Price for Cereals; Millet, Other than Seed in Nigeria - 2022
Contents:
- Price for Cereals; Millet, Other than Seed in Nigeria (FOB) - 2022
- Price for Cereals; Millet, Other than Seed in Nigeria (CIF) - 2022
- Exports of Cereals; Millet, Other than Seed in Nigeria
- Imports of Cereals; Millet, Other than Seed in Nigeria
Price for Cereals; Millet, Other than Seed in Nigeria (FOB) - 2022
In 2022, the average export price for cereals; millet, other than seeds amounted to $54 per ton, dropping by -16.4% against the previous year. Overall, the export price faced a dramatic descent. The growth pace was the most rapid in 2021 an increase of 40% against the previous year. The export price peaked at $2,089 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Niger.
From 2012 to 2022, the rate of growth in terms of prices for Niger amounted to -29.9% per year.
Price for Cereals; Millet, Other than Seed in Nigeria (CIF) - 2022
In 2022, the average import price for cereals; millet, other than seeds amounted to $2,368 per ton, with an increase of 285% against the previous year. In general, the import price showed a strong increase. The most prominent rate of growth was recorded in 2019 when the average import price increased by 322% against the previous year. The import price peaked in 2022 and is likely to see steady growth in years to come.
As there is only one major supplying country, the average price level is determined by prices for China.
From 2012 to 2022, the rate of growth in terms of prices for China amounted to +35.5% per year.
Exports of Cereals; Millet, Other than Seed in Nigeria
In 2022, approx. 1K tons of cereals; millet, other than seeds were exported from Nigeria; rising by 159% compared with the previous year. Over the period under review, exports, however, showed a abrupt downturn.
In value terms, cereals; millet, other than seed exports soared to $54K in 2022. In general, exports, however, recorded a deep contraction.
| Export of Cereals; Millet, Other than Seed in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Niger | 69.7 | 63.9 | 24.8 | 53.7 | -8.3% |
| Others | 0.2 | 0.1 | N/A | N/A | -50.0% |
| Total | 70.0 | 64.0 | 24.8 | 53.7 | -8.5% |
Top Export Markets for Cereals; Millet, Other than Seed from Nigeria in 2022:
- Niger (1.0K tons)
Imports of Cereals; Millet, Other than Seed in Nigeria
In 2022, purchases abroad of cereals; millet, other than seeds decreased by -90.2% to 4 tons, falling for the second year in a row after two years of growth. Over the period under review, imports continue to indicate a precipitous decrease. The most prominent rate of growth was recorded in 2020 with an increase of 604%. As a result, imports attained the peak of 522 tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, cereals; millet, other than seed imports contracted sharply to $9.6K in 2022. Overall, imports showed a sharp decline. The pace of growth was the most pronounced in 2020 with an increase of 390% against the previous year. As a result, imports reached the peak of $570K. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Cereals; Millet, Other than Seed in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | N/A | N/A | N/A | 9.6 | 0% |
| United Kingdom | 111 | 566 | N/A | N/A | 409.9% |
| India | 3.1 | 3.3 | 2.9 | N/A | -3.3% |
| South Africa | N/A | N/A | 22.3 | N/A | 0% |
| Others | 2.4 | 0.1 | N/A | N/A | -95.8% |
| Total | 116 | 570 | 25.3 | 9.6 | -56.4% |
Top Suppliers of Cereals; Millet, Other than Seed to Nigeria in 2022:
- China (4.0 tons)
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