Nigeria - Linseed Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingLinseed Oil Price in Nigeria - 2022
Contents:
- Linseed Oil Price in Nigeria (CIF) - 2022
- Linseed Oil Price in Nigeria (FOB) - 2022
- Linseed Oil Imports in Nigeria
- Linseed Oil Exports in Nigeria
Linseed Oil Price in Nigeria (CIF) - 2022
The average linseed oil import price stood at $1,535 per ton in 2022, declining by -3.9% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 24%. Over the period under review, average import prices attained the maximum at $2,060 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.
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 the United States ($3,208 per ton), while the price for Singapore ($1,258 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+16.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Linseed Oil Price in Nigeria (FOB) - 2022
The average linseed oil export price stood at $702 per ton in 2022, with a decrease of -4.7% against the previous year. Over the period under review, the export price, however, continues to indicate a prominent increase. The pace of growth was the most pronounced in 2013 an increase of 128% against the previous year. Over the period under review, the average export prices reached the peak figure at $970 per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($79,000 per ton), while the average price for exports to South Africa ($260 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 the Netherlands (+10,532.6%).
Linseed Oil Imports in Nigeria
After three years of growth, purchases abroad of linseed oil decreased by -23.2% to 362 tons in 2022. Overall, imports, however, posted significant growth. The pace of growth was the most pronounced in 2020 with an increase of 321% against the previous year.
In value terms, linseed oil imports declined notably to $556K in 2022. Over the period under review, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 262%.
| Import of Linseed Oil in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 4.3 | 247 | 62.4 | 384 | 347.0% |
| United States | 28.1 | 49.7 | 54.3 | 95.2 | 50.2% |
| Italy | 35.0 | 22.5 | 47.5 | 38.0 | 2.8% |
| India | 13.0 | 12.7 | 6.4 | 18.0 | 11.5% |
| Belgium | 15.3 | 17.8 | 16.0 | 10.5 | -11.8% |
| Turkey | 0.2 | 0.1 | 18.7 | 0.4 | 26.0% |
| Indonesia | N/A | N/A | 4.5 | N/A | 0% |
| United Arab Emirates | N/A | N/A | 493 | N/A | 0% |
| Others | 3.3 | 9.7 | 49.4 | 9.4 | 41.8% |
| Total | 99.2 | 359 | 752 | 556 | 77.6% |
Top Suppliers of Linseed Oil to Nigeria in 2022:
- Singapore (305.6 tons)
- United States (29.7 tons)
- Italy (14.8 tons)
- India (5.8 tons)
- Belgium (4.1 tons)
- Turkey (0.1 tons)
Linseed Oil Exports in Nigeria
In 2022, after three years of growth, there was significant decline in shipments abroad of linseed oil, when their volume decreased by -34.2% to 235 kg. Overall, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 1,178%.
In value terms, linseed oil exports declined notably to $165 in 2022. In general, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 1,000%.
| Export of Linseed Oil in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | N/A | N/A | 248 | 79.0 | -68.1% |
| South Africa | 6.0 | 7.0 | 9.0 | 54.0 | 108.0% |
| Ireland | N/A | N/A | N/A | 24.0 | 0% |
| Benin | N/A | 47.0 | N/A | N/A | 0% |
| Others | N/A | 12.0 | 6.0 | 8.0 | -18.4% |
| Total | 6.0 | 66.0 | 263 | 165 | 201.8% |
Top Export Markets for Linseed Oil from Nigeria in 2022:
- South Africa (208.0 kg)
- Ireland (16.0 kg)
- Netherlands (1.0 kg)
This report provides an in-depth analysis of the linseed oil 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 334 - Oil of Linseed
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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