The Pig Farmers Association of Ghana has stated that starting on December 1st, 2023, the farmgate price of pork is anticipated to increase by 20%.
According to the association, the emergence of a high cost of production has necessitated an upward price adjustment.
This was disclosed by the President of the Pig Farmers Association of Ghana, Kwame Appiah Danquah, at this year’s Porktober event.
Reacting to this, some of the pork consumers in Dormaa Ahenkro of the Bono region have expressed dissatisfaction with the decision taken by the Pig Farmers Association, expressing that the current economic condition may compel them to stop consuming their favourite meat; hence, the association must consider rescinding their decision as Christmas approaches.
The retail price range in Ghana Cedi for pork is between GHS 26.88 and GHS 37.63 per kilogram or between GHS 12.19 and GHS 17.07 per pound(lb) in Accra and Kumasi.
The export price of Pork from Ghana has seen a significant fluctuation over the past five years. In 2012, the export price per kilogram was 8.33 US dollars. This decreased to 2.0 US dollars in 2016, before rising to 17.69 US dollars in 2018. Based on this data, it is likely that the export price of Pork from Ghana will continue to fluctuate in the coming years. Predicted prices for 2023 and 2024 are 8.90 US dollars and 14.45 US dollars respectively.
The import price per kilogram of Pork from Ghana has seen a significant fluctuation over the past five years. In 2012, the price was 8.33 US dollars per kg, which dropped to 2.00 US dollars per kg in 2016. However, in 2018, the price rose to 17.69 US dollars per kg. This indicates that the import price of Pork from Ghana is highly volatile. Looking ahead, it is difficult to predict the exact import price of Pork from Ghana for 2023 and 2024. However, based on the data from the past five years, it is likely that the import price will remain volatile.
The fastest-growing import markets in Pig Meat for Ghana between 2020 and 2021 were Poland ($670k), United Kingdom ($243k), and Ireland ($168k).