Price for Tobacco, (Not Stemmed or Stripped) in Nigeria - 2022
Contents:
- Price for Tobacco, (Not Stemmed or Stripped) in Nigeria (CIF) - 2022
- Price for Tobacco, (Not Stemmed or Stripped) in Nigeria (FOB) - 2022
- Imports of Tobacco, (Not Stemmed or Stripped) in Nigeria
- Exports of Tobacco, (Not Stemmed or Stripped) in Nigeria
Price for Tobacco, (Not Stemmed or Stripped) in Nigeria (CIF) - 2022
In 2022, the average import price for tobacco, (not stemmed or stripped)s amounted to $5,337 per ton, picking up by 40% against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. The pace of growth was the most pronounced in 2014 an increase of 50%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Uganda ($6,923 per ton), while the price for South Africa ($3,057 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kenya (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Tobacco, (Not Stemmed or Stripped) in Nigeria (FOB) - 2022
The average export price for tobacco, (not stemmed or stripped)s stood at $1,823 per ton in 2022, surging by 43% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2019 when the average export price increased by 337% against the previous year. Over the period under review, the average export prices hit record highs at $5,907 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Benin ($4,556 per ton), while the average price for exports to Niger stood at $1,823 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+8.3%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Tobacco, (Not Stemmed or Stripped) in Nigeria
Tobacco, (not stemmed or stripped) imports into Nigeria skyrocketed to 5.2K tons in 2022, rising by 65% compared with the previous year. Over the period under review, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +14.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, tobacco, (not stemmed or stripped) imports surged to $28M in 2022. In general, imports posted significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Tobacco, (Not Stemmed or Stripped) in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Uganda | 1.9 | 1.8 | 0.6 | 7.3 | 56.6% |
| Brazil | 0.8 | 0.9 | 3.2 | 6.6 | 102.1% |
| India | 1.3 | 3.3 | 2.1 | 2.6 | 26.0% |
| Kenya | 1.6 | 1.6 | 0.5 | 2.2 | 11.2% |
| Tanzania | 1.4 | 1.5 | 0.6 | 2.1 | 14.5% |
| United States | 3.9 | 5.1 | 3.5 | 1.7 | -24.2% |
| Zimbabwe | 0.1 | 0.2 | 0.2 | 1.7 | 157.1% |
| Argentina | 0.4 | 0.7 | 0.5 | 1.1 | 40.1% |
| South Africa | 0.3 | 0.6 | 0.4 | 0.8 | 38.7% |
| Others | 1.1 | 0.8 | 0.5 | 1.8 | 17.8% |
| Total | 12.8 | 16.5 | 12.1 | 28.0 | 29.8% |
Top Suppliers of Tobacco, (Not Stemmed or Stripped) to Nigeria in 2022:
- Uganda (1058.5 tons)
- Brazil (983.0 tons)
- India (808.0 tons)
- Zimbabwe (543.0 tons)
- United States (354.0 tons)
- Kenya (344.3 tons)
- Tanzania (332.2 tons)
- South Africa (257.8 tons)
- Argentina (176.3 tons)
Exports of Tobacco, (Not Stemmed or Stripped) in Nigeria
In 2022, overseas shipments of tobacco, (not stemmed or stripped)s decreased by -31.6% to 91 tons, falling for the second consecutive year after two years of growth. In general, exports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2020 when exports increased by 124% against the previous year. As a result, the exports reached the peak of 145 tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, tobacco, (not stemmed or stripped) exports contracted slightly to $165K in 2022. Overall, exports continue to indicate a dramatic setback. The most prominent rate of growth was recorded in 2021 when exports increased by 4.8% against the previous year.
| Export of Tobacco, (Not Stemmed or Stripped) in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Niger | 3.7 | 161 | 169 | 165 | 254.6% |
| Burkina Faso | 261 | N/A | N/A | N/A | 0% |
| Ghana | 81.1 | N/A | N/A | N/A | 0% |
| Others | 0.1 | 0.9 | 0.3 | N/A | 73.2% |
| Total | 346 | 162 | 169 | 165 | -21.9% |
Top Export Markets for Tobacco, (Not Stemmed or Stripped) from Nigeria in 2022:
- Niger (90.8 tons)
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