Price for Spices; Vanilla, Crushed or Ground in Nigeria - 2022
Contents:
- Price for Spices; Vanilla, Crushed or Ground in Nigeria (CIF) - 2022
- Price for Spices; Vanilla, Crushed or Ground in Nigeria (FOB) - 2022
- Imports of Spices; Vanilla, Crushed or Ground in Nigeria
- Exports of Spices; Vanilla, Crushed or Ground in Nigeria
Price for Spices; Vanilla, Crushed or Ground in Nigeria (CIF) - 2022
The average import price for spices; vanilla, crushed or ground stood at $20,431 per ton in 2022, picking up by 655% against the previous year. Overall, the import price enjoyed a prominent increase. The import price peaked at $23,949 per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.
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 France ($33,958 per ton), while the price for Turkey ($2,059 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+236.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Spices; Vanilla, Crushed or Ground in Nigeria (FOB) - 2022
The average export price for spices; vanilla, crushed or ground stood at $2,615 per ton in 2022, with an increase of 20% against the previous year. In general, the export price, however, saw a precipitous shrinkage. The export price peaked at $52,450 per ton in 2014; however, from 2015 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 Niger.
From 2014 to 2022, the rate of growth in terms of prices for Niger amounted to -8.2% per year.
Imports of Spices; Vanilla, Crushed or Ground in Nigeria
After three years of growth, purchases abroad of spices; vanilla, crushed or ground decreased by -92.6% to 167 kg in 2022. In general, imports, however, posted buoyant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 826%. As a result, imports reached the peak of 2.2 tons, and then fell notably in the following year.
In value terms, spices; vanilla, crushed or ground imports dropped rapidly to $3.4K in 2022. Over the period under review, imports, however, saw significant growth. The growth pace was the most rapid in 2021 with an increase of 730% against the previous year. As a result, imports attained the peak of $6.1K, and then declined dramatically in the following year.
| Import of Spices; Vanilla, Crushed or Ground in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 1,818 | 168 | 2,695 | 3,260 | 21.5% |
| Turkey | N/A | 1.0 | 1,178 | 140 | 1083.2% |
| Lebanon | 22.0 | 1.0 | 14.0 | 12.0 | -18.3% |
| China | N/A | 550 | N/A | N/A | 0% |
| Italy | N/A | N/A | 1,712 | N/A | 0% |
| Others | N/A | 14.0 | 490 | N/A | 3400.0% |
| Total | 1,840 | 734 | 6,089 | 3,412 | 22.9% |
Top Suppliers of Spices; Vanilla, Crushed or Ground to Nigeria in 2022:
- France (96.0 kg)
- Turkey (68.0 kg)
- Lebanon (3.0 kg)
Exports of Spices; Vanilla, Crushed or Ground in Nigeria
Spices; vanilla, crushed or ground exports from Nigeria dropped to 26 kg in 2022, falling by -7.1% compared with the year before. In general, exports recorded a abrupt setback.
In value terms, spices; vanilla, crushed or ground exports expanded significantly to $68 in 2022. The total export value increased at an average annual rate of +11.5% from 2021 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Spices; Vanilla, Crushed or Ground in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2021 | 2022 | CAGR, 2021-2022 | ||
| Niger | N/A | 68.0 | 0% | ||
| Botswana | 41.0 | N/A | 0% | ||
| Others | 20.0 | N/A | 0% | ||
| Total | 61.0 | 68.0 | 11.5% | ||
Top Export Markets for Spices; Vanilla, Crushed or Ground from Nigeria in 2022:
- Niger (26.0 kg)
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This report provides an in-depth analysis of the vanilla market in Nigeria.
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This report provides an in-depth analysis of the global vanilla market.
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This report provides an in-depth analysis of the vanilla market in Nigeria.
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This report provides an in-depth analysis of the global vanilla market.
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In 2016, the vanilla market dropped to X tons, caused by the reduction of global vanilla production due to harvest cuts in Madagascar and Indonesia. At the same time, demand for vanilla continues to grow against the backdrop of growing demand from
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Global vanilla consumption amounted to X thousand tons in 2015, stabilizing at the previous year level.
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In 2015, global consumption of vanilla amounted to X tons, standing approx. at the 2014 level. One year before there was a fall by X% caused by the reduction of vanilla production in Indonesia; from 2007 to 2013, va
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The value of total imports on the global vanilla market in 2015 stood at X million USD. There was an annual increase of +X% for the period from 2007 to 2015. In physical terms, imports of vanilla reached X tons i
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From 2007 to 2015, global exports of vanilla grew by +X% per year, amounting to X million USD in 2015. In physical terms, exports on the global vanilla market reached X tons in 2015, which was X tons (or X%) more than the year before.
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The global production of vanilla was estimated at X tons in 2015, an increase of X tons against the figure for 2013, and X tons (or X%) less than the peak production level recorded in 2011.
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From 2007 to 2015, global vanilla market consumption decreased by -X% annually. The highest annual rates of growth in terms of vanilla consumption between 2007 and 2015 were registered in India, with a +X% growth, due to the increased number of va
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Although widely considered a standard commodity, vanilla requires highly labor-intensive methods of cultivation that make it the second most expensive spice in the world, surpassed only by saffron.
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France dominates in the global vanilla trade. In 2014, France exported X thousand tons of vanilla totaling X million USD, X% over the previous year. Its primary trading partner was Germany, where it supplied X% of its total vanilla exports in val
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In 2016, the vanilla market dropped to X tons, caused by the reduction of global vanilla production due to harvest cuts in Madagascar and Indonesia. At the same time, demand for vanilla continues to grow against the backdrop of growing demand from
