Nigeria: Ghee Market Overview 2021

Ghee Market Size in Nigeria

The Nigerien ghee market dropped sharply to $X in 2019, reducing by -X% 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, consumption saw a abrupt curtailment. The most prominent rate of growth was recorded in 2010 when the market value increased by X% against the previous year. Over the period under review, the market hit record highs at $X in 2011; however, from 2012 to 2019, consumption remained at a lower figure.

Ghee Exports

Exports from Nigeria

Ghee exports from Nigeria contracted to X kg in 2019, declining by -X% compared with the year before. Over the period under review, exports continue to indicate a dramatic shrinkage. The smallest decline of -X% was in 2008. Over the period under review, exports attained the maximum at X tonnes in 2007; however, from 2008 to 2019, exports stood at a somewhat lower figure.

In value terms, ghee exports dropped notably to $X in 2019. Overall, exports faced a sharp contraction. The smallest decline of -X% was in 2010. Over the period under review, exports hit record highs at $X in 2007; however, from 2008 to 2019, exports remained at a lower figure.

Exports by Country

South Africa (X kg) was the main destination for ghee exports from Nigeria, accounting for a approx. X% share of total exports.

From 2007 to 2019, the average annual growth rate of volume to South Africa stood at +X%.

In value terms, South Africa ($X) also remains the key foreign market for ghee exports from Nigeria.

From 2007 to 2019, the average annual growth rate of value to South Africa totaled +X%.

Export Prices by Country

In 2019, the average ghee export price amounted to $X per tonne, falling by -X% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average export price increased by X% against the previous year. Over the period under review, average export prices reached the maximum at $X per tonne in 2015; however, from 2016 to 2019, export prices failed to regain the momentum.

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

From 2007 to 2019, the rate of growth in terms of prices for South Africa amounted to +X% per year.

Ghee Imports

Imports into Nigeria

For the fifth year in a row, Nigeria recorded decline in supplies from abroad of ghee, which decreased by -X% to X tonnes in 2019. In general, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of X tonnes. From 2015 to 2019, the growth imports remained at a somewhat lower figure.

In value terms, ghee imports contracted remarkably to $X in 2019. Overall, imports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2010 when imports increased by X% year-to-year. Over the period under review, imports attained the peak figure at $X in 2011; however, from 2012 to 2019, imports stood at a somewhat lower figure.

Imports by Country

In 2019, Indonesia (X tonnes) constituted the largest supplier of ghee to Nigeria, with a X% share of total imports. Moreover, ghee imports from Indonesia exceeded the figures recorded by the second-largest supplier, France (X tonnes), threefold. Argentina (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual growth rate of volume from Indonesia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: France (-X% per year) and Argentina (-X% per year).

In value terms, Argentina ($X), Barbados ($X) and New Zealand ($X) appeared to be the largest ghee suppliers to Nigeria, together accounting for X% of total imports. These countries were followed by France, Indonesia and India, which together accounted for a further X the main suppliers, India recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average ghee import price stood at $X per tonne in 2019, falling by -X% against the previous year. Overall, import price indicated a pronounced expansion 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, ghee import price increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per tonne in 2018, and then contracted in the following year.

Prices varied noticeably by the country of origin; 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 ghee in the world?

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India (3.7M tonnes) constituted the country with the largest volume of ghee consumption, comprising approx. 73% of total volume. Moreover, ghee consumption in India exceeded the figures recorded by the second-largest consumer, Pakistan (850K tonnes), fourfold.

What are the largest producers of ghee in the world?

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The country with the largest volume of ghee production was India (3.7M tonnes), comprising approx. 73% of total volume. Moreover, ghee production in India exceeded the figures recorded by the second-largest producer, Pakistan (850K tonnes), fourfold.

What are the leading suppliers of ghee to Nigeria?

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In value terms, the largest ghee suppliers to Nigeria were Argentina ($1.5M), Barbados ($943K) and New Zealand ($494K), with a combined 76% share of total imports. These countries were followed by France, Indonesia and India, which together accounted for a further 18%.

What are the leading importers of ghee from Nigeria?

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In value terms, South Africa ($490) remains the key foreign market for ghee exports from Nigeria.

What is the average export price for ghee in Nigeria?

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The average ghee export price stood at $2,520 per tonne in 2019, waning by -15.1% against the previous year.

What is the average import price for ghee in Nigeria?

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The average ghee import price stood at $5,732 per tonne in 2019, declining by -11.9% against the previous year.