Price for Cereal Grains; Rolled or Flaked, of Oats in Nigeria - 2023

Contents:

1. Price for Cereal Grains; Rolled or Flaked, of Oats in Nigeria (CIF) - 2022
2. Price for Cereal Grains; Rolled or Flaked, of Oats in Nigeria (FOB) - 2022
3. Imports of Cereal Grains; Rolled or Flaked, of Oats in Nigeria
4. Exports of Cereal Grains; Rolled or Flaked, of Oats in Nigeria

Price for Cereal Grains; Rolled or Flaked, of Oats in Nigeria (CIF) - 2022

The average import price for cereal grains; rolled or flaked, of oatses stood at $1,782 per ton in 2022, with an increase of 60% against the previous year. Over the period under review, the import price recorded moderate growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($2,058 per ton), while the price for Australia ($805 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cereal Grains; Rolled or Flaked, of Oats in Nigeria (FOB) - 2022

In 2022, the average export price for cereal grains; rolled or flaked, of oatses amounted to $1,179 per ton, rising by 214% against the previous year. Overall, the export price, however, saw a abrupt curtailment. Over the period under review, the average export prices hit record highs at $3,427 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($1,866 per ton), while the average price for exports to the United Arab Emirates ($236 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 Canada (+10.2%), while the prices for the other major destinations experienced a decline.

Imports of Cereal Grains; Rolled or Flaked, of Oats in Nigeria

In 2022, supplies from abroad of cereal grains; rolled or flaked, of oatses decreased by -23.4% to 15K tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 394% against the previous year. As a result, imports attained the peak of 24K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of cereal grains; rolled or flaked, of oatses surged to $27M in 2022. Overall, imports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 467% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Top Suppliers of Cereal Grains; Rolled or Flaked, of Oats to Nigeria in 2022:

1. United Kingdom (8.7K tons)
2. China (3.4K tons)
3. Australia (1.6K tons)
4. South Africa (0.3K tons)
5. Germany (0.2K tons)

Exports of Cereal Grains; Rolled or Flaked, of Oats in Nigeria

In 2022, the amount of cereal grains; rolled or flaked, of oatses exported from Nigeria contracted notably to 1.3 tons, falling by -74% on the previous year. Overall, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 356%. As a result, the exports reached the peak of 5 tons, and then dropped sharply in the following year.

In value terms, exports of cereal grains; rolled or flaked, of oatses dropped rapidly to $1.5K in 2022. Over the period under review, exports continue to indicate a slight curtailment. The growth pace was the most rapid in 2021 when exports increased by 25% against the previous year. As a result, the exports reached the peak of $1.9K, and then fell notably in the following year.

Top Export Markets for Cereal Grains; Rolled or Flaked, of Oats from Nigeria in 2022:

1. Canada (603.0 kg)
2. United Arab Emirates (602.0 kg)
3. Angola (56.0 kg)

Source: IndexBox Market Intelligence Platform