Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Nigeria - 2022
Contents:
- Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Nigeria (FOB) - 2022
- Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Nigeria (CIF) - 2022
- Exports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Nigeria
- Imports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Nigeria
Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Nigeria (FOB) - 2022
In April 2022, the average export price for soups and broths and preparations therefor; homogenised composite food preparationses amounted to $1,654 per ton, increasing by 8.4% against the previous month. In general, the export price saw a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major foreign markets. In April 2022, the country with the highest price was Burkina Faso ($1,740 per ton), while the average price for exports to the Netherlands ($496 per ton) was amongst the lowest.
From April 2021 to April 2022, the most notable rate of growth in terms of prices was recorded for supplies to Senegal (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Nigeria (CIF) - 2022
The average import price for soups and broths and preparations therefor; homogenised composite food preparationses stood at $1,251 per ton in 2022, waning by -11.3% against the previous year. Overall, the import price recorded a pronounced setback. The most prominent rate of growth was recorded in 2013 when the average import price increased by 54% against the previous year. The import price peaked at $3,892 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($1,275 per ton), while the price for Senegal amounted to $1,248 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+16.4%), while the prices for the other major suppliers experienced a decline.
Exports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Nigeria
For the third year in a row, Nigeria recorded decline in overseas shipments of soups and broths and preparations therefor; homogenised composite food preparationses, which decreased by -27.9% to 4K tons in 2022. Overall, exports faced a dramatic decline. The smallest decline of -13.1% was in 2021.
In value terms, exports of soups and broths and preparations therefor; homogenised composite food preparationses reduced markedly to $6.6M in 2022. Over the period under review, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 2%.
| Export of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ghana | 4.4 | 3.0 | 2.7 | 5.1 | 5.0% |
| Mali | N/A | N/A | 1.0 | 0.9 | -10.0% |
| Benin | 0.6 | 0.1 | 0.1 | 0.3 | -20.6% |
| Togo | 1.3 | 0.2 | N/A | 0.1 | -57.5% |
| Cote d'Ivoire | N/A | N/A | 3.2 | 0.1 | -96.9% |
| Niger | 4.3 | 4.8 | N/A | N/A | 11.6% |
| Senegal | N/A | N/A | 1.3 | N/A | 0% |
| Others | 0.3 | 0.1 | 0.2 | 0.1 | -30.7% |
| Total | 10.9 | 8.2 | 8.4 | 6.6 | -15.4% |
Top Export Markets for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations from Nigeria in 2022:
- Ghana (3138.5 tons)
- Mali (448.2 tons)
- Benin (177.4 tons)
- Cote d'Ivoire (78.7 tons)
- Togo (32.3 tons)
- Niger (13.1 tons)
Imports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Nigeria
In 2022, approx. 5.2K tons of soups and broths and preparations therefor; homogenised composite food preparationses were imported into Nigeria; falling by -31.4% compared with the year before. Overall, imports saw a precipitous setback. The smallest decline of -5.5% was in 2020.
In value terms, imports of soups and broths and preparations therefor; homogenised composite food preparationses fell notably to $6.5M in 2022. In general, imports showed a dramatic slump. The smallest decline of -3.1% was in 2020.
| Import of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Senegal | 14.1 | 13.6 | 10.1 | 6.2 | -24.0% |
| India | 0.1 | 0.1 | N/A | 0.1 | 0.0% |
| Hong Kong SAR | N/A | 0.4 | N/A | N/A | 0% |
| Others | 1.0 | 0.6 | 0.5 | 0.1 | -53.6% |
| Total | 15.2 | 14.7 | 10.6 | 6.5 | -24.7% |
Top Suppliers of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations to Nigeria in 2022:
- Senegal (5.0K tons)
- India (0.1K tons)
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