price of palm oil per kilogram/pound in Ghana today?
The retail price range for Ghana palm oil is between US$ 3.85 and US$ 5.78 per kilogram or between US$ 1.75 and US$ 2.62 per pound(lb). Click here to see today's exact prices of palm oil in Ghana
The retail price range in Ghana Cedi for palm oil is between GHS 41.43 and GHS 62.15 per kilogram or between GHS 18.79 and GHS 28.19 per pound(lb) in Accra and Kumasi.
Wholesale prices
In 2024, the approximate wholesale price range for Ghana palm oil is between US$ 2.70 and US$ 4.05 per kilogram or between US$ 1.22 and US$ 1.83 per pound(lb).
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Ghana Palm Oil Export Prices - Historical, Trends and Prediction
The export price per kilogram of Palm Oil from Ghana over the last five years has been quite varied. In 2017, the price was 1.02 US $ per kg, followed by 0.89 US $ per kg in 2018. In 2019, the price dropped to 0.80 US $ per kg and then to 0.00 US $ per kg in 2020 and 2021. Based on this data, it is predicted that the export price per kilogram of Palm Oil from Ghana in 2023 will be 0.80 US $ per kg and in 2024 will be 0.90 US $ per kg.The Ghana palm oil exports are classified as:
- Palm kernel and babassu oil and their fractions, whether or not refined, but not chemically modified (excluding crude) (HS code 151329)
- Crude palm kernel and babassu oil (HS code 151321)
- Palm oil and its fractions, whether or not refined (excluding chemically modified and crude) (HS code 151190)
- Crude palm oil (HS code 151110)
Ghana Palm Oil Import Prices - Historical, Trends and Prediction
The import price per kilogram of Palm Oil into Ghana over the last five years has been relatively stable. In 2016, the price was 0.67 US $ per kg, followed by 1.02 US $ per kg in 2017. In 2018, the price dropped to 0.89 US $ per kg and further decreased to 0.8 US $ per kg in 2019. The price remained unchanged in 2020 and 2021 at 0.0 US $ per kg. Based on this trend, it is likely that the import price per kilogram of Palm Oil into Ghana in 2023 will be around 0.8 US $ per kg and in 2024 will be around 0.67 US $ per kg.Export values for Ghana palm oil
The total values in export for palm oil in Ghana were US$ 186,030, US$ 215,160, US$ 164,434 and US$ 220,318 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Processed category in Ghana: Milk & Cream, Yogurt, Kefir & Buttermilk, Whey, Butter, Cheese, Natural Honey, Coffee, Green Tea & Black Tea.
See prices of palm oil in other countries across Africa: Algeria palm oil, Angola palm oil, Botswana palm oil, Burundi palm oil, Cameroon palm oil, Cape Verde palm oil, Central African Republic palm oil, Comoros palm oil, DRC Congo palm oil & Benin palm oil.
Ghana palm oil - Production, Exports, Imports, Seasons and HS Codes
In 2019 Ghana sold 275,772 tonnes of palm oil. For the year 2019 alone, the demand for Ghana palm oil (processed category) has escalated, with a change of 48.932 percent compared to the year 2018. Between 2017 and 2019, palm oil's exports went up by 30.7 percent bringing the country US$220.32m for the year 2019. Ghana's palm oil exports are classified as:
- Crude palm kernel and babassu oil (HS code 151321)
- Palm kernel and babassu oil and their fractions, whether or not refined, but not chemically modified (excluding crude) (HS code 151329)
- Crude palm oil (HS code 151110)
- Palm oil and its fractions, whether or not refined (excluding chemically modified and crude) (HS code 151190)
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Ghana palm oil export values
In 2019, Ghana sold palm oil valued at 220.32m USD, an improvement of 33.99% from 2018's total palm oil export of 164.434m USD. The yearly increase in value of Ghana palm oil between 2017 to 2018 was -23.576 pc.
The annual variation in the volume of Ghana's palm oil exports between 2017 and 2019 was 30.7% compared to a variation of 48.932% in the period between 2018 and 2019.
Export markets for Ghana palm oil ( in '000$ )
Ghana's top destinations for palm oil are Nigeria, Niger, Germany, Senegal and US.
Ghana procured 574,442 tonnes of palm oil in 2019.
Production
The production of palm oil in Ghana was 21,243,520 tonnes in 2019 and is projected to change by an average of 0.32%. The country had approximately 2,994,048.00 hectares under palm oil cultivation.