The Ghana Export Promotion Authority (GEPA) has disclosed that it expects export of coconut and coconut derivatives to rise considerably in the coming years.
According to GEPA, this will be as a result of the current interventions by actors in the country with particular emphasis on GEPA’s supply expansion programs.
GEPA indicated that Ghana’s impressive growth and dominant position in the Dominican market should be augmented and used as a platform to launch into other markets in the Caribbean.
The top 5 suppliers to the Dominican Republic of which Ghana is a major player, accounted for a market share of about of 98.8% last year. At the ECOWAS level, Nigeria was the biggest exporter of dessicated coconut to the world in 2021, followed by Ghana. Similarly, Nigeria and Ghana were the top exporters of dessicated coconut at the wider continental level.
Strong growth in Ghana’s Exports of Desiccated Coconut
Coconut is becoming one of the most important non-traditional export commodities to Ghana. Recent statistics from the Ghana Export Promotion Authority show that Ghana’s exports of Desiccated Coconut to the world recorded a significant jump of 249% in value in 2021 compared to the years prior.
GEPA disclosed that Ghana’s exports of Desiccated Coconut amounted to US$21.985 million in 2021 compared to US$6.3 million in 2020 and US$3.8 million in 2019. The sterling growth in 2021, placed Ghana in the 9th position in global exports of Desiccated Coconut.
“From 2017 to 2021, growth in exports earnings from Desiccated Coconut exported by Ghana averaged 45%. Dominican Republic was the biggest market for Ghana’s export of Desiccated Coconut in 2021 with a market share of 79%.”GEPA
Dominican Republic imported US$29.31 million worth of Desiccated Coconut from the world in 2021. Dominican Republic’s imports of Desiccated Coconut from Ghana represents (59.2%) of the total Desiccated Coconut imported by Dominican Republic from the world. Other top suppliers aside Ghana are Guyana (32.6%), Cote d’Ivoire (4.6%), Indonesia (1.5%), and Viet Nam (0.9%).
Ghana’s biggest competitors
Guyana is Ghana’s biggest competitor in the Dominican Republic market. Guyana had 32.6% of its Desiccated Coconut exports to the Dominican market.
Cote d’Ivoire also exported US$1.35 million worth of Desiccated Coconut to the Dominican market. Its market destinations included Dominican Republic (45%), Senegal (14.8%), Niger (12.7%) and Israel (8.9%). It recorded 151% in its 5-year average growth rate, and 36% rate between 2020 and 2021 to the Dominican market.
Indonesia, a major global competitor in exports of Desiccated Coconut, had its exports valued at US$234,673m in 2021. Germany (12.7%), Russian Federation (8.6%), Singapore (8.3%) and Netherlands (7.2%) were the four export destinations for Indonesia.
Philippines, the largest global exporter of Desiccated Coconut had its exports valued at US$397million in 2021. Its top three importers were the United States of America (30.4%), Netherlands (16.6%) and Canada (6.1%).
Global exports of Desiccated Coconut were over US$1billion, recording an annual growth rate of 52% in 2021, and an average growth rate of 7% from 2017-2021. The top five global exporters of Desiccated Coconut were Philippines (US$397m), Indonesia (US$235m), Sri Lanka (US$116m), Netherlands (US$69m) and Viet Nam (US$59m).