Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in Nigeria - 2023
Contents:
- Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in Nigeria (CIF) - 2022
- Imports of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in Nigeria
Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in Nigeria (CIF) - 2022
The average import price for fats and oils and their fractions; of fish, (excluding liver-oils)s stood at $2,164 per ton in 2022, surging by 54% against the previous year. Over the period under review, the import price continues to indicate perceptible growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Turkey ($2,557 per ton) and Chile ($2,364 per ton), while the price for Latvia ($1,975 per ton) and Germany ($2,158 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+50.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in Nigeria
In 2022, purchases abroad of fats and oils and their fractions; of fish, (excluding liver-oils)s decreased by -15.4% to 2K tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 174% against the previous year.
In value terms, imports of fats and oils and their fractions; of fish, (excluding liver-oils)s surged to $4.3M in 2022. In general, imports, however, recorded significant growth. The growth pace was the most rapid in 2020 with an increase of 199% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in years to come.
| Import of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 1.4 | 867 | 316 | 1,371 | 893.0% |
| Latvia | 298 | 71.6 | 282 | 1,187 | 58.5% |
| Chile | N/A | N/A | 1,153 | 614 | -46.7% |
| Turkey | N/A | N/A | N/A | 511 | 0% |
| Brazil | 206 | 96.2 | N/A | 494 | 33.9% |
| Lithuania | N/A | N/A | 1,287 | N/A | 0% |
| Poland | N/A | 979 | 76.4 | N/A | -92.2% |
| Others | 167 | 0.2 | 185 | 115 | -11.7% |
| Total | 673 | 2,013 | 3,299 | 4,291 | 85.4% |
Top Suppliers of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) to Nigeria in 2022:
- Germany (635.4 tons)
- Latvia (600.8 tons)
- Chile (259.6 tons)
- Brazil (222.0 tons)
- Turkey (199.8 tons)
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This report provides an in-depth analysis of the market for fish fat and oil in Nigeria.
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This report provides an in-depth analysis of the global market for fish fat and oil.
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This report provides an in-depth analysis of the market for fish fat and oil in Nigeria.
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This report provides an in-depth analysis of the global market for fish fat and oil.
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Over the past decade, global production of fish fat and oil rose from 3.7M tons to 11.3M tons. In value terms, production expanded significantly from $6.5B to $16.7B estimated in export prices.
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Over the past decade, global production of fish fat and oil rose from 3.7M tons to 11.3M tons. In value terms, production expanded significantly from $6.5B to $16.7B estimated in export prices.
