Ghana has a significant and developing agricultural sector. In 2020, Ghana was the second largest producer of cocoa in the world and the fourth largest producer of cassava. It also produces maize, tomato, and rice among many other food crops. According to Ghana’s Ministry of Food and Agriculture, in 2020, Ghana imported $900 million in agricultural technology, equipment, and supplies to support this sector. The leading import categories were, in rank order: 1) herbicides, insecticides, and similar products; 2) tractor parts and accessories; 3) fertilizer; 4) pumps and motors; 5) tractors; and 6) hand tools.
Sub-Sector Best Prospects
Agricultural chemicals: Ghana is a significant market for pesticides and herbicides. There is also a strong prevalence of counterfeit products on the market, requiring companies to take special precautions to protect their intellectual property and brand reputation. COCOBOD, a state-owned enterprise, manages the supplies of agricultural chemicals and fertilizer to the cocoa sector.
Equipment: Dealerships for American equipment such as John Deere and AGCO/Massey Ferguson are well established. There is significant foreign competition from China, India, Japan, and EU suppliers, among others. Ghana can also be a good market for reconditioned or remanufactured agricultural equipment if after service can be provided. Given that many local farmers are smallholders, creative financing packages or working with cooperative models to share equipment is often needed.
Fertilizer: Ghana faced a severe fertilizer crisis in 2022 due to surging world prices combined with currency depreciation in Ghana. Notably, Ghana has little domestic production of either inorganic or organic fertilizer although it is building a domestic inorganic fertilizer industry (processing Moroccan phosphate) and there are some small scale organic producers. U.S. suppliers such as soil enhancement producer JSH International (Apex 10) and inorganic fertilizer producer Agrimat are well established on the market. Ghana is currently transitioning away from its traditional subsidies for the sector. Cost-competitive U.S. suppliers of inorganic and organic fertilizers may be able to enter the market with the right local distributor/partner to register products with regulatory authorities and conduct field trials for demonstration purposes. The ability to provide payment terms or financing packages would provide suppliers with an edge, as well. Please see our market intelligence reports on the fertilizer market in Ghana.
Irrigation and other advanced technologies: Given the increasing desertification of the north of Ghana, and vulnerability of other areas to flooding, advanced irrigation techniques such as fertigation would have important applications. Artificial intelligence-powered technology to assess weather patterns, soil conditions, planting optimization and plant health are emerging on the market.
Processing and Packaging: Local companies are seeking to move up the value chain of production by improving their quality, processing, packaging and labeling, creating possibilities for equipment sales. Cargill operates in the cocoa processing sector and Bunge processes shea in country. The U.S. franchise ePac Flexibles has established a packaging plant to support the local agribusiness sector.
Cold Chain: There are significant possibilities for the growth of the cold chain and the integration of post-harvest loss management solutions in Ghana. The need for cold chain solutions within the fruit and vegetable value chains through cold storage and refrigerated trucks has a revenue potential of up to $900 million annually. Please see our market intelligence report on cold chain opportunities in Ghana.
Propak 2024, April 30 – May 2, Accra, Ghana
Agritech West Africa, March 19-21, 2024 in Accra, Ghana. This trade show covers the entire value chain of the agriculture industry and offers an opportunity to reach local buyers in country. It is supported by Ghana’s Ministry of Food and Agriculture and Ministry of Trade and Industry. It has traditionally been dominated by Indian, South African, Turkish and EU and UK suppliers. Please contact Commercial Service Ghana if your company is considering this show.
PackExpo: September 11-13, 2023. Las Vegas, Nevada. Commercial Service Ghana traditionally leads a Ghanaian delegation to this show in the United States.