Price for Homogenised Composite Food Preparations in Nigeria - 2022

Contents:

1. Price for Homogenised Composite Food Preparations in Nigeria (CIF) - 2022
2. Price for Homogenised Composite Food Preparations in Nigeria (FOB) - 2022
3. Imports of Homogenised Composite Food Preparations in Nigeria
4. Exports of Homogenised Composite Food Preparations in Nigeria

Price for Homogenised Composite Food Preparations in Nigeria (CIF) - 2022

In 2022, the average homogenised composite food preparations import price amounted to $1,164 per ton, picking up by 35% against the previous year. In general, the import price posted a temperate increase. The most prominent rate of growth was recorded in 2013 an increase of 78%. The import price peaked at $3,852 per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Africa ($7,556 per ton), while the price for Saudi Arabia ($121 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Homogenised Composite Food Preparations in Nigeria (FOB) - 2022

In 2022, the average homogenised composite food preparations export price amounted to $1,764 per ton, shrinking by -11.7% against the previous year. In general, the export price showed a abrupt setback. The most prominent rate of growth was recorded in 2014 when the average export price increased by 50% against the previous year. As a result, the export price attained the peak level of $5,492 per ton. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($3,898 per ton), while the average price for exports to Niger ($1,101 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 the UK (-1.3%), while the prices for the other major destinations experienced a decline.

Imports of Homogenised Composite Food Preparations in Nigeria

In 2022, overseas purchases of homogenised composite food preparationses decreased by -38.6% to 94 tons, falling for the second year in a row after two years of growth. In general, imports showed a abrupt decrease. The growth pace was the most rapid in 2020 with an increase of 198%. As a result, imports reached the peak of 507 tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, homogenised composite food preparations imports shrank notably to $109K in 2022. Overall, imports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2020 with an increase of 197%. As a result, imports reached the peak of $408K. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Top Suppliers of Homogenised Composite Food Preparations to Nigeria in 2022:

1. China (30.6 tons)
2. Thailand (17.0 tons)
3. Saudi Arabia (14.5 tons)
4. India (12.5 tons)
5. Niger (11.8 tons)
6. Lebanon (2.0 tons)
7. United Kingdom (1.8 tons)

Exports of Homogenised Composite Food Preparations in Nigeria

After three years of growth, overseas shipments of homogenised composite food preparationses decreased by -20.3% to 110 tons in 2022. In general, exports, however, posted a significant increase. The growth pace was the most rapid in 2021 with an increase of 116% against the previous year. As a result, the exports reached the peak of 137 tons, and then fell significantly in the following year.

In value terms, homogenised composite food preparations exports dropped markedly to $193K in 2022. Over the period under review, exports, however, saw a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 145%. As a result, the exports attained the peak of $274K, and then declined markedly in the following year.

Top Export Markets for Homogenised Composite Food Preparations from Nigeria in 2022:

1. Niger (45.8 tons)
2. Qatar (25.3 tons)
3. Netherlands (17.8 tons)