Price for Oil Seeds; Cotton Seeds, Seed, Whether or Not Broken in Nigeria - 2022
Contents:
- Price for Oil Seeds; Cotton Seeds, Seed, Whether or Not Broken in Nigeria (CIF) - 2022
- Price for Oil Seeds; Cotton Seeds, Seed, Whether or Not Broken in Nigeria (FOB) - 2022
- Imports of Oil Seeds; Cotton Seeds, Seed, Whether or Not Broken in Nigeria
- Exports of Oil Seeds; Cotton Seeds, Seed, Whether or Not Broken in Nigeria
Price for Oil Seeds; Cotton Seeds, Seed, Whether or Not Broken in Nigeria (CIF) - 2022
The average import price for oil seeds; cotton seeds, seed, whether or not broken stood at $16,891 per ton in 2022, surging by 12% against the previous year. Over the period under review, the import price recorded a significant expansion. The pace of growth was the most pronounced in 2018 when the average import price increased by 316%. Over the period under review, average import prices attained the peak figure at $18,114 per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for Benin.
From 2012 to 2022, the rate of growth in terms of prices for Cameroon amounted to +136.6% per year.
Price for Oil Seeds; Cotton Seeds, Seed, Whether or Not Broken in Nigeria (FOB) - 2022
In 2022, the average export price for oil seeds; cotton seeds, seed, whether or not broken amounted to $2,571 per ton, flattening at the previous year. Over the period under review, the export price continues to indicate a significant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Africa ($33,615 per ton), while the average price for exports to Tanzania ($337 per ton) was amongst the lowest.
From 2016 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+123.9%).
Imports of Oil Seeds; Cotton Seeds, Seed, Whether or Not Broken in Nigeria
In 2022, after two years of decline, there was growth in overseas purchases of oil seeds; cotton seeds, seed, whether or not broken, when their volume increased by 0.7% to 94 tons. In general, imports, however, recorded a abrupt setback.
In value terms, imports of oil seeds; cotton seeds, seed, whether or not broken reached $1.6M in 2022. The total import value increased at an average annual rate of +5.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 29% against the previous year. As a result, imports reached the peak of $1.8M. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Oil Seeds; Cotton Seeds, Seed, Whether or Not Broken in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Benin | 97.1 | 92.1 | 1,414 | 1,596 | 154.3% |
| Cameroon | 1,187 | N/A | N/A | N/A | 0% |
| Ethiopia | N/A | 1,674 | N/A | N/A | 0% |
| Chad | 35.7 | N/A | N/A | N/A | 0% |
| Others | 56.6 | 12.2 | N/A | N/A | -78.4% |
| Total | 1,376 | 1,778 | 1,414 | 1,596 | 5.1% |
Top Suppliers of Oil Seeds; Cotton Seeds, Seed, Whether or Not Broken to Nigeria in 2022:
- Benin (94.5 tons)
Exports of Oil Seeds; Cotton Seeds, Seed, Whether or Not Broken in Nigeria
Exports of oil seeds; cotton seeds, seed, whether or not broken from Nigeria surged to 198 kg in 2022, picking up by 39% against the previous year. In general, exports, however, showed a significant decrease.
In value terms, exports of oil seeds; cotton seeds, seed, whether or not broken soared to $509 in 2022. Overall, exports, however, showed a precipitous shrinkage.
| Export of Oil Seeds; Cotton Seeds, Seed, Whether or Not Broken in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Africa | N/A | N/A | N/A | 437 | 0% |
| Canada | N/A | N/A | 361 | 40.0 | -88.9% |
| Tanzania | N/A | N/A | N/A | 32.0 | 0% |
| Mali | 1,318 | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 1,318 | N/A | 361 | 509 | -27.2% |
Top Export Markets for Oil Seeds; Cotton Seeds, Seed, Whether or Not Broken from Nigeria in 2022:
- Tanzania (95.0 kg)
- Canada (90.0 kg)
- South Africa (13.0 kg)
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