Price for Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell in Nigeria - 2023
Contents:
- Price for Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell in Nigeria (FOB) - 2022
- Price for Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell in Nigeria (CIF) - 2022
- Exports of Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell in Nigeria
- Imports of Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell in Nigeria
Price for Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell in Nigeria (FOB) - 2022
The average export price for ground-nuts; other than seed, not roasted or otherwise cooked, in shell stood at $1,091 per ton in 2022, picking up by 84% against the previous year. Overall, the export price, however, saw a deep setback. The growth pace was the most rapid in 2018 when the average export price increased by 112% against the previous year. Over the period under review, the average export prices attained the peak figure at $2,932 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($1,560 per ton), while the average price for exports to Niger ($181 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 Niger (-5.5%), while the prices for the other major destinations experienced a decline.
Price for Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell in Nigeria (CIF) - 2022
The average import price for ground-nuts; other than seed, not roasted or otherwise cooked, in shell stood at $1,757 per ton in 2022, increasing by 73% against the previous year. Over the period under review, the import price posted a significant expansion. The pace of growth appeared the most rapid in 2018 when the average import price increased by 95% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Cameroon ($2,962 per ton), while the price for Niger amounted to $1,709 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (+35.0%).
Exports of Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell in Nigeria
Exports of ground-nuts; other than seed, not roasted or otherwise cooked, in shell from Nigeria surged to 1.1K tons in 2022, with an increase of 397% on 2021 figures. Over the period under review, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 436% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, exports of ground-nuts; other than seed, not roasted or otherwise cooked, in shell surged to $1.2M in 2022. Overall, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Turkey | 23.1 | N/A | N/A | 390 | 156.5% |
| Iraq | N/A | N/A | N/A | 367 | 0% |
| Pakistan | N/A | N/A | N/A | 216 | 0% |
| Indonesia | N/A | N/A | N/A | 194 | 0% |
| Niger | 6.9 | 3.1 | 7.6 | 32.7 | 68.0% |
| United Arab Emirates | 25.2 | 20.4 | 33.5 | 23.6 | -2.2% |
| United Kingdom | 5.6 | 7.0 | 91.8 | 6.9 | 7.2% |
| Others | 0.8 | 1.7 | 2.8 | 8.8 | 122.4% |
| Total | 61.5 | 32.2 | 136 | 1,239 | 172.1% |
Top Export Markets for Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell from Nigeria in 2022:
- Iraq (263.6 tons)
- Turkey (249.9 tons)
- Pakistan (244.9 tons)
- Niger (180.5 tons)
- Indonesia (167.3 tons)
- United Arab Emirates (15.3 tons)
- United Kingdom (6.9 tons)
Imports of Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell in Nigeria
In 2022, the amount of ground-nuts; other than seed, not roasted or otherwise cooked, in shell imported into Nigeria reduced dramatically to 9.8 tons, waning by -21.5% compared with 2021 figures. Over the period under review, imports faced a precipitous setback.
In value terms, imports of ground-nuts; other than seed, not roasted or otherwise cooked, in shell skyrocketed to $17K in 2022. In general, imports showed a sharp curtailment.
| Import of Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Niger | 28.7 | 13.6 | 10.6 | 16.3 | -17.2% |
| Cameroon | 6.8 | 1.0 | 0.3 | 0.9 | -49.0% |
| United States | N/A | 3.9 | 1.8 | N/A | -53.8% |
| Others | N/A | N/A | N/A | 0.1 | 0% |
| Total | 35.6 | 18.5 | 12.7 | 17.3 | -21.4% |
Top Suppliers of Ground-Nuts; Other than Seed, Not Roasted or Otherwise Cooked, in Shell to Nigeria in 2022:
- Niger (9.5 tons)
- Cameroon (0.3 tons)
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