New Food market report from Business Monitor International: "Ghana Food & Drink Report Q3 2013"

Boston, MA -- (SBWire) -- 08/12/2013 --Our outlook for Ghana's economy and consumer sector remains very positive, as we expect the country to be a major outperformer at the regional and global level - a view that looks even stronger given the onset of domestic oil production. Ghanaian incomes are expected to increase significantly over the next few years, giving the consumer sector a significant boost. Although the macroeconomic climate has deteriorated somewhat recently, we still see strong opportunities in Ghana's food and drink industry.

Headline Industry Data

- 2013 per capita food consumption (local currency) = +9.98%; forecast compound annual growth rate (CAGR) to 2017 = +11.16%.
- 2013 beer volume sales = +8.00%; forecast CAGR to 2017 = +8.40%.
- 2013 carbonated drinks volume sales = +9.00%; forecast CAGR to 2017 = +9.40%.

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Key Industry Trends

Unilever Ghana Expects Lipton Tea To Boost 2013 Sales: In spring 2013, Unilever said that it expected a 10% boost to its annual sales in Ghana as it begins the manufacture of Lipton Tea for export to West Africa. Unilever Ghana's full-year sales revenue target stands at GHS310mn (US$157mn). The company recently established Ghana's first tea production facility, at a cost of GHS7.5mn (US$3.8mn), with the facility expected to produce 1,000 tonnes of Lipton-branded tea each year.

Carrefour Signs JV for Expansion In West And Central Africa: In May 2013, French retail giant Carrefour formed a joint venture with consumer goods distributor CFAO to develop stores under the Carrefour banner in West and Central Africa, including Ghana, Senegal, Gabon, Congo, the Democratic Republic of Congo, Cameroon, Nigeria and Cote d'Ivoire.

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