Price for Raw Cane Sugar (Without Flavoring or Coloring Matter) in Nigeria - 2022
Contents:
- Price for Raw Cane Sugar (Without Flavoring or Coloring Matter) in Nigeria (CIF) - 2022
- Price for Raw Cane Sugar (Without Flavoring or Coloring Matter) in Nigeria (FOB) - 2022
- Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter) in Nigeria
- Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter) in Nigeria
Price for Raw Cane Sugar (Without Flavoring or Coloring Matter) in Nigeria (CIF) - 2022
In 2022, the average import price for raw cane sugar (without flavoring or coloring matter) amounted to $450,545 per ton, rising by 39,425% against the previous year. Overall, the import price posted a significant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
As there is only one major supplying country, the average price level is determined by prices for Brazil.
From 2012 to 2022, the rate of growth in terms of prices for India amounted to +1.3% per year.
Price for Raw Cane Sugar (Without Flavoring or Coloring Matter) in Nigeria (FOB) - 2022
The average export price for raw cane sugar (without flavoring or coloring matter) stood at $1,656 per ton in 2022, surging by 5.8% against the previous year. In general, the export price showed strong growth. Over the period under review, the average export prices reached the peak figure at $1,853 per ton in 2018; however, from 2019 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 Benin.
From 2016 to 2022, the rate of growth in terms of prices for Niger amounted to +81.6% per year.
Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter) in Nigeria
In 2022, approx. 33 tons of raw cane sugar (without flavoring or coloring matter) were imported into Nigeria; surging by 196% compared with the previous year's figure. Overall, imports enjoyed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of raw cane sugar (without flavoring or coloring matter) soared to $15M in 2022. In general, imports continue to indicate significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Raw Cane Sugar (Without Flavoring or Coloring Matter) in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Brazil | N/A | N/A | N/A | 14.8 | 0% |
| India | N/A | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | N/A | N/A | N/A | 14.8 | 0% |
Top Suppliers of Raw Cane Sugar (Without Flavoring or Coloring Matter) to Nigeria in 2022:
- Brazil (32.8 tons)
Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter) in Nigeria
In 2022, approx. 4.8 tons of raw cane sugar (without flavoring or coloring matter) were exported from Nigeria; jumping by 41% compared with 2021 figures. Overall, exports, however, saw a abrupt contraction.
In value terms, exports of raw cane sugar (without flavoring or coloring matter) surged to $8K in 2022. Over the period under review, exports, however, showed a deep contraction.
| Export of Raw Cane Sugar (Without Flavoring or Coloring Matter) in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Benin | N/A | N/A | N/A | 3.7 | 0% |
| Central African Republic | N/A | N/A | 5.3 | N/A | 0% |
| Niger | 10.1 | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | 4.3 | 0% |
| Total | 10.1 | N/A | 5.4 | 8.0 | -7.5% |
Top Export Markets for Raw Cane Sugar (Without Flavoring or Coloring Matter) from Nigeria in 2022:
- Benin (4.8 tons)
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In value terms, cane and beet sugar and sucrose imports totaled $X in 2016. Overall, it indicated a perceptible growth from 2007 to 2016: the total imports value increased at an average annual rate ...
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This year, world sugar production is expected to rise by 3% to 193M tons. The growth will be encouraged by favorable weather conditions in most of the largest producing countries, as well as the providing exemptions on the neonicotinoid usage against plant diseases and blights in France, Germany and the UK. The drop in sugar production and shipments from Brazil will be offset by large volumes coming from Thailand, which will boost global exports by +2.6% y-o-y. The increased supply in the world market is to keep sugar prices relatively stable over the next two years.
