Price for Cereal Groats; Meal and Pellets in Nigeria - 2022
Contents:
- Price for Cereal Groats; Meal and Pellets in Nigeria (CIF) - 2022
- Price for Cereal Groats; Meal and Pellets in Nigeria (FOB) - 2022
- Imports of Cereal Groats; Meal and Pellets in Nigeria
- Exports of Cereal Groats; Meal and Pellets in Nigeria
Price for Cereal Groats; Meal and Pellets in Nigeria (CIF) - 2022
The average import price for cereal groats; meal and pelletses stood at $1,573 per ton in June 2022, rising by 30% against the previous month. Overall, import price indicated perceptible growth from June 2021 to June 2022: its price increased at an average monthly rate of +4.9% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2022 figures, cereal groats; meal and pellets import price increased by +30.4% against May 2022 indices. The most prominent rate of growth was recorded in December 2021 when the average import price increased by 80% m-o-m. As a result, import price attained the peak level of $1,756 per ton. From January 2022 to June 2022, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2022, the country with the highest price was China ($2,380 per ton), while the price for India ($1,512 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 China (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cereal Groats; Meal and Pellets in Nigeria (FOB) - 2022
The average export price for cereal groats; meal and pelletses stood at $647 per ton in 2022, dropping by -15.6% against the previous year. Over the period under review, the export price, however, showed a moderate increase. The growth pace was the most rapid in 2014 an increase of 145% against the previous year. Over the period under review, the average export prices reached the maximum at $1,168 per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($1,218 per ton), while the average price for exports to South Africa ($180 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 (+4.6%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Cereal Groats; Meal and Pellets in Nigeria
In 2022, purchases abroad of cereal groats; meal and pelletses decreased by -35.6% to 33K tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, posted a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 334% against the previous year. As a result, imports reached the peak of 65K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, cereal groats; meal and pellets imports reduced markedly to $16M in 2022. In general, imports, however, posted a buoyant increase. The growth pace was the most rapid in 2020 when imports increased by 381%. As a result, imports attained the peak of $60M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Cereal Groats; Meal and Pellets in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | N/A | N/A | N/A | 6.7 | 0% |
| United Kingdom | 1.1 | 18.3 | 20.8 | 4.3 | 57.5% |
| India | 3.1 | 19.9 | 19.3 | 4.0 | 8.9% |
| Turkey | 3.4 | 5.1 | 2.1 | 0.3 | -55.5% |
| South Africa | 3.2 | 9.3 | 1.4 | N/A | -33.9% |
| Others | 1.7 | 7.4 | 3.3 | 0.7 | -25.6% |
| Total | 12.5 | 60.0 | 47.0 | 16.1 | 8.8% |
Top Suppliers of Cereal Groats; Meal and Pellets to Nigeria in 2022:
- South Africa (undefinedK tons)
- China (22.6K tons)
- United Kingdom (4.6K tons)
- India (4.0K tons)
- Turkey (0.4K tons)
Exports of Cereal Groats; Meal and Pellets in Nigeria
In 2022, approx. 366 tons of cereal groats; meal and pelletses were exported from Nigeria; growing by 13% compared with 2021 figures. Over the period under review, exports recorded a strong expansion. The growth pace was the most rapid in 2021 with an increase of 67% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the near future.
In value terms, cereal groats; meal and pellets exports fell slightly to $237K in 2022. The total export value increased at an average annual rate of +3.8% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 9.7%. As a result, the exports reached the peak of $248K, and then fell slightly in the following year.
| Export of Cereal Groats; Meal and Pellets in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 112 | 160 | 164 | 107 | -1.5% |
| Canada | 38.7 | 29.5 | 43.0 | 64.1 | 18.3% |
| South Africa | 5.7 | 2.6 | 8.9 | 20.1 | 52.2% |
| France | 15.6 | 5.9 | 7.4 | 13.4 | -4.9% |
| Ghana | 4.5 | 4.8 | 5.5 | 6.8 | 14.8% |
| Ireland | 3.4 | 2.9 | 3.4 | 4.2 | 7.3% |
| United Kingdom | 21.5 | 5.0 | 4.3 | 3.1 | -47.6% |
| Others | 10.6 | 15.1 | 11.6 | 18.4 | 20.2% |
| Total | 212 | 226 | 248 | 237 | 3.8% |
Top Export Markets for Cereal Groats; Meal and Pellets from Nigeria in 2022:
- South Africa (111.7 tons)
- United States (87.5 tons)
- Canada (74.5 tons)
- Ghana (19.8 tons)
- France (19.6 tons)
- United Kingdom (14.6 tons)
- Ireland (12.1 tons)
343
This report provides an in-depth analysis of the non-wheat cereal pellets market in Nigeria.
422
This report provides an in-depth analysis of the non-wheat groats market in Nigeria.
354
This report provides an in-depth analysis of the market for wheat and spelt groats in Nigeria.
351
This report provides an in-depth analysis of the durum wheat meals market in Nigeria.
399
This report provides an in-depth analysis of the wheat pellets market in Nigeria.
857
This report provides an in-depth analysis of the global non-wheat cereal pellets market.
957
This report provides an in-depth analysis of the global non-wheat groats market.
451
Global Wheat And Spelt Groats Market Report 2018. This report provides an in-depth analysis of the global market for wheat and spelt groats.
455
Global Durum Wheat Meals Market Report 2018. This report provides an in-depth analysis of the global durum wheat meals market.
504
Global Wheat Pellets Market Report 2018. This report provides an in-depth analysis of the global wheat pellets market.
Nothing found. Please try again.
