Nigeria - Sunflower-Seed And Safflower Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPrice for Sunflower-Seed and Safflower Oil in Nigeria - 2022
Contents:
- Price for Sunflower-Seed and Safflower Oil in Nigeria (CIF) - 2022
- Price for Sunflower-Seed and Safflower Oil in Nigeria (FOB) - 2022
- Imports of Sunflower-Seed and Safflower Oil in Nigeria
- Exports of Sunflower-Seed and Safflower Oil in Nigeria
Price for Sunflower-Seed and Safflower Oil in Nigeria (CIF) - 2022
In 2022, the average sunflower-seed and safflower oil import price amounted to $1,346 per ton, with a decrease of -19.1% against the previous year. Overall, the import price continues to indicate a mild curtailment. The most prominent rate of growth was recorded in 2021 an increase of 36%. As a result, import price attained the peak level of $1,664 per ton, and then contracted markedly in the following year.
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 India ($2,069 per ton), while the price for Egypt ($716 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+6.8%), while the prices for the other major suppliers experienced a decline.
Price for Sunflower-Seed and Safflower Oil in Nigeria (FOB) - 2022
In 2022, the average sunflower-seed and safflower oil export price amounted to $1,009 per ton, increasing by 81% against the previous year. Overall, the export price posted a remarkable increase. The most prominent rate of growth was recorded in 2019 an increase of 114% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Africa ($1,469 per ton), while the average price for exports to Canada ($893 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+19.6%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Sunflower-Seed and Safflower Oil in Nigeria
In 2022, sunflower-seed and safflower oil imports into Nigeria skyrocketed to 944 tons, increasing by 94% against the previous year. Over the period under review, imports, however, continue to indicate a drastic downturn.
In value terms, sunflower-seed and safflower oil imports soared to $1.3M in 2022. Overall, imports, however, saw a slight downturn.
| Import of Sunflower-Seed and Safflower Oil in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Turkey | 548 | 764 | 105 | 263 | -21.7% |
| India | 3.9 | 12.7 | 10.0 | 238 | 293.7% |
| Spain | 70.6 | 138 | 63.2 | 194 | 40.1% |
| Italy | 69.2 | 51.1 | 106 | 70.8 | 0.8% |
| Netherlands | 46.8 | 49.8 | 6.0 | 66.9 | 12.6% |
| Ukraine | N/A | 125 | N/A | 33.6 | -48.2% |
| Egypt | 24.4 | 4.4 | 49.1 | 26.4 | 2.7% |
| Germany | 57.2 | 9.3 | 45.9 | 10.0 | -44.1% |
| France | 71.2 | 119 | 0.1 | N/A | -96.3% |
| Others | 417 | 457 | 426 | 368 | -4.1% |
| Total | 1,308 | 1,730 | 810 | 1,270 | -1.0% |
Top Suppliers of Sunflower-Seed and Safflower Oil to Nigeria in 2022:
- France (undefined tons)
- Turkey (248.7 tons)
- Spain (134.2 tons)
- India (114.9 tons)
- Netherlands (67.5 tons)
- Italy (45.8 tons)
- Egypt (36.9 tons)
- Ukraine (22.3 tons)
- Germany (7.2 tons)
Exports of Sunflower-Seed and Safflower Oil in Nigeria
After three years of growth, shipments abroad of sunflower-seed and safflower oil decreased by -48.6% to 17 tons in 2022. In general, exports continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2021 when exports increased by 63% against the previous year. As a result, the exports reached the peak of 34 tons, and then plummeted in the following year.
In value terms, sunflower-seed and safflower oil exports fell to $17K in 2022. Over the period under review, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +16.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.1% against 2019 indices. The growth pace was the most rapid in 2020 when exports increased by 44%.
| Export of Sunflower-Seed and Safflower Oil in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 1.4 | 1.0 | 0.5 | 9.0 | 85.9% |
| Niger | N/A | N/A | N/A | 8.0 | 0% |
| South Africa | 0.1 | N/A | 5.0 | 0.2 | 26.0% |
| United Arab Emirates | 9.6 | 15.1 | N/A | N/A | 57.3% |
| Netherlands | N/A | N/A | 6.5 | N/A | 0% |
| Others | N/A | N/A | 6.7 | 0.3 | -95.5% |
| Total | 11.2 | 16.1 | 18.7 | 17.4 | 15.8% |
Top Export Markets for Sunflower-Seed and Safflower Oil from Nigeria in 2022:
- Canada (10.0 tons)
- Niger (6.9 tons)
- South Africa (0.1 tons)
This report provides an in-depth analysis of the market for sunflower-seed and safflower oil in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 268 - Oil of Sunflower Seed
- FCL 281 - Oil of Safflower Seed
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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