Nigeria - Butter And Ghee - Market Analysis, Forecast, Size, Trends and Insights
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View PricingButter and Ghee Price in Nigeria - 2022
Contents:
- Butter and Ghee Price in Nigeria (CIF) - 2022
- Butter and Ghee Price in Nigeria (FOB) - 2022
- Butter and Ghee Imports in Nigeria
- Butter and Ghee Exports in Nigeria
Butter and Ghee Price in Nigeria (CIF) - 2022
The average butter and ghee import price stood at $4,423 per ton in 2022, picking up by 74% against the previous year. Over the period under review, the import price showed a perceptible increase. The import price peaked at $5,244 per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($6,584 per ton), while the price for Malaysia ($540 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Barbados (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Butter and Ghee Price in Nigeria (FOB) - 2022
The average butter and ghee export price stood at $1,754 per ton in 2022, picking up by 31% against the previous year. Overall, the export price posted resilient growth. The growth pace was the most rapid in 2013 when the average export price increased by 264%. The export price peaked at $4,155 per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for the United States.
From 2012 to 2022, the rate of growth in terms of prices for Ethiopia amounted to +85.2% per year.
Butter and Ghee Imports in Nigeria
In 2022, purchases abroad of butter and ghee decreased by -33.8% to 2.2K tons, falling for the second consecutive year after two years of growth. Overall, imports recorded a abrupt downturn. The pace of growth was the most pronounced in 2020 with an increase of 64% against the previous year. As a result, imports attained the peak of 5.8K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, butter and ghee imports skyrocketed to $9.5M in 2022. In general, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 107%. As a result, imports reached the peak of $16M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
Import of Butter and Ghee in Nigeria (Thousand USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
New Zealand | 1,328 | 5,747 | 1,492 | 5,860 | 64.0% |
France | 1,230 | 2,058 | 650 | 1,362 | 3.5% |
Netherlands | 409 | 127 | 703 | 967 | 33.2% |
Denmark | 95.1 | 100 | 83.2 | 467 | 70.0% |
South Africa | 13.1 | 23.0 | 15.8 | 191 | 144.3% |
Germany | 114 | 132 | 89.3 | 136 | 6.1% |
India | 2.7 | 2.9 | 12.9 | 100 | 233.3% |
China | 16.9 | 190 | 4.8 | 81.7 | 69.1% |
Malaysia | 36.4 | 110 | 98.3 | 48.1 | 9.7% |
Indonesia | 630 | 715 | 396 | 42.4 | -59.3% |
Barbados | 2,299 | 3,843 | 2,867 | N/A | 11.7% |
Antigua and Barbuda | 198 | 474 | 329 | N/A | 28.9% |
Others | 1,253 | 2,286 | 1,513 | 262 | -40.6% |
Total | 7,625 | 15,808 | 8,254 | 9,518 | 7.7% |
Top Suppliers of Butter and Ghee to Nigeria in 2022:
- New Zealand (890.0 tons)
- France (467.2 tons)
- Netherlands (204.4 tons)
- India (131.4 tons)
- Denmark (96.2 tons)
- Malaysia (88.9 tons)
- China (71.8 tons)
- South Africa (56.6 tons)
- Germany (52.4 tons)
- Indonesia (30.6 tons)
Butter and Ghee Exports in Nigeria
In 2022, the amount of butter and ghee exported from Nigeria soared to 13 tons, rising by 23% on the year before. Over the period under review, exports showed a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 226% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, butter and ghee exports surged to $23K in 2022. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 347%. The exports peaked in 2022 and are likely to see gradual growth in years to come.
Export of Butter and Ghee in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United States | 3.6 | 2.6 | 9.7 | 22.8 | 85.0% |
Central African Republic | 0.4 | 0.4 | 1.9 | N/A | 117.9% |
Others | 0.1 | 0.2 | 2.6 | N/A | 409.9% |
Total | 4.2 | 3.2 | 14.2 | 22.8 | 75.7% |
Top Export Markets for Butter and Ghee from Nigeria in 2022:
- United States (13.0 tons)
This report provides an in-depth analysis of the butter and ghee 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:
- FCL 983 - Butter and Ghee of Sheep Milk
- FCL 1022 - Butter of Goat Milk
- FCL 952 - Butter of Buffalo Milk
- FCL 886 - Butter of Cow Milk
- FCL 887 - Ghee from Cow Milk
- FCL 953 - Ghee, from Buffalo Milk
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
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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
This report provides an in-depth analysis of the butter and ghee market in Nigeria.
This report provides an in-depth analysis of the ghee market in Nigeria.
This report provides an in-depth analysis of the butter market in Nigeria.
This report provides an in-depth analysis of the dairy produce market in Nigeria.
This report provides an in-depth analysis of the market for butter and dairy spreads in Nigeria.
This report provides an in-depth analysis of the dairy spread market in Nigeria.
This report provides an in-depth analysis of the global butter and ghee market.
This report provides an in-depth analysis of the global ghee market.
This report provides an in-depth analysis of the global butter market.
This report provides an in-depth analysis of the global dairy produce market.
Global butter and ghee consumption amounted to X thousand tons in 2015, remaining constant against the previous year level.
Global butter and ghee exports amounted to X thousand tons in 2015, coming down by -X% against the previous year level.
Global butter and ghee imports amounted to X thousand tons in 2015, descending by -X% against the previous year level.
In 2015, the countries with the highest levels of butter and ghee production were Turkey (X thousand tons), Iran (X thousand tons), Syria (X thousand tons), together accounting for X% of total output.
The global butter and ghee market fluctuated wildly, finally rising from X billion USD in 2007 to X billion USD in 2015.
The market of butter and ghee fluctuated wildly, finally rising from X billion USD in 2007 to X billion USD in 2015. Over the last year, the market dropped by X% in value terms.
New Zealand seized control of the butter and ghee market. In 2014, New Zealand exported X thousand tons of butter and ghee totaling X USD, X% over the previous year. Its primary trading partner was China, where it supplied X% of its total but
New Zealand continued its dominance in the global ghee trade. In 2014, New Zealand exported X thousand tons of ghee totaling X million USD, X% over the previous year. Its primary trading partner was China, where it supplied X% of its total ghee
This year global butter production is anticipated to keep up with ha last year, amounting to 5.6M tons. The EU is forecast to decrease butter exports due to a slight drop in production amid an increase in demand. Butter exports from New Zealand are not forecast to grow due to increased competition with UHT cream for food service being increasingly in demand.
The global trade in butter amounted to X million USD in 2015, fluctuating wildly over the period under review. A significant drop in 2009 was followed by a recovery over the next two years, until exports decreased again