Nigeria - Broken Rice - Market Analysis, Forecast, Size, Trends And Insights
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View PricingBroken Rice Price in Nigeria - 2021
Contents:
- Broken Rice Price in Nigeria (CIF) - 2022
- Broken Rice Price in Nigeria (FOB) - 2022
- Broken Rice Imports in Nigeria
- Broken Rice Exports in Nigeria
Broken Rice Price in Nigeria (CIF) - 2022
In 2022, the average broken rice import price amounted to $759 per ton, with an increase of 6.2% against the previous year. Over the period under review, the import price recorded a modest expansion. The most prominent rate of growth was recorded in 2018 an increase of 149%. As a result, import price attained the peak level of $1,197 per ton. From 2019 to 2022, the average import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($967 per ton), while the price for Turkey ($766 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+31.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Broken Rice Price in Nigeria (FOB) - 2022
The average broken rice export price stood at $798 per ton in 2022, reducing by -23% against the previous year. Over the period under review, the export price, however, showed prominent growth. The most prominent rate of growth was recorded in 2017 an increase of 281%. As a result, the export price attained the peak level of $1,379 per ton. From 2018 to 2022, the average export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($1,057 per ton), while the average price for exports to South Africa ($229 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Gambia (+30.1%), while the prices for the other major destinations experienced more modest paces of growth.
Broken Rice Imports in Nigeria
In 2022, the amount of broken rice imported into Nigeria rose remarkably to 197 tons, picking up by 6% against the year before. Overall, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 115%. As a result, imports attained the peak of 232 tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, broken rice imports expanded remarkably to $150K in 2022. In general, total imports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +23.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -10.0% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 111% against the previous year. As a result, imports reached the peak of $166K. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Broken Rice in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 25.0 | 107 | 92.6 | 134 | 75.0% |
| Germany | 0.3 | 0.4 | 2.7 | 6.4 | 177.3% |
| Turkey | N/A | N/A | N/A | 2.3 | 0% |
| United Arab Emirates | 52.7 | 58.7 | 32.3 | N/A | -21.7% |
| Others | 0.7 | 0.1 | 5.4 | 6.4 | 109.1% |
| Total | 78.7 | 166 | 133 | 150 | 24.0% |
Top Suppliers of Broken Rice to Nigeria in 2022:
- United States (168.5 tons)
- Germany (6.7 tons)
- Turkey (3.0 tons)
Broken Rice Exports in Nigeria
In 2022, exports of broken rice from Nigeria soared to 8.1 tons, with an increase of 17% compared with 2021 figures. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 43%. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, broken rice exports contracted to $6.5K in 2022. In general, exports recorded significant growth. The growth pace was the most rapid in 2020 with an increase of 165%.
| Export of Broken Rice in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 0.1 | 0.3 | 0.6 | 3.4 | 224.0% |
| United Kingdom | 1.2 | N/A | 2.2 | 3.0 | 35.7% |
| South Africa | 0.3 | 0.1 | 0.4 | 0.1 | -30.7% |
| Benin | N/A | 1.1 | N/A | N/A | 0% |
| Ireland | N/A | 0.1 | N/A | N/A | 0% |
| Gambia | N/A | 4.2 | 3.6 | N/A | -14.3% |
| United Arab Emirates | 0.5 | N/A | N/A | N/A | 0% |
| Others | 0.1 | N/A | 0.4 | N/A | 100.0% |
| Total | 2.2 | 5.8 | 7.2 | 6.5 | 43.5% |
Top Export Markets for Broken Rice from Nigeria in 2022:
- Canada (5.1 tons)
- United Kingdom (2.8 tons)
- South Africa (0.3 tons)
This report provides an in-depth analysis of the broken rice market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10611250 - Broken rice (including enriched rice, parboiled rice)
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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