Price for Animal Products; Ossein and Bones Treated with Acid in Nigeria - 2022
Contents:
- Price for Animal Products; Ossein and Bones Treated with Acid in Nigeria (FOB) - 2022
- Exports of Animal Products; Ossein and Bones Treated with Acid in Nigeria
Price for Animal Products; Ossein and Bones Treated with Acid in Nigeria (FOB) - 2022
In 2022, the average export price for animal products; ossein and bones treated with acids amounted to $1,061 per ton, falling by -8.4% against the previous year. Over the period under review, the export price continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2016 when the average export price increased by 38%. As a result, the export price attained the peak level of $5,550 per ton. From 2017 to 2022, the average 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 Germany ($4,991 per ton), while the average price for exports to Vietnam ($372 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+0.8%), while the prices for the other major destinations experienced a decline.
Exports of Animal Products; Ossein and Bones Treated with Acid in Nigeria
In 2022, approx. 287 tons of animal products; ossein and bones treated with acids were exported from Nigeria; increasing by 44% compared with the previous year's figure. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 2,132% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the near future.
In value terms, exports of animal products; ossein and bones treated with acids surged to $305K in 2022. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 1,153%. The exports peaked in 2022 and are likely to see gradual growth in years to come.
| Export of Animal Products; Ossein and Bones Treated with Acid in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 3.5 | 5.7 | 95.6 | 232 | 304.7% |
| Vietnam | 2.1 | 1.6 | 43.0 | 42.4 | 172.3% |
| India | 0.7 | 0.7 | 4.6 | 20.7 | 209.2% |
| Germany | 5.2 | 3.4 | 15.5 | 9.0 | 20.1% |
| United Kingdom | 5.7 | 7.0 | 58.4 | N/A | 220.1% |
| Japan | N/A | N/A | 1.4 | N/A | 0% |
| Ukraine | N/A | N/A | 6.6 | N/A | 0% |
| Others | 1.6 | N/A | 6.5 | N/A | 101.6% |
| Total | 18.8 | 18.5 | 232 | 305 | 153.2% |
Top Export Markets for Animal Products; Ossein and Bones Treated with Acid from Nigeria in 2022:
- China (149.1 tons)
- Vietnam (114.0 tons)
- India (22.0 tons)
- Germany (1.8 tons)
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