Advertisment

Market Price of Coconut Oil in Ghana

Price of coconut oil
Picture Source: Purplle

Have you ever experienced the silky touch of coconut oil on your skin, or savoured the rich flavour it adds to your favourite dishes? The magic of coconut oil is undeniable, and its popularity as a natural remedy and culinary enhancer has grown exponentially.

Advertisment

But have you ever wondered why the price of coconut oil varies so much in Ghana’s market? What factors are at play behind the scenes, shaping the cost of this versatile elixir? Join us on a journey through the coconut groves and market stalls of Ghana as we uncover the intriguing story of coconut oil prices.

How do supply and demand dance with production methods and global trends to influence the price you see on the shelves? Let’s explore the tropical world of coconut oil economics and discover the secrets behind its fluctuating value.

Coconut Oil Production

The production of coconut oil in Ghana involves several steps. While the specific processes may vary depending on the producer, here is a general overview:

Harvesting: Coconuts are harvested from coconut palm trees. Coconuts are typically picked when they are mature and have a high oil content.

Husking: The outer husk of the coconut is removed to expose the hard shell.

Advertisement

Cracking: The hard shell of the coconut is cracked open to access the white flesh inside.

Grating: The white flesh of the coconut is grated or shredded into smaller pieces. This can be done manually or using machinery.

Drying: The grated coconut flesh is typically dried to reduce its moisture content. This can be done by sun drying or using drying equipment.

READ MORE  Market Price of Crude Oil

Pressing: The dried coconut flesh is then pressed to extract the coconut milk. This can be done using mechanical presses or by hand.

Separation: The coconut milk is allowed to stand, and the oil naturally separates from the water content. This process is known as centrifugation.

Filtering: The extracted coconut oil is filtered to remove any impurities or solids.

Packaging: The filtered coconut oil is packaged into containers for distribution and sale.

Uses Of Coconut Oil

Coconut oil has several uses in Ghana. Here are some of them:

Cooking: Coconut oil is a popular cooking oil in Ghana. It is used in a variety of dishes, including soups, stews, and fried foods.

Skincare: Coconut oil is also used in skin care products in Ghana. It is believed to have moisturizing, antiseptic, and antioxidant properties that can benefit the skin.

Haircare: Coconut oil is also used in haircare products in Ghana. It is believed to help reduce protein loss from damaged hair and promote healthy hair growth.

Industrial uses: Coconut oil is also used in various industries in Ghana, including the cosmetics, pharmaceutical, and food industries.

Traditional medicine: Coconut oil is also used in traditional medicine in Ghana. It is believed to have various health benefits, including improving digestion, boosting the immune system, and reducing inflammation.

Benefits of Coconut Oil

Coconut oil has several benefits and significance. These benefits include:

Nutrition and health: Coconut oil is rich in medium-chain fatty acids, which are believed to have several health benefits, including improving brain function, boosting metabolism, and reducing inflammation. 

Skincare: Coconut oil is a natural moisturizer that can help to keep the skin moisturized and supple. It is also believed to have antiseptic and antioxidant properties that can benefit the skin.

Haircare: Coconut oil is believed to help reduce protein loss from damaged hair and promote healthy hair growth.

READ MORE  Market Price of Queen Elizabeth Cocoa Butter

Cooking: Coconut oil is a popular cooking oil in Ghana. It is used in a variety of dishes, including soups, stews, and fried foods.

Economic significance: Coconut oil is an important export product for Ghana. In 2021, Ghana exported $8.26M in coconut oil, making it the 32nd most significant exporter of coconut oil in the world.

Coconut Oil Brands and Suppliers in Ghana

Here are some brands of coconut oil in Ghana:

  1. Mel’s Virgin Coconut Oil
  2. Makola Virgin Coconut Oil
  3. Ghana Fruit Cart

Here are some producers and suppliers of coconut oil in Ghana:

  1. Stemak Ltd
  2. Rhule Resources Ghana (RRG)
  3. Emj Purenatural Enterprise
  4. R&R Luxury Ghana
  5. Djembe Direct

Price of Coconut Oil

The price of coconut oil varies depending on the location, brand, supplier or seller.

According to Selina Wamucii, the retail price range for coconut oil in Ghana is between GHS 53.76 and GHS 96.77 per kilogram or between GHS 24.38 and GHS 43.89 per pound in Accra.

Here are the prices of the Nzema Women coconut oil ;

1 Litre – GHS 70

2.5 Litres – GHS 175

6 Litres – GHS 320

For Makola Virgin Coconut oil, 1 Litre ranges between GHS 50 to GHS 80 whereas the 4 Litre sells at GHS 297.

Factors Affecting the Price of Coconut Oil

There are several factors that can affect the price of coconut oil in Ghana. Here are some of them:

Supply and demand: The availability of coconuts and the demand for coconut oil can affect its price. When there is a shortage of coconuts, the price of coconut oil may increase.

Production costs: The cost of producing coconut oil, including labour, equipment, and transportation, can also affect its price.

Quality: The quality of coconut oil can also affect its price. High-quality coconut oil may be more expensive than lower-quality ones.

READ MORE  Samsung Galaxy A12 in Ghana: Price & Specs

Location: The location of the seller can also affect the price of coconut oil. Prices may vary depending on the region or city in Ghana.

Brand: The brand of coconut oil can also affect its price. Popular or well-known brands may be more expensive than lesser-known ones.

Market competition: The level of competition in the market can also affect the price of coconut oil. When there are many sellers offering coconut oil, prices may be more competitive.

Where to Buy Coconut Oil

You can buy coconut oil from health food stores, supermarkets, local markets, pharmacies and online shops close to you. You can also check the website and social media handles of the brands mentioned early on to purchase from them.

Recommended Resources:

Why is coconut oil expensive in Ghana?

Coconut oil can be expensive in Ghana due to several factors, including the cost of production, transportation, and distribution. Additionally, the demand for coconut oil may also affect its price. 

Where can I buy coconut oil in Ghana?

Coconut oil can be bought in Ghana from various sources, including health food stores, supermarkets, local markets, pharmacies, and online marketplaces.

How can I study the import market of coconut oil in Ghana?

To study the import market of coconut oil in Ghana, you can use import data provided by websites such as Volza.com. This data includes information on the price, buyer, supplier, and HSN code of coconut oil imports in Ghana.

As we wrap up our exploration of the fascinating world of coconut oil prices in Ghana, we have delved into the intricate dance of supply, demand, production, and global trends that shape the cost of this versatile and beloved product. From the lush coconut groves to the bustling marketplaces, we’ve uncovered the factors that contribute to the fluctuations in price, making it a captivating blend of nature, economics, and consumer preferences.

The journey of understanding the market price of coconut oil has unveiled the complexity of its value, not just in monetary terms, but also in cultural significance and health benefits. Whether used for cooking, skincare, or other applications, coconut oil has become an essential part of many Ghanaian households.

Advertisment
You May Also Like