Nigeria: Overview of the Market for Evaporated And Condensed Milk 2020

Market Size for Evaporated And Condensed Milk in Nigeria

The revenue of the evaporated and condensed milk market in Nigeria amounted to $X in 2018, remaining relatively unchanged against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, evaporated and condensed milk consumption continues to indicate a moderate decline. The growth pace was the most rapid in 2017 when the market value increased by X% against the previous year. Over the period under review, the evaporated and condensed milk market hit record highs at $X in 2014; however, from 2015 to 2018, consumption remained at a lower figure.

Exports of Evaporated And Condensed Milk

Exports from Nigeria

In 2018, the exports of evaporated and condensed milk from Nigeria amounted to X tonnes, rising by X% against the previous year. Over the period under review, evaporated and condensed milk exports continue to indicate an outstanding increase. The growth pace was the most rapid in 2017 with an increase of X% year-to-year. Over the period under review, evaporated and condensed milk exports attained their maximum in 2018 and are expected to retain its growth in the near future.

In value terms, evaporated and condensed milk exports stood at $X in 2018. Over the period under review, evaporated and condensed milk exports continue to indicate an outstanding increase. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, evaporated and condensed milk exports hit record highs in 2018 and are likely to continue its growth in the immediate term.

Exports by Country

Ghana (X tonnes) was the main destination for evaporated and condensed milk exports from Nigeria, with a X% share of total exports. Moreover, evaporated and condensed milk exports to Ghana exceeded the volume sent to the second major destination, Gambia (X tonnes), sevenfold.

From 2007 to 2018, the average annual growth rate of volume to Ghana stood at +X%.

In value terms, Ghana ($X) remains the key foreign market for evaporated and condensed milk exports from Nigeria, comprising X% of total evaporated and condensed milk exports. The second position in the ranking was occupied by Gambia ($X), with a X% share of total exports.

From 2007 to 2018, the average annual rate of growth in terms of value to Ghana amounted to +X%.

Export Prices by Country

In 2018, the average evaporated and condensed milk export price amounted to $X per tonne, leveling off at the previous year. Over the period under review, the evaporated and condensed milk export price, however, continues to indicate a perceptible drop. The growth pace was the most rapid in 2017 an increase of X% year-to-year. Over the period under review, the average export prices for evaporated and condensed milk hit record highs at $X per tonne in 2007; however, from 2008 to 2018, export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2018, the country with the highest price was Ghana ($X per tonne), while the average price for exports to Gambia amounted to $X per tonne.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Gambia.

Imports of Evaporated And Condensed Milk

Imports into Nigeria

In 2018, the amount of evaporated and condensed milk imported into Nigeria totaled X tonnes, jumping by X% against the previous year. Overall, evaporated and condensed milk imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by X% year-to-year. Over the period under review, evaporated and condensed milk imports reached their maximum at X tonnes in 2007; however, from 2008 to 2018, imports failed to regain their momentum.

In value terms, evaporated and condensed milk imports totaled $X in 2018. In general, evaporated and condensed milk imports, however, continue to indicate a mild slump. The growth pace was the most rapid in 2017 with an increase of X% year-to-year. Imports peaked at $X in 2014; however, from 2015 to 2018, imports remained at a lower figure.

Imports by Country

The Netherlands (X tonnes), Indonesia (X tonnes) and Peru (X tonnes) were the main suppliers of evaporated and condensed milk imports to Nigeria, together comprising X% of total imports. Andorra, Germany, Saudi Arabia, China and Barbados lagged somewhat behind, together accounting for a further X 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main suppliers, was attained by Andorra (+X% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest evaporated and condensed milk suppliers to Nigeria were Andorra ($X), the Netherlands ($X) and Barbados ($X), with a combined X% share of total imports.

Andorra experienced the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while imports for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the average evaporated and condensed milk import price amounted to $X per tonne, therefore, remained relatively stable against the previous year. Overall, the evaporated and condensed milk import price continues to indicate a mild decline. The pace of growth was the most pronounced in 2010 an increase of X% year-to-year. Over the period under review, the average import prices for evaporated and condensed milk hit record highs at $X per tonne in 2011; however, from 2012 to 2018, import prices remained at a lower figure.

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

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Barbados, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform