Swine; Live Price in Nigeria - 2022

Swine; Live Price in Nigeria (CIF) - 2022

The average swine; live import price stood at $181 per unit in 2022, falling by -27.7% against the previous year. Over the period under review, the import price saw a deep setback. The pace of growth appeared the most rapid in 2021 an increase of 140%. Over the period under review, average import prices hit record highs at $537 per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Denmark ($493 per unit), while the price for the United States ($100 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+9.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Swine; Live Price in Nigeria (FOB) - 2022

In 2022, the average swine; live export price amounted to $106 per unit, declining by -29.1% against the previous year. Overall, the export price, however, continues to indicate a remarkable increase. The pace of growth was the most pronounced in 2019 an increase of 200% against the previous year. Over the period under review, the average export prices reached the maximum at $150 per unit in 2021, and then declined significantly in the following year.

As there is only one major export destination, the average price level is determined by prices for Benin.

From 2012 to 2022, the rate of growth in terms of prices for Benin amounted to -1.9% per year.

Swine; Live Imports in Nigeria

Swine; live imports into Nigeria dropped sharply to 92 units in 2022, with a decrease of -29.8% on the previous year's figure. In general, imports continue to indicate a sharp reduction. The most prominent rate of growth was recorded in 2021 with an increase of 2,520%. Over the period under review, imports reached the maximum at 528 units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, swine; live imports contracted sharply to $17K in 2022. Over the period under review, imports showed a sharp decrease. The growth pace was the most rapid in 2021 with an increase of 6,199%. Over the period under review, imports hit record highs at $148K in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Import of Swine; Live in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Niger	72.8	0.4	25.2	9.4	-49.5%
United States	N/A	N/A	N/A	5.4	0%
South Africa	15.2	0.1	3.6	0.7	-64.2%
Denmark	10.8	N/A	1.9	0.5	-64.1%
Zambia	0.7	N/A	N/A	N/A	0%
Others	48.7	N/A	2.0	0.6	-76.9%
Total	148	0.5	32.8	16.6	-51.8%

Top Suppliers of Swine; Live to Nigeria in 2022:

United States (54.0 units)
Niger (33.0 units)
South Africa (3.0 units)
Denmark (1.0 units)

Swine; Live Exports in Nigeria

In 2022, overseas shipments of swine; live decreased by 0% to 2 units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 100%. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, swine; live exports dropped dramatically to $212 in 2022. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 139%. As a result, the exports reached the peak of $299, and then shrank notably in the following year.