Nigeria: Bambara Bean Market Overview 2021

Bambara Bean Market Size in Nigeria

The Nigerien bambara bean market stood at $X in 2020, remaining constant against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a precipitous setback. Bambara bean consumption peaked at $X in 2018; however, from 2019 to 2020, consumption failed to regain the momentum.

Bambara Bean Exports

Exports from Nigeria

In 2020, overseas shipments of bambara beans decreased by X% to X kg for the first time since 2017, thus ending a two-year declining trend. Over the period under review, exports recorded significant growth. The pace of growth was the most pronounced in 2017 with an increase of X% year-to-year. As a result, exports reached the peak of X tonnes. from 2018 to 2020, the growth exports remained at a lower figure.

In value terms, bambara bean exports stood at $X in 2020. In general, exports saw a significant expansion. The growth pace was the most rapid in 2017 with an increase of X% year-to-year. As a result, exports attained the peak of $X. from 2018 to 2020, the growth exports remained at a somewhat lower figure.

Exports by Country

The U.S. (X tonnes) was the main destination for bambara bean exports from Nigeria, with a X% share of total exports. Moreover, bambara bean exports to the U.S. exceeded the volume sent to the second major destination, Canada (X kg), sevenfold.

From 2012 to 2017, the average annual rate of growth in terms of volume to the U.S. was relatively modest.

In value terms, the U.S. ($X) emerged as the key foreign market for bambara bean exports from Nigeria, comprising X% of total exports. The second position in the ranking was occupied by Canada ($X), with a X% share of total exports.

From 2012 to 2017, the average annual growth rate of value to the U.S. was relatively modest.

Export Prices by Country

In 2017, the average bambara bean export price amounted to $X per tonne, surging by X% against the previous year. In general, the export price enjoyed strong growth. As a result, export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2017, the country with the highest price was the U.S. ($X per tonne), while the average price for exports to Canada amounted to $X per tonne.

From 2012 to 2017, the most notable rate of growth in terms of prices was recorded for supplies to Canada.

Bambara Bean Imports

Imports into Nigeria

In 2020, imports of bambara beans into Nigeria totaled X tonnes, approximately equating 2019 figures. Over the period under review, imports showed a sharp shrinkage. Over the period under review, imports hit record highs at X tonnes in 2018; however, from 2019 to 2020, imports failed to regain the momentum.

In value terms, bambara bean imports amounted to $X in 2020. Overall, imports showed a sharp shrinkage. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2020, imports stood at a somewhat lower figure.

Imports by Country

Cameroon (X kg) and Gabon (X kg) were the main suppliers of bambara bean imports to Nigeria.

From 2012 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Cameroon.

In value terms, Cameroon ($X) constituted the largest supplier of bambara bean to Nigeria, comprising X% of total imports. The second position in the ranking was occupied by Gabon ($X), with a X% share of total imports.

From 2012 to 2020, the average annual rate of growth in terms of value from Cameroon was relatively modest.

Import Prices by Country

In 2020, the average bambara bean import price amounted to $X per tonne, remaining relatively unchanged against the previous year. Overall, the import price continues to indicate significant growth. Over the period under review, average import prices reached the maximum in 2020 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Cameroon ($X per tonne), while the price for Gabon amounted to $X per tonne.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Cameroon.

Source: IndexBox Platform