Price for Crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster) in Nigeria - 2022
Contents:
- Price for Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in Nigeria (CIF) - 2022
- Price for Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in Nigeria (FOB) - 2022
- Imports of Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in Nigeria
- Exports of Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in Nigeria
Price for Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in Nigeria (CIF) - 2022
In 2022, the average import price for crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster)s amounted to $50 per ton, reducing by -98.6% against the previous year. Over the period under review, the import price continues to indicate a precipitous decline. The most prominent rate of growth was recorded in 2014 when the average import price increased by 31%. Over the period under review, average import prices hit record highs at $7,667 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for Indonesia.
From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to -11.7% per year.
Price for Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in Nigeria (FOB) - 2022
The average export price for crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster)s stood at $6,182 per ton in 2022, falling by -5.5% against the previous year. Over the period under review, the export price showed a noticeable shrinkage. The growth pace was the most rapid in 2018 when the average export price increased by 56% against the previous year. Over the period under review, the average export prices attained the maximum at $10,149 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Cambodia ($6,486 per ton) and the United States ($6,081 per ton), while the average price for exports to Australia ($5,614 per ton) and Canada ($5,615 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (+3.9%), while the prices for the other major destinations experienced a decline.
Imports of Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in Nigeria
In 2022, approx. 119 kg of crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster)s were imported into Nigeria; growing by 10% compared with the year before. The total import volume increased at an average annual rate of +10.2% from 2021 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster)s reduced notably to $6 in 2022. In general, imports, however, faced a precipitous contraction.
| Import of Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2021 | 2022 | CAGR, 2021-2022 | ||
| Indonesia | N/A | 6.0 | 0% | ||
| Rwanda | 399 | N/A | 0% | ||
| Others | N/A | N/A | 0% | ||
| Total | 399 | 6.0 | -98.5% | ||
Top Suppliers of Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) to Nigeria in 2022:
- Indonesia (119.0 kg)
Exports of Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in Nigeria
In 2022, exports of crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster)s from Nigeria soared to 26 tons, with an increase of 30% against 2021. Over the period under review, total exports indicated perceptible growth from 2019 to 2022: its volume increased at an average annual rate of +3.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -24.5% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 46% against the previous year. As a result, the exports reached the peak of 34 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster)s skyrocketed to $160K in 2022. In general, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +8.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -15.5% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 50%. As a result, the exports attained the peak of $189K. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cambodia | 3.0 | 16.1 | 28.0 | 86.7 | 206.9% |
| United States | 113 | 149 | 88.9 | 37.0 | -31.1% |
| Canada | 3.0 | 5.5 | 8.1 | 27.6 | 109.5% |
| Australia | 6.5 | 18.1 | 5.1 | 7.9 | 6.7% |
| Others | N/A | 0.5 | N/A | 0.3 | -22.5% |
| Total | 126 | 189 | 130 | 160 | 8.3% |
Top Export Markets for Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) from Nigeria in 2022:
- Cambodia (13.4 tons)
- United States (6.1 tons)
- Canada (4.9 tons)
- Australia (1.4 tons)
328
This report provides an in-depth analysis of the market for prepared or preserved crab meat in Nigeria.
512
This report provides an in-depth analysis of the global market for prepared or preserved crab meat.
328
This report provides an in-depth analysis of the market for prepared or preserved crab meat in Nigeria.
512
This report provides an in-depth analysis of the global market for prepared or preserved crab meat.
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