Price for Buckwheat, Millet and Canary Seed; Other Cereals in Nigeria - 2022
Contents:
- Price for Buckwheat, Millet and Canary Seed; Other Cereals in Nigeria (FOB) - 2022
- Price for Buckwheat, Millet and Canary Seed; Other Cereals in Nigeria (CIF) - 2022
- Exports of Buckwheat, Millet and Canary Seed; Other Cereals in Nigeria
- Imports of Buckwheat, Millet and Canary Seed; Other Cereals in Nigeria
Price for Buckwheat, Millet and Canary Seed; Other Cereals in Nigeria (FOB) - 2022
In 2022, the average export price for buckwheat, millet and canary seed; other cerealses amounted to $1,388 per ton, shrinking by -54.7% against the previous year. Overall, the export price, however, continues to indicate tangible growth. The pace of growth was the most pronounced in 2017 a decrease of -2.8%. The export price peaked at $3,062 per ton in 2021, and then contracted markedly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ghana ($3,682 per ton), while the average price for exports to Niger ($54 per ton) was amongst the lowest.
From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+51.2%).
Price for Buckwheat, Millet and Canary Seed; Other Cereals in Nigeria (CIF) - 2022
The average import price for buckwheat, millet and canary seed; other cerealses stood at $1,193 per ton in 2022, waning by -2.3% against the previous year. Overall, the import price, however, saw mild growth. The pace of growth appeared the most rapid in 2013 when the average import price increased by 125%. The import price peaked at $2,637 per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($3,054 per ton), while the price for Portugal ($374 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+66.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Buckwheat, Millet and Canary Seed; Other Cereals in Nigeria
In 2022, exports of buckwheat, millet and canary seed; other cerealses from Nigeria soared to 1.6K tons, with an increase of 35% against 2021 figures. The total export volume increased at an average annual rate of +34.8% over the period from 2021 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of buckwheat, millet and canary seed; other cerealses dropped significantly to $2.2M in 2022. Over the period under review, exports, however, saw a precipitous setback.
| Export of Buckwheat, Millet and Canary Seed; Other Cereals in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2021 | 2022 | CAGR, 2021-2022 | ||
| Ghana | 1,310 | 1,495 | 14.1% | ||
| Cote d'Ivoire | 1,310 | 337 | -74.3% | ||
| Niger | N/A | 53.7 | 0% | ||
| Netherlands | 989 | N/A | 0% | ||
| Others | 3.1 | 321 | 10254.8% | ||
| Total | 3,612 | 2,207 | -38.9% | ||
Top Export Markets for Buckwheat, Millet and Canary Seed; Other Cereals from Nigeria in 2022:
- Niger (1000.0 tons)
- Ghana (406.0 tons)
- Cote d'Ivoire (93.3 tons)
Imports of Buckwheat, Millet and Canary Seed; Other Cereals in Nigeria
In 2022, purchases abroad of buckwheat, millet and canary seed; other cerealses decreased by -79.2% to 369 tons, falling for the second consecutive year after two years of growth. In general, imports recorded a sharp contraction. The most prominent rate of growth was recorded in 2020 with an increase of 379% against the previous year. As a result, imports attained the peak of 45K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of buckwheat, millet and canary seed; other cerealses contracted rapidly to $441K in 2022. Over the period under review, imports continue to indicate a sharp contraction. The most prominent rate of growth was recorded in 2020 with an increase of 371% against the previous year. As a result, imports reached the peak of $63M. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Buckwheat, Millet and Canary Seed; Other Cereals in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 7.4 | 26.6 | 1.1 | 0.2 | -70.0% |
| Singapore | 0.3 | 0.2 | N/A | 0.1 | -30.7% |
| Argentina | N/A | N/A | N/A | N/A | 0% |
| United Kingdom | 3.9 | 34.8 | 0.7 | N/A | -57.6% |
| India | 0.1 | 0.2 | 0.1 | N/A | 0.0% |
| Portugal | N/A | N/A | N/A | N/A | 0% |
| Others | 1.6 | 1.1 | 0.3 | N/A | -56.7% |
| Total | 13.4 | 62.9 | 2.2 | 0.4 | -69.0% |
Top Suppliers of Buckwheat, Millet and Canary Seed; Other Cereals to Nigeria in 2022:
- China (232.4 tons)
- Portugal (56.7 tons)
- Singapore (47.0 tons)
- India (26.8 tons)
- Argentina (6.0 tons)
- United Kingdom (0.3 tons)
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