Price for Meat of Bovine Animals; Frozen in Nigeria - 2022
Contents:
- Price for Meat of Bovine Animals; Frozen in Nigeria (CIF) - 2022
- Price for Meat of Bovine Animals; Frozen in Nigeria (FOB) - 2022
- Imports of Meat of Bovine Animals; Frozen in Nigeria
- Exports of Meat of Bovine Animals; Frozen in Nigeria
Price for Meat of Bovine Animals; Frozen in Nigeria (CIF) - 2022
The average import price for meat of bovine animals; frozen stood at $4,429 per ton in 2022, standing approx. at the previous year. Overall, the import price continues to indicate a noticeable slump. The most prominent rate of growth was recorded in 2017 an increase of 13% against the previous year. The import price peaked at $5,814 per ton in 2012; however, from 2013 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 South Africa ($5,983 per ton), while the price for Kenya ($2,326 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Luxembourg (+8.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Meat of Bovine Animals; Frozen in Nigeria (FOB) - 2022
The average export price for meat of bovine animals; frozen stood at $777 per ton in 2022, surging by 3.8% against the previous year. Over the period under review, the export price, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when the average export price increased by 12% against the previous year. Over the period under review, the average export prices reached the maximum at $3,557 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for Hong Kong SAR.
From 2012 to 2022, the rate of growth in terms of prices for Hong Kong SAR amounted to -14.2% per year.
Imports of Meat of Bovine Animals; Frozen in Nigeria
In 2022, after two years of decline, there was significant growth in purchases abroad of meat of bovine animals; frozen, when their volume increased by 204% to 27 tons. Overall, imports, however, saw a dramatic downturn.
In value terms, meat of bovine animals; frozen imports soared to $118K in 2022. In general, imports, however, faced a precipitous decline.
| Import of Meat of Bovine Animals; Frozen in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 47.3 | 23.0 | 7.3 | 35.8 | -8.9% |
| Italy | 59.4 | 21.3 | 6.6 | 32.6 | -18.1% |
| Brazil | 40.0 | 23.1 | 4.7 | 23.2 | -16.6% |
| South Africa | 135 | 113 | 2.3 | 10.0 | -58.0% |
| United States | 5.3 | 3.8 | 1.5 | 7.5 | 12.3% |
| United Arab Emirates | 5.4 | 3.6 | 0.9 | 4.2 | -8.0% |
| Germany | 18.2 | 6.8 | 0.6 | 2.9 | -45.8% |
| Kenya | 1.5 | 1.0 | 0.2 | 1.2 | -7.2% |
| Luxembourg | 41.2 | N/A | N/A | N/A | 0% |
| Others | 1.0 | 0.7 | 15.2 | 0.6 | -15.7% |
| Total | 354 | 197 | 39.4 | 118 | -30.7% |
Top Suppliers of Meat of Bovine Animals; Frozen to Nigeria in 2022:
- Italy (8.0 tons)
- Netherlands (7.7 tons)
- Brazil (6.3 tons)
- South Africa (1.7 tons)
- United States (1.3 tons)
- United Arab Emirates (0.8 tons)
- Kenya (0.5 tons)
- Germany (0.3 tons)
Exports of Meat of Bovine Animals; Frozen in Nigeria
In 2022, exports of meat of bovine animals; frozen from Nigeria reduced to 41 tons, which is down by -6.9% on 2021. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +7.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 75% against the previous year. As a result, the exports attained the peak of 45 tons, and then dropped in the following year.
In value terms, meat of bovine animals; frozen exports shrank to $32K in 2022. Overall, exports recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 7.3% against the previous year.
| Export of Meat of Bovine Animals; Frozen in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | 20.1 | 31.0 | 33.2 | 32.0 | 16.8% |
| Myanmar | 7.9 | N/A | N/A | N/A | 0% |
| Vietnam | 7.9 | N/A | N/A | N/A | 0% |
| Others | 0.1 | 0.1 | 0.1 | 0.2 | 26.0% |
| Total | 36.0 | 31.1 | 33.3 | 32.2 | -3.7% |
Top Export Markets for Meat of Bovine Animals; Frozen from Nigeria in 2022:
- Hong Kong SAR (41.3 tons)
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