Price for Cereal Flours; Other than of Wheat or Meslin in Nigeria - 2022

Contents:

1. Price for Cereal Flours; Other than of Wheat or Meslin in Nigeria (CIF) - 2022
2. Price for Cereal Flours; Other than of Wheat or Meslin in Nigeria (FOB) - 2022
3. Imports of Cereal Flours; Other than of Wheat or Meslin in Nigeria
4. Exports of Cereal Flours; Other than of Wheat or Meslin in Nigeria

Price for Cereal Flours; Other than of Wheat or Meslin in Nigeria (CIF) - 2022

In June 2022, the average import price for cereal flours; other than of wheat or meslin amounted to $1,728 per ton, jumping by 15% against the previous month. Overall, the import price enjoyed a buoyant increase. The growth pace was the most rapid in October 2021 when the average import price increased by 60% m-o-m. The import price peaked in June 2022.

There were significant differences in the average prices amongst the major supplying countries. In June 2022, the country with the highest price was China ($1,986 per ton), while the price for India ($1,321 per ton) was amongst the lowest.

From June 2021 to June 2022, the most notable rate of growth in terms of prices was attained by the UK (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cereal Flours; Other than of Wheat or Meslin in Nigeria (FOB) - 2022

In 2022, the average export price for cereal flours; other than of wheat or meslin amounted to $508 per ton, growing by 35% against the previous year. Overall, the export price, however, showed a deep setback. The pace of growth appeared the most rapid in 2016 when the average export price increased by 56%. The export price peaked at $2,194 per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($1,257 per ton), while the average price for exports to Ghana ($171 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 Ghana (-10.8%), while the prices for the other major destinations experienced a decline.

Imports of Cereal Flours; Other than of Wheat or Meslin in Nigeria

In 2022, the amount of cereal flours; other than of wheat or meslin imported into Nigeria surged to 50K tons, picking up by 856% against the previous year. In general, imports enjoyed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of cereal flours; other than of wheat or meslin soared to $64M in 2022. Overall, imports showed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Cereal Flours; Other than of Wheat or Meslin to Nigeria in 2022:

1. China (27.2K tons)
2. India (13.1K tons)
3. United Kingdom (6.8K tons)
4. South Africa (0.9K tons)

Exports of Cereal Flours; Other than of Wheat or Meslin in Nigeria

In 2022, the amount of cereal flours; other than of wheat or meslin exported from Nigeria soared to 1.4K tons, rising by 24% on 2021. In general, exports showed significant growth. The growth pace was the most rapid in 2020 when exports increased by 1,997% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, exports of cereal flours; other than of wheat or meslin soared to $706K in 2022. Overall, exports posted a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 1,506%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Top Export Markets for Cereal Flours; Other than of Wheat or Meslin from Nigeria in 2022:

1. United Kingdom (855.3 tons)
2. United States (281.8 tons)
3. Canada (64.5 tons)
4. Netherlands (53.3 tons)
5. Italy (44.1 tons)
6. Ghana (34.2 tons)

Source: IndexBox Market Intelligence Platform