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Nigeria - Butter And Ghee - Market Analysis, Forecast, Size, Trends and Insights
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Nigeria: Butter And Ghee Market Overview 2021

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Butter And Ghee Market Size in Nigeria

For the fifth consecutive year, the Nigerien butter and ghee market recorded decline in sales value, which decreased by -X% to $X in 2019. In general, consumption, however, continues to indicate a slight contraction. The pace of growth appeared the most rapid in 2010 with an increase of X% against the previous year. Butter and ghee consumption peaked at $X in 2014; however, from 2015 to 2019, consumption remained at a lower figure.

Butter And Ghee Production in Nigeria

In value terms, butter and ghee production stood at $X in 2019 estimated in export prices. The total output value increased at an average annual rate of +X% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2011 when the production volume increased by X% y-o-y. Butter and ghee production peaked at $X in 2016; however, from 2017 to 2019, production remained at a lower figure.

Butter And Ghee Exports

Exports from Nigeria

In 2019, shipments abroad of butter and ghee decreased by -X% to X tonnes, falling for the third consecutive year after two years of growth. In general, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, exports hit record highs at X tonnes in 2009; however, from 2010 to 2019, exports stood at a somewhat lower figure.

In value terms, butter and ghee exports reduced to $X in 2019. Over the period under review, exports faced a deep slump. The pace of growth was the most pronounced in 2016 with an increase of X% year-to-year. Exports peaked at $X in 2009; however, from 2010 to 2019, exports stood at a somewhat lower figure.

Exports by Country

South Africa (X tonnes) and Benin (X tonnes) were the main destinations of butter and ghee exports from Nigeria, together comprising X% of total exports.

From 2007 to 2019, the biggest increases were in South Africa.

In value terms, Benin ($X) and South Africa ($X) constituted the largest markets for butter and ghee exported from Nigeria worldwide, together accounting for X% of total exports.

Among the main countries of destination, South Africa (+X% per year) saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The average butter and ghee export price stood at $X per tonne in 2019, waning by -X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. As a result, export price reached the peak level of $X per tonne. From 2015 to 2019, the growth in terms of the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2019, the country with the highest price was Benin ($X per tonne), while the average price for exports to South Africa stood at $X per tonne.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to South Africa.

Butter And Ghee Imports

Imports into Nigeria

In 2019, approx. X tonnes of butter and ghee were imported into Nigeria; falling by -X% against the year before. In general, imports recorded a abrupt decline. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of X tonnes. From 2015 to 2019, the growth imports remained at a somewhat lower figure.

In value terms, butter and ghee imports contracted notably to $X in 2019. Over the period under review, imports faced a deep slump. The most prominent rate of growth was recorded in 2010 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2011; however, from 2012 to 2019, imports failed to regain the momentum.

Imports by Country

France (X tonnes), Indonesia (X tonnes) and Argentina (X tonnes) were the main suppliers of butter and ghee imports to Nigeria, with a combined X% share of total imports.

From 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (+X% per year), while imports for the other leaders experienced a decline.

In value terms, the largest butter and ghee suppliers to Nigeria were France ($X), Argentina ($X) and Barbados ($X), with a combined X% share of total imports. New Zealand, Indonesia, Germany, Denmark and India lagged somewhat behind, together accounting for a further X the main suppliers, Indonesia saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2019, the average butter and ghee import price amounted to $X per tonne, which is down by -X% against the previous year. In general, import price indicated a pronounced increase from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, butter and ghee import price increased by +X% against 2015 indices. The pace of growth appeared the most rapid in 2017 when the average import price increased by X% year-to-year. The import price peaked at $X per tonne in 2018, and then reduced in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Barbados ($X per tonne), while the price for Indonesia ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Barbados, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for butter and ghee in the world?
+
India (4.6M tonnes) constituted the country with the largest volume of butter and ghee consumption, accounting for 39% of total volume. Moreover, butter and ghee consumption in India exceeded the figures recorded by the second-largest consumer, the U.S. (991K tonnes), fivefold. Pakistan (853K tonnes) ranked third in terms of total consumption with a 7.3% share.
What are the largest producers of butter and ghee in the world?
+
The country with the largest volume of butter and ghee production was India (4.6M tonnes), accounting for 39% of total volume. Moreover, butter and ghee production in India exceeded the figures recorded by the second-largest producer, the U.S. (967K tonnes), fivefold. Pakistan (852K tonnes) ranked third in terms of total production with a 7.2% share.
What are the leading suppliers of butter and ghee to Nigeria?
+
In value terms, France ($1.8M), Argentina ($1.5M) and Barbados ($943K) appeared to be the largest butter and ghee suppliers to Nigeria, together accounting for 73% of total imports. These countries were followed by New Zealand, Indonesia, Germany, Denmark and India, which together accounted for a further 19%.
What are the leading importers of butter and ghee from Nigeria?
+
In value terms, Benin ($17K) and South Africa ($8.4K) appeared to be the largest markets for butter and ghee exported from Nigeria worldwide, with a combined 87% share of total exports.
What is the average export price for butter and ghee in Nigeria?
+
The average butter and ghee export price stood at $2,881 per tonne in 2019, waning by -2.6% against the previous year.
What is the average import price for butter and ghee in Nigeria?
+
In 2019, the average butter and ghee import price amounted to $6,041 per tonne, which is down by -7% against the previous year.

Product coverage:
• FCL 983 - Butter and Ghee of Sheep Milk
• FCL 1022 - Butter of Goat Milk
• FCL 952 - Butter of Buffalo Milk
• FCL 886 - Butter of Cow Milk
• FCL 887 - Ghee from Cow Milk
• FCL 953 - Ghee, from Buffalo Milk

This report provides an in-depth analysis of the butter and ghee market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.


Country coverage:
• Nigeria

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Nigeria
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2019
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2019
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2019
Table 2:
Market Volume, In Physical Terms, 2007–2019
Table 3:
Market Value, 2007–2019
Table 4:
Per Capita Consumption In 2007–2019
Table 5:
Imports, In Physical Terms, By Country, 2007–2019
Table 6:
Imports, In Value Terms, By Country, 2007–2019
Table 7:
Import Prices, By Country Of Origin, 2007–2019
Table 8:
Exports, In Physical Terms, By Country, 2007–2019
Table 9:
Exports, In Value Terms, By Country, 2007–2019
Table 10:
Export Prices, By Country Of Destination, 2007–2019
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2019
Figure 2:
Market Value, 2007–2019
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2019
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2019
Figure 5:
Trade Balance, In Physical Terms, 2007–2019
Figure 6:
Trade Balance, In Value Terms, 2007–2019
Figure 7:
Per Capita Consumption, 2007–2019
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2019
Figure 21:
Production, In Value Terms, 2007–2019
Figure 22:
Imports, In Physical Terms, 2007–2019
Figure 23:
Imports, In Value Terms, 2007–2019
Figure 24:
Imports, In Physical Terms, By Country, 2019
Figure 25:
Imports, In Physical Terms, By Country, 2007–2019
Figure 26:
Imports, In Value Terms, By Country, 2007–2019
Figure 27:
Import Prices, By Country Of Origin, 2007–2019
Figure 28:
Exports, In Physical Terms, 2007–2019
Figure 29:
Exports, In Value Terms, 2007–2019
Figure 30:
Exports, In Physical Terms, By Country, 2019
Figure 31:
Exports, In Physical Terms, By Country, 2007–2019
Figure 32:
Exports, In Value Terms, By Country, 2007–2019
Figure 33:
Export Prices, By Country Of Destination, 2007–2019

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