Nigeria: Barley Market Overview 2021

Barley Market Size in Nigeria

For the third year in a row, the Nigerien barley market recorded growth in sales value, which increased by X% to $X in 2020. In general, consumption, however, showed a significant expansion. The pace of growth appeared the most rapid in 2013 when the market value increased by X% year-to-year. Over the period under review, the market reached the peak level in 2020 and is likely to see steady growth in the immediate term.

Barley Exports

Exports from Nigeria

In 2020, after three years of decline, there was decline in shipments abroad of barley, when their volume decreased by X% to X kg. Overall, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2016 with an increase of X% year-to-year. As a result, exports attained the peak of X tonnes. From 2017 to 2020, the growth exports remained at a somewhat lower figure.

In value terms, barley exports stood at $X in 2020. Over the period under review, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2016 with an increase of X% y-o-y. As a result, exports reached the peak of $X. From 2017 to 2020, the growth exports remained at a somewhat lower figure.

Exports by Country

The UK (X tonnes) was the main destination for barley exports from Nigeria, with a approx. X% share of total exports.

From 2007 to 2017, the average annual growth rate of volume to the UK stood at -X%.

In value terms, the UK ($X) also remains the key foreign market for barley exports from Nigeria.

From 2007 to 2017, the average annual rate of growth in terms of value to the UK totaled -X%.

Export Prices by Country

In 2017, the average barley export price amounted to $X per tonne, declining by -X% against the previous year. Over the period under review, the export price, however, posted significant growth. The pace of growth appeared the most rapid in 2016 an increase of X% y-o-y. As a result, export price attained the peak level of $X per tonne, and then contracted notably in the following year.

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

From 2007 to 2017, the rate of growth in terms of prices for the UK amounted to -X% per year.

Barley Imports

Imports into Nigeria

In 2020, after two years of growth, there was significant decline in purchases abroad of barley, when their volume decreased by -X% to X tonnes. In general, imports, however, recorded strong growth. The most prominent rate of growth was recorded in 2013 when imports increased by X% y-o-y. Imports peaked at X tonnes in 2016; however, from 2017 to 2020, imports stood at a somewhat lower figure.

In value terms, barley imports skyrocketed to $X in 2020. Over the period under review, imports, however, saw a significant increase. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Imports peaked in 2020 and are likely to see steady growth in the immediate term.

Imports by Country

In 2020, China (X tonnes) constituted the largest supplier of barley to Nigeria, with a X% share of total imports. Moreover, barley imports from China exceeded the figures recorded by the second-largest supplier, Belgium (X tonnes), eightfold. The third position in this ranking was occupied by the UK (X tonnes), with a X% share.

From 2007 to 2020, the average annual growth rate of volume from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+X% per year) and the UK (+X% per year).

In value terms, China ($X) constituted the largest supplier of barley to Nigeria, comprising X% of total imports. The second position in the ranking was occupied by the UK ($X), with a X% share of total imports. It was followed by the U.S., with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+X% per year) and the U.S. (-X% per year).

Import Prices by Country

The average barley import price stood at $X per tonne in 2020, picking up by X% against the previous year. Over the period under review, the import price posted a resilient expansion. The growth pace was the most rapid in 2019 when the average import price increased by X% year-to-year. Over the period under review, average import prices reached the maximum in 2020 and is likely to see gradual growth in the near future.

Prices varied noticeably by the country of origin; the country with the highest price was the UK ($X per tonne), while the price for Belgium ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for barley in the world?

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The countries with the highest volumes of barley consumption in 2020 were Russia (17M tonnes), Germany (11M tonnes) and China (8.9M tonnes), together comprising 23% of global consumption. These countries were followed by Turkey, Spain, Canada, France, Iran, the UK, Argentina, Australia, Ukraine and Saudi Arabia, which together accounted for a further 40%.

What are the largest producers of barley in the world?

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The countries with the highest volumes of barley production in 2020 were Russia (21M tonnes), France (14M tonnes) and Germany (12M tonnes), together comprising 29% of global production. Canada, Australia, Ukraine, the UK, Turkey, Spain, Argentina, Kazakhstan, Denmark and Iran lagged somewhat behind, together comprising a further 44%.

What are the leading suppliers of barley to Nigeria?

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In value terms, China ($3.3M) constituted the largest supplier of barley to Nigeria, comprising 79% of total imports. The second position in the ranking was occupied by the UK ($408K), with a 9.7% share of total imports. It was followed by the U.S., with a 4.5% share.

What are the leading importers of barley from Nigeria?

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In value terms, the UK ($2K) remains the key foreign market for barley exports from Nigeria.

What is the average export price for barley in Nigeria?

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The average barley export price stood at $792 per tonne in 2017, dropping by -18.3% against the previous year.

What is the average import price for barley in Nigeria?

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In 2020, the average barley import price amounted to $898 per tonne, growing by 52% against the previous year.