Nigeria: Banana And Plantain Market 2022

Banana And Plantain Market Size in Nigeria

In 2021, after five years of growth, there was decline in the Nigerien banana and plantain market, when its value decreased by -X% to $X. In general, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +X% against 2013 indices. Over the period under review, the market hit record highs at $X in 2020, and then contracted slightly in the following year.

Banana And Plantain Production in Nigeria

In value terms, banana and plantain production dropped to $X in 2021 estimated in export prices. Overall, production continues to indicate a noticeable increase. The pace of growth was the most pronounced in 2019 when the production volume increased by X% y-o-y. Over the period under review, production reached the peak level at $X in 2020, and then contracted in the following year.

In 2021, the average banana and plantain yield in Nigeria dropped to X tonnes per ha, standing approx. at 2020 figures. Over the period under review, the yield, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the yield increased by X% y-o-y. As a result, the yield attained the peak level of X tonnes per ha. From 2017 to 2021, the growth of the average banana and plantain yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, approx. X ha of bananas and plantains were harvested in Nigeria; almost unchanged from the previous year's figure. Overall, the harvested area recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the harvested area increased by X% year-to-year. As a result, the harvested area attained the peak level of X ha. From 2016 to 2021, the growth of the banana and plantain harvested area failed to regain momentum.

Banana And Plantain Exports

Exports from Nigeria

In 2021, overseas shipments of bananas and plantains decreased by -X% to X tonnes for the first time since 2017, thus ending a three-year rising trend. In general, exports faced a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, the exports attained the peak of X tonnes, and then contracted sharply in the following year.

In value terms, banana and plantain exports dropped rapidly to $X in 2021. Over the period under review, exports continue to indicate mild growth. The pace of growth appeared the most rapid in 2020 with an increase of X% y-o-y. As a result, the exports reached the peak of $X, and then fell remarkably in the following year.

Exports by Country

The United Arab Emirates (X tonnes), Germany (X tonnes) and Niger (X tonnes) were the main destinations of banana and plantain exports from Nigeria, with a combined X% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (+X%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Germany ($X) and Canada ($X) were the largest markets for banana and plantain exported from Nigeria worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of +X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average banana and plantain export price stood at $X per tonne in 2021, dropping by -X% against the previous year. Overall, the export price, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2017 an increase of X% year-to-year. Over the period under review, the average export prices reached the peak figure at $X per tonne in 2020, and then declined remarkably in the following year.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Canada ($X per tonne), while the average price for exports to Niger ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Niger (-X%), while the prices for the other major destinations experienced a decline.

Banana And Plantain Imports

Imports into Nigeria

In 2021, imports of bananas and plantains into Nigeria soared to X tonnes, rising by X% on the previous year. Overall, imports, however, showed a precipitous decline. Over the period under review, imports hit record highs at X tonnes in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, banana and plantain imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a sharp setback. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Cameroon (X tonnes) constituted the largest supplier of banana and plantain to Nigeria, accounting for a X% share of total imports. Moreover, banana and plantain imports from Cameroon exceeded the figures recorded by the second-largest supplier, India (X tonnes), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Cameroon amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-X% per year) and the United States (+X% per year).

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

From 2012 to 2021, the average annual growth rate of value from Cameroon amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+X% per year) and India (-X% per year).

Import Prices by Country

In 2021, the average banana and plantain import price amounted to $X per tonne, waning by -X% against the previous year. In general, import price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the average import price increased by X% year-to-year. Over the period under review, average import prices hit record highs at $X per tonne in 2020, and then reduced notably in the following year.

Prices varied noticeably by the country of origin: the country with the highest price was the United States ($X per tonne), while the price for India ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cameroon (+X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform