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Nigeria - Crude Soybean Oil - Market Analysis, Forecast, Size, Trends And Insights
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Nigeria: Crude Soybean Oil Market Overview 2021

Crude Soybean Oil Market Size in Nigeria

The Nigerien crude soybean oil market rose markedly to $X in 2020, picking up by X% against the previous year. The market value increased at an average annual rate of +X% over the period from 2007 to 2020; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2016 with an increase of X% year-to-year. Over the period under review, the market reached the peak level in 2020 and is expected to retain growth in the immediate term.

Crude Soybean Oil Production in Nigeria

In value terms, crude soybean oil production expanded remarkably to $X in 2020 estimated in export prices. The total output value increased at an average annual rate of +X% from 2007 to 2020; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the production volume increased by X% year-to-year. Crude soybean oil production peaked in 2020 and is likely to continue growth in years to come.

Crude Soybean Oil Exports

Exports from Nigeria

Crude soybean oil exports from Nigeria stood at X tonnes in 2020, remaining stable against the previous year's figure. Over the period under review, exports saw a significant decrease. Over the period under review, exports attained the maximum at X tonnes in 2016; however, from 2017 to 2020, exports failed to regain the momentum.

In value terms, crude soybean oil exports stood at $X in 2020. Overall, exports faced a sharp curtailment. Over the period under review, exports attained the maximum at $X in 2016; however, from 2017 to 2020, exports remained at a lower figure.

Exports by Country

The UK (X tonnes) was the main destination for crude soybean oil exports from Nigeria, accounting for a approx. X% share of total exports.

From 2007 to 2020, the average annual growth rate of volume to the UK was relatively modest.

From 2007 to 2020, the average annual growth rate of value to the UK was relatively modest.

Export Prices by Country

In 2020, the average crude soybean oil export price amounted to $X per tonne, remaining relatively unchanged against the previous year. In general, the export price continues to indicate a abrupt setback. Over the period under review, average export prices hit record highs at $X per tonne in 2016; however, from 2017 to 2020, export prices failed to regain the momentum.

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

From 2007 to 2020, the rate of growth in terms of prices for the UK amounted to X% per year.

Crude Soybean Oil Imports

Imports into Nigeria

In 2020, overseas purchases of crude soybean oil decreased by X% to X tonnes for the first time since 2017, thus ending a two-year declining trend. Overall, imports saw a sharp decline. The most prominent rate of growth was recorded in 2016 with an increase of X% year-to-year. Over the period under review, imports hit record highs at X tonnes in 2008; however, from 2009 to 2020, imports failed to regain the momentum.

In value terms, crude soybean oil imports amounted to $X in 2020. In general, imports recorded a sharp shrinkage. The growth pace was the most rapid in 2016 when imports increased by X% y-o-y. Imports peaked at $X in 2008; however, from 2009 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, Viet Nam (X tonnes) was the main supplier of crude soybean oil to Nigeria, accounting for a approx. X% share of total imports.

From 2007 to 2020, the average annual growth rate of volume from Viet Nam was relatively modest.

In value terms, Viet Nam ($X) constituted the largest supplier of crude soybean oil to Nigeria.

From 2007 to 2020, the average annual growth rate of value from Viet Nam was relatively modest.

Import Prices by Country

The average crude soybean oil import price stood at $X per tonne in 2020, stabilizing at the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2010 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per tonne in 2011; however, from 2012 to 2020, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Viet Nam.

From 2007 to 2020, the rate of growth in terms of prices for Viet Nam amounted to X% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for crude soybean oil in the world?
+
The countries with the highest volumes of crude soybean oil consumption in 2020 were China (4.6M tonnes), India (3.6M tonnes) and the U.S. (2.3M tonnes), with a combined 34% share of global consumption.
What are the largest producers of crude soybean oil in the world?
+
The countries with the highest volumes of crude soybean oil production in 2020 were Argentina (5.4M tonnes), China (3.7M tonnes) and the U.S. (3.3M tonnes), with a combined 39% share of global production.
What are the leading suppliers of crude soybean oil to Nigeria?
+
In value terms, Viet Nam ($56K) constituted the largest supplier of crude soybean oil to Nigeria.
What is the average export price for crude soybean oil in Nigeria?
+
The average crude soybean oil export price stood at $398 per tonne in 2020, approximately reflecting the previous year.
What is the average import price for crude soybean oil in Nigeria?
+
In 2020, the average crude soybean oil import price amounted to $748 per tonne, flattening at the previous year.

Product coverage:
• Prodcom 10412100 - Crude soya-bean oil and its fractions (excluding chemically modified)

This report provides an in-depth analysis of the crude soybean oil 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 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
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 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
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, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

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