Price for Cereals; Oats, Other than Seed in Nigeria - 2023
Contents:
- Price for Cereals; Oats, Other than Seed in Nigeria (CIF) - 2022
- Price for Cereals; Oats, Other than Seed in Nigeria (FOB) - 2022
- Imports of Cereals; Oats, Other than Seed in Nigeria
- Exports of Cereals; Oats, Other than Seed in Nigeria
Price for Cereals; Oats, Other than Seed in Nigeria (CIF) - 2022
The average import price for cereals; oats, other than seeds stood at $575 per ton in 2022, with a decrease of -32.7% against the previous year. In general, the import price, however, enjoyed a perceptible expansion. The most prominent rate of growth was recorded in 2014 an increase of 73%. The import price peaked at $1,333 per ton in 2019; however, from 2020 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 Canada ($1,526 per ton), while the price for the United States ($140 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+12.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cereals; Oats, Other than Seed in Nigeria (FOB) - 2022
In 2022, the average export price for cereals; oats, other than seeds amounted to $1,343 per ton, jumping by 55% against the previous year. Overall, the export price continues to indicate a buoyant increase. Over the period under review, the average export prices hit record highs at $1,952 per ton in 2018; however, from 2019 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 Ghana ($1,483 per ton), while the average price for exports to the United Arab Emirates stood at $698 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+6.3%).
Imports of Cereals; Oats, Other than Seed in Nigeria
In 2022, purchases abroad of cereals; oats, other than seeds decreased by -29.1% to 404 tons, falling for the second consecutive year after two years of growth. In general, imports, however, showed a moderate expansion. The growth pace was the most rapid in 2020 when imports increased by 428% against the previous year. As a result, imports attained the peak of 1.9K tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, cereals; oats, other than seed imports contracted sharply to $232K in 2022. Over the period under review, imports showed a significant curtailment. The pace of growth appeared the most rapid in 2020 when imports increased by 304%. As a result, imports attained the peak of $2M. From 2021 to 2022, the growth of imports remained at a lower figure.
| Import of Cereals; Oats, Other than Seed in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 97.1 | 85.4 | 209 | 95.2 | -0.7% |
| Canada | 43.5 | 60.2 | 44.5 | 58.9 | 10.6% |
| United States | 11.2 | 44.2 | 46.5 | 26.5 | 33.3% |
| India | 63.8 | 60.5 | 30.7 | 22.9 | -28.9% |
| United Arab Emirates | 17.5 | 36.4 | 13.1 | 17.6 | 0.2% |
| China | 246 | 1,671 | 31.3 | 11.0 | -64.5% |
| Others | 7.7 | 10.6 | 111 | N/A | 279.7% |
| Total | 487 | 1,968 | 486 | 232 | -21.9% |
Top Suppliers of Cereals; Oats, Other than Seed to Nigeria in 2022:
- United States (189.4 tons)
- United Kingdom (105.9 tons)
- Canada (38.6 tons)
- United Arab Emirates (24.5 tons)
- India (23.2 tons)
- China (22.2 tons)
Exports of Cereals; Oats, Other than Seed in Nigeria
In 2022, the amount of cereals; oats, other than seeds exported from Nigeria skyrocketed to 4 tons, rising by 1,001% compared with 2021. In general, exports, however, recorded a dramatic descent.
In value terms, cereals; oats, other than seed exports soared to $5.4K in 2022. Overall, exports, however, continue to indicate a precipitous decrease.
| Export of Cereals; Oats, Other than Seed in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ghana | 27.7 | N/A | 0.3 | 4.9 | -43.9% |
| United Arab Emirates | N/A | N/A | N/A | 0.5 | 0% |
| Others | 0.1 | N/A | N/A | 0.1 | 0.0% |
| Total | 27.8 | N/A | 0.3 | 5.4 | -42.1% |
Top Export Markets for Cereals; Oats, Other than Seed from Nigeria in 2022:
- Ghana (3.3 tons)
- United Arab Emirates (0.7 tons)
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