Nigeria: Beef Market 2020

Beef Market Size in Nigeria

The revenue of the beef market in Nigeria amounted to $X in 2017, rising by X% against the previous year. Overall, beef consumption continues to indicate a modest expansion. The most prominent rate of growth was recorded in 2016, with an increase of X% year-to-year. Over the period under review, the beef market reached its maximum level of $X in 2014; however, from 2015 to 2017, it stood at a somewhat lower level.

Beef Production in Nigeria

In 2017, the amount of beef (cattle meat) produced in Nigeria amounted to X kg, flattening at the previous year. In general, beef production continues to indicate a relatively flat trend pattern. Beef output in Nigeria indicated a relatively flat trend pattern, which was largely conditioned by a relatively flat trend pattern of the producing animals and a mild curtailment in yield figures.

Average yield of beef (cattle meat) in Nigeria amounted to X kg per head in 2017, shrinking by -X% against the previous year. Overall, beef yield continues to indicate a slight reduction. The most prominent rate of growth was recorded in 2013, when it surged by X% year-to-year. Nigeria beef yield peaked of X kg per head in 2009; however, from 2010 to 2017, it failed to regain its momentum.

In 2017, the amount of beef (cattle meat) slaughtered in Nigeria stood at X head, shrinking by -X% against the previous year. Overall, beef producing animals continues to indicate a measured expansion. The growth pace was the most rapid in 2011, with an increase of X% year-to-year. Nigeria beef producing animals peaked of X heads in 2015; however, from 2016 to 2017, it stood at a somewhat lower level.

Beef Exports from Nigeria

Beef exports from Nigeria totaled X tonnes in 2017, going down by -X% against the previous year. Overall, beef exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2015, when it surged by -X% against the previous year. Nigeria exports peaked of X tonnes in 2007; however, from 2008 to 2017, it stood at a somewhat lower level.

In value terms, beef exports stood at $X in 2017. In general, beef exports continue to indicate an abrupt decline. Nigeria exports peaked of $X in 2007; however, from 2008 to 2017, it failed to regain its momentum.

Beef Exports by Country from Nigeria

The exports of the four major exporters of beef (cattle meat), namely India, Brazil, Australia and the U.S., represented more than half of total export. The following exporters - the Netherlands (X tonnes), New Zealand (X tonnes), Poland (X tonnes), Ireland (X tonnes), Paraguay (X tonnes), Canada (X tonnes), Uruguay (X tonnes) and Argentina (X tonnes) together made up X% of total exports.

From 2007 to 2017, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by India (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, the largest beef markets worldwide were the U.S. ($X), Australia ($X) and Brazil ($X), together comprising X% of total exports. These countries were followed by India, the Netherlands, Ireland, New Zealand, Canada, Poland, Uruguay, Argentina, Paraguay and Nigeria, which together accounted for a further X%.

India (+X% per year) experienced the highest rates of growth with regard to exports, in terms of the main exporting countries over the last decade, while the other leaders experienced more modest paces of growth.

Beef Export Prices by Country in Nigeria

The beef export price in Nigeria stood at $X per tonne in 2017, falling by -X% against the previous year. Overall, beef export price continues to indicate a pronounced slump. The pace of growth appeared the most rapid in 2015, when the export prices increased by -X% against the previous year. Nigeria export price peaked of $X per tonne in 2007; however, from 2008 to 2017, it stood at a somewhat lower level.

There were significant differences in the average export prices amongst the major exporting countries. In 2017, the country with the highest export price was the U.S. ($X per tonne), while India ($X per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by the U.S. (+X% per year), while the other leaders experienced more modest paces of growth.

Beef Imports into Nigeria

In 2017, the amount of beef (cattle meat) imported into Nigeria totaled X tonnes, approximately mirroring the previous year. Overall, beef imports continue to indicate a moderate decrease. The most prominent rate of growth was recorded in 2009, when it surged by X% year-to-year. In that year, the beef imports attained their peak volume of X tonnes. From 2010 to 2017, growth of the beef imports stood at a somewhat lower level.

In value terms, beef imports totaled $X in 2017. Overall, beef imports continue to indicate a perceptible downturn. Over the period under review, the beef imports attained its peak figure level of $X in 2010; however, from 2011 to 2017, it failed to regain its momentum.

Beef Imports by Country into Nigeria

The U.S. (X tonnes), Vietnam (X tonnes), China (X tonnes), Japan (X tonnes), China, Hong Kong SAR (X tonnes), Italy (X tonnes), South Korea (X tonnes), the Netherlands (X tonnes), Germany (X tonnes), Egypt (X tonnes), Russia (X tonnes) and the UK (X tonnes) represented roughly X% of total imports of beef (cattle meat) in 2017.

From 2007 to 2017, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Vietnam (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, the U.S. ($X), China ($X) and Japan ($X) constituted the countries with the highest levels of imports in 2017, together comprising X% of total imports. These countries were followed by Vietnam, South Korea, Germany, Italy, China, Hong Kong SAR, the Netherlands, the UK, Russia, Egypt and Nigeria, which together accounted for a further X%.

In terms of the main importing countries , Vietnam (+X% per year) recorded the highest growth rate of imports, over the last decade, while the other leaders experienced more modest paces of growth.

Beef Import Prices by Country in Nigeria

The beef import price in Nigeria stood at $X per tonne in 2017, reducing by -X% against the previous year. In general, beef import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010, when the import prices increased by X% y-o-y. In that year, the import prices for beef (cattle meat) reached their peak level of $X per kg. From 2011 to 2017, growth of the import prices for beef (cattle meat) stood at a somewhat lower level.

Import prices varied noticeably by the country of destination; the country with the highest import price was Germany ($X per tonne), while Egypt ($X per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by the U.S. (+X% per year), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform