Nigeria - Poultry - Market Analysis, Forecast, Size, Trends and Insights
Report Update: May 1, 2024

Nigeria - Poultry - Market Analysis, Forecast, Size, Trends and Insights

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Poultry Price in Nigeria - 2022

Contents:

  1. Poultry Price in Nigeria (CIF) - 2022
  2. Poultry Price in Nigeria (FOB) - 2022
  3. Poultry Imports in Nigeria
  4. Poultry Exports in Nigeria

Poultry Price in Nigeria (CIF) - 2022

In 2022, the average poultry import price amounted to $1,658 per ton, declining by -9% against the previous year. Overall, the import price recorded a perceptible setback. The pace of growth appeared the most rapid in 2021 an increase of 29% against the previous year. The import price peaked at $2,441 per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($7,781 per ton), while the price for South Africa ($1,032 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+17.6%), while the prices for the other major suppliers experienced a decline.

Poultry Price in Nigeria (FOB) - 2022

In 2022, the average poultry export price amounted to $2,258 per ton, dropping by -9.1% against the previous year. Overall, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, poultry export price increased by +50.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 65% against the previous year. As a result, the export price attained the peak level of $2,484 per ton, and then shrank in the following year.

As there is only one major export destination, the average price level is determined by prices for Ireland.

From 2012 to 2022, the rate of growth in terms of prices for Ireland amounted to +4.9% per year.

Poultry Imports in Nigeria

Poultry imports into Nigeria fell sharply to 109 tons in 2022, waning by -58% on the year before. Overall, imports saw a precipitous curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 72%.

In value terms, poultry imports declined significantly to $180K in 2022. In general, imports recorded a dramatic setback. The pace of growth appeared the most rapid in 2021 with an increase of 123% against the previous year.

Import of Poultry in Nigeria (Million USD)
COUNTRY2019202020212022CAGR,
2019-2022
South Africa0.1N/AN/A0.10.0%
Benin17.40.20.3N/A-86.9%
BelgiumN/AN/AN/AN/A0%
ItalyN/AN/AN/AN/A0%
Others0.6N/A0.1N/A-59.2%
Total18.10.20.50.2-77.7%

Top Suppliers of Poultry to Nigeria in 2022:

  1. South Africa (78.1 tons)
  2. Belgium (22.4 tons)
  3. Italy (3.3 tons)

Poultry Exports in Nigeria

In 2022, shipments abroad of poultry decreased by -6% to 4.9 tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 837%. As a result, the exports reached the peak of 18 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, poultry exports reduced to $11K in 2022. In general, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 627%. As a result, the exports attained the peak of $27K. From 2021 to 2022, the growth of the exports failed to regain momentum.

Export of Poultry in Nigeria (Thousand USD)
COUNTRY2019202020212022CAGR,
2019-2022
Ireland3.79.313.111.244.7%
GhanaN/A17.4N/AN/A0%
OthersN/AN/AN/AN/A0%
Total3.726.713.111.244.7%

Top Export Markets for Poultry from Nigeria in 2022:

  1. Ireland (4.9 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the poultry 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 1058 - Chicken meat
  • FCL 1059 - Offals and liver of chickens
  • FCL 1069 - Duck meat
  • FCL 1073 - Goose meat
  • FCL 1074 - Offals and liver of geese
  • FCL 1075 - Offals and liver of ducks
  • FCL 1080 - Turkey meat
  • FCL 1081 - Offals and liver of turkey

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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030
  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT
  5. 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
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES
  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS
  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION, PRODUCING ANIMALS AND YIELD
  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY
  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023
  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Yield And Growth
    16. Exports And Growth
    17. Export Prices And Growth
    18. Market Size And Growth
    19. Per Capita Consumption
    20. Imports And Growth
    21. Import Prices
    22. Production, In Physical Terms, 2012–2023
    23. Production, In Value Terms, 2012–2023
    24. Producing Animals Slaughtered, 2012–2023
    25. Yield, 2012–2023
    26. Imports, In Physical Terms, 2012–2023
    27. Imports, In Value Terms, 2012–2023
    28. Imports, In Physical Terms, By Country, 2023
    29. Imports, In Physical Terms, By Country, 2012–2023
    30. Imports, In Value Terms, By Country, 2012–2023
    31. Import Prices, By Country Of Origin, 2012–2023
    32. Exports, In Physical Terms, 2012–2023
    33. Exports, In Value Terms, 2012–2023
    34. Exports, In Physical Terms, By Country, 2023
    35. Exports, In Physical Terms, By Country, 2012–2023
    36. Exports, In Value Terms, By Country, 2012–2023
    37. Export Prices, By Country Of Destination, 2012–2023
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