Price for Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in Nigeria - 2022
Contents:
- Price for Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in Nigeria (CIF) - 2022
- Price for Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in Nigeria (FOB) - 2022
- Imports of Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in Nigeria
- Exports of Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in Nigeria
Price for Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in Nigeria (CIF) - 2022
The average import price for oil seeds; cotton seeds, other than seed, whether or not broken stood at $141 per ton in 2022, waning by -17.5% against the previous year. Over the period under review, the import price continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2017 an increase of 29%. As a result, import price reached the peak level of $429 per ton. From 2018 to 2022, the average 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 Benin ($187 per ton), while the price for Cameroon totaled $105 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cameroon (-9.2%).
Price for Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in Nigeria (FOB) - 2022
The average export price for oil seeds; cotton seeds, other than seed, whether or not broken stood at $306 per ton in 2022, waning by -69.7% against the previous year. In general, the export price, however, showed a significant expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 216%. Over the period under review, the average export prices reached the maximum at $1,010 per ton in 2021, and then fell sharply in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Benin ($653 per ton), while the average price for exports to Niger totaled $97 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+100.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in Nigeria
In 2022, the amount of oil seeds; cotton seeds, other than seed, whether or not broken imported into Nigeria surged to 6.3K tons, jumping by 133% compared with the previous year's figure. In general, imports saw significant growth. The pace of growth was the most pronounced in 2021 when imports increased by 1,069%. Imports peaked in 2022 and are likely to continue growth in the near future.
In value terms, imports of oil seeds; cotton seeds, other than seed, whether or not broken soared to $893K in 2022. Overall, imports showed a significant expansion. The growth pace was the most rapid in 2021 with an increase of 1,170%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Benin | 2.7 | 16.3 | 231 | 524 | 479.0% |
| Cameroon | 1.9 | 14.1 | 95.5 | 367 | 478.1% |
| Others | N/A | 6.2 | 138 | 1.9 | -44.6% |
| Total | 4.6 | 36.6 | 465 | 893 | 479.0% |
Top Suppliers of Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken to Nigeria in 2022:
- Cameroon (3.5K tons)
- Benin (2.8K tons)
Exports of Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in Nigeria
In 2022, approx. 28 tons of oil seeds; cotton seeds, other than seed, whether or not broken were exported from Nigeria; dropping by -79.1% compared with 2021 figures. In general, exports saw a significant curtailment. The smallest decline of -30% was in 2020.
In value terms, exports of oil seeds; cotton seeds, other than seed, whether or not broken dropped dramatically to $8.6K in 2022. Overall, exports faced a precipitous slump. The pace of growth appeared the most rapid in 2020 when exports increased by 37% against the previous year. As a result, the exports reached the peak of $329K. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Benin | N/A | 0.8 | 1.8 | 6.6 | 187.2% |
| Niger | 0.3 | 2.0 | 1.8 | 1.7 | 78.3% |
| India | 9.4 | N/A | N/A | N/A | 0% |
| Indonesia | N/A | N/A | 108 | N/A | 0% |
| Ghana | 230 | 326 | N/A | N/A | 41.7% |
| Others | 0.1 | 0.1 | 23.8 | 0.2 | 26.0% |
| Total | 240 | 329 | 136 | 8.6 | -67.0% |
Top Export Markets for Oil Seeds; Cotton Seeds, Other than Seed, Whether or Not Broken from Nigeria in 2022:
- Niger (17.9 tons)
- Benin (10.2 tons)
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