Nigeria: Market for Broad Beans And Horse Beans (Dry) 2022

Market Size for Broad Beans And Horse Beans (Dry) in Nigeria

For the fifth year in a row, the Nigerien market for broad beans and horse beans (dry) recorded decline in sales value, which decreased by X% to $X in 2021. Over the period under review, consumption faced a dramatic decline. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Production of Broad Beans And Horse Beans (Dry) in Nigeria

In value terms, broad bean and horse bean production dropped rapidly to $X in 2021 estimated in export prices. Over the period under review, production, however, continues to indicate a buoyant expansion. The growth pace was the most rapid in 2014 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then shrank rapidly in the following year.

In 2021, the average yield of broad beans and horse beans (dry) in Nigeria totaled less than X kg per ha, therefore, remained relatively stable against 2020 figures. In general, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the harvested area of broad beans and horse beans (dry) in Nigeria was estimated at less than X ha, remaining stable against the previous year. In general, the harvested area showed a relatively flat trend pattern.

Exports of Broad Beans And Horse Beans (Dry)

Exports from Nigeria

After four years of growth, overseas shipments of broad beans and horse beans (dry) decreased by -X% to X tonnes in 2021. Overall, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of X% y-o-y. The exports peaked at X tonnes in 2020, and then reduced remarkably in the following year.

In value terms, broad bean and horse bean exports dropped notably to $X in 2021. Over the period under review, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% year-to-year. The exports peaked at $X in 2020, and then fell sharply in the following year.

Exports by Country

South Africa (X tonnes) was the main destination for broad bean and horse bean exports from Nigeria, with a X% share of total exports. Moreover, broad bean and horse bean exports to South Africa exceeded the volume sent to the second major destination, the UK (X tonnes), threefold. Canada (X tonnes) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Africa totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-X% per year) and Canada (-X% per year).

In value terms, South Africa ($X) remains the key foreign market for broad bean and horse bean exports from Nigeria, comprising X% of total exports. The second position in the ranking was occupied by Canada ($X), with a X% share of total exports. It was followed by the UK, with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to South Africa stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+X% per year) and the UK (+X% per year).

Export Prices by Country

The average export price for broad beans and horse beans (dry) stood at $X per tonne in 2021, flattening at the previous year. Over the period under review, the export price, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2016 an increase of X% year-to-year. The export price peaked at $X per tonne in 2020, and then shrank slightly in the following year.

Prices varied noticeably by the country of destination: the country with the highest price was Canada ($X per tonne), while the average price for exports to the UK ($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 Ireland (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Broad Beans And Horse Beans (Dry)

Imports into Nigeria

In 2021, the amount of broad beans and horse beans (dry) imported into Nigeria soared to X tonnes, rising by X% on the previous year. In general, imports posted significant growth. The growth pace was the most rapid in 2014 when imports increased by X% year-to-year. Imports peaked at X tonnes in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, broad bean and horse bean imports soared to $X in 2021. Over the period under review, imports saw significant growth. The growth pace was the most rapid in 2014 with an increase of X% year-to-year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth imports remained at a lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tonnes) was the main supplier of broad bean and horse bean to Nigeria, with a X% share of total imports. It was followed by Lebanon (X kg), with a X% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates totaled +X%.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of broad bean and horse bean to Nigeria, comprising X% of total imports. The second position in the ranking was occupied by Lebanon ($X), with a X% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates totaled +X%.

Import Prices by Country

The average import price for broad beans and horse beans (dry) stood at $X per tonne in 2021, declining by -X% against the previous year. In general, the import price showed a slight downturn. The growth pace was the most rapid in 2013 an increase of X% y-o-y. Over the period under review, average import prices hit record highs at $X per tonne in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was the United Arab Emirates ($X per tonne), while the price for Lebanon stood at $X per tonne.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lebanon (-X%).

Source: IndexBox Platform