Nigeria - Castor Oil Seed - Market Analysis, Forecast, Size, Trends and Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingCastor Oil Seed Price in Nigeria - 2022
Contents:
- Castor Oil Seed Price in Nigeria (CIF) - 2022
- Castor Oil Seed Price in Nigeria (FOB) - 2022
- Castor Oil Seed Imports in Nigeria
- Castor Oil Seed Exports in Nigeria
Castor Oil Seed Price in Nigeria (CIF) - 2022
The average castor oil seed import price stood at $2,073 per ton in 2022, reducing by -6.3% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 64% against the previous year. The import price peaked at $2,279 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($4,400 per ton), while the price for the Netherlands ($249 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+18.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Castor Oil Seed Price in Nigeria (FOB) - 2022
In 2022, the average castor oil seed export price amounted to $4,825 per ton, reducing by -18.5% against the previous year. In general, the export price, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 131% against the previous year. Over the period under review, the average export prices reached the peak figure at $5,917 per ton in 2021, and then shrank remarkably in the following year.
Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($6,600 per ton), while the average price for exports to South Africa ($4,455 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 Canada (+12.4%).
Castor Oil Seed Imports in Nigeria
In 2022, approx. 415 tons of castor oil seed were imported into Nigeria; rising by 21% against the previous year's figure. Overall, total imports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +5.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -21.9% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 52%. As a result, imports attained the peak of 531 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, castor oil seed imports rose sharply to $861K in 2022. In general, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +15.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -10.7% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 72% against the previous year. As a result, imports attained the peak of $964K. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Castor Oil Seed in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 84.5 | 144 | 187 | 241 | 41.8% |
| India | 101 | 434 | 183 | 240 | 33.4% |
| United Arab Emirates | 94.3 | 139 | 114 | 125 | 9.8% |
| Spain | 36.1 | 76.0 | 63.1 | 69.4 | 24.3% |
| China | 49.8 | 57.6 | 35.3 | 55.3 | 3.6% |
| Italy | N/A | N/A | 1.4 | 40.4 | 2785.7% |
| Netherlands | 27.8 | 36.0 | 26.0 | 25.1 | -3.3% |
| Others | 167 | 77.4 | 148 | 64.3 | -27.3% |
| Total | 560 | 964 | 758 | 861 | 15.4% |
Top Suppliers of Castor Oil Seed to Nigeria in 2022:
- Netherlands (100.6 tons)
- India (93.3 tons)
- United Arab Emirates (72.5 tons)
- United Kingdom (54.7 tons)
- Spain (33.9 tons)
- China (30.0 tons)
- Italy (12.1 tons)
Castor Oil Seed Exports in Nigeria
In 2022, after two years of decline, there was significant growth in shipments abroad of castor oil seed, when their volume increased by 375% to 57 kg. Over the period under review, exports, however, saw a dramatic decrease.
In value terms, castor oil seed exports soared to $275 in 2022. In general, exports, however, continue to indicate a precipitous shrinkage.
| Export of Castor Oil Seed in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Africa | 820 | 295 | 39.0 | 196 | -37.9% |
| Canada | 64.0 | 19.0 | 2.0 | 33.0 | -19.8% |
| Ireland | N/A | N/A | N/A | 23.0 | 0% |
| Others | N/A | 163 | 30.0 | 23.0 | -62.4% |
| Total | 884 | 477 | 71.0 | 275 | -32.2% |
Top Export Markets for Castor Oil Seed from Nigeria in 2022:
- South Africa (44.0 kg)
- Canada (5.0 kg)
- Ireland (4.0 kg)
This report provides an in-depth analysis of the castor oil seed 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 266 -
- JSIC 0981 -
- JSIC 0982 -
- JSIC 1063 -
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.
-
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
-
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
-
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
-
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
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
-
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, HARVESTED AREA AND YIELD
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
-
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
-
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
- Yield 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
- Area Harvested, 2012–2023
- Yield, 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
1196
This report provides an in-depth analysis of the castor oil seed market in Nigeria.
794
This report provides an in-depth analysis of the linseed oil market in Nigeria.
624
This report provides an in-depth analysis of the maize oil market in Nigeria.
1045
This report provides an in-depth analysis of the sesame oil market in Nigeria.
475
This report provides an in-depth analysis of the crude maize oil market in Nigeria.
858
This report provides an in-depth analysis of the refined maize oil market in Nigeria.
2145
Global Castor Oil Seed Market Report 2019. This report provides an in-depth analysis of the global castor oil seed market.
4010
This report provides an in-depth analysis of the global linseed oil market.
1352
This report provides an in-depth analysis of the global maize oil market.
1965
This report provides an in-depth analysis of the global sesame oil market.
3857
Global castor oil seed consumption amounted to X thousand tons in 2015, surging by +X% against the previous year level.
9864
In 2015, the country with the largest volume of the castor oil seed output was India (X thousand tons), accounting for X% of global production.
1620
Despite a rocky 2014, Paraguay continued its dominance in the global castor oil seed trade. In 2014, Paraguay exported X tons of castor oil seed totaling X thousand USD, X% under the previous year. Its only trading partner was Brazil, where
2210
Global linseed oil consumption amounted to X thousand tons in 2015, shrinking by -X% against the previous year level.
3377
In 2015, the countries with the highest levels of linseed oil production were China (X thousand tons), Belgium (X thousand tons), the United States (X thousand tons), together accounting for X% of total output.
1823
Belgium continued its dominance in the global linseed oil trade. In 2014, Belgium exported X thousand tons of linseed oil totaling X million USD, X% under the previous year. Its primary trading partner was Germany, where it supplied X% of its to
1510
Global maize oil consumption amounted to X thousand tons in 2015, falling by -X% against the previous year level.
1440
In 2015, the country with the largest volume of the maize oil output was the United States (X thousand tons), accounting for X% of global production.
1722
The maize oil market reached X million USD, rising with an annual increase of X%.
1403
The U.S. dominates in the global maize oil trade. In 2014, the U.S. exported X thousand tons of maize oil totaling X million USD, X% under the previous year. Its primary trading partner was Saudi Arabia, where it supplied X% of its total maize
