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Nigeria - Jute And Jute-Like Fibers - Market Analysis, Forecast, Size, Trends and Insights
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Nigeria: Overview of the Market for Jute And Jute-Like Fibers 2021

Market Size for Jute And Jute-Like Fibers in Nigeria

The Nigerien jute and jute-like fibers market skyrocketed to $X in 2020, increasing by X% against the previous year. In general, consumption showed a buoyant expansion. The pace of growth was the most pronounced in 2015 when the market value increased by X% year-to-year. Jute and jute-like fibers consumption peaked in 2020 and is expected to retain growth in the immediate term.

Production of Jute And Jute-Like Fibers in Nigeria

In value terms, jute and jute-like fibers production totaled $X in 2020 estimated in export prices. Overall, the total production indicated a strong increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, production increased by +X% against 2018 indices. The growth pace was the most rapid in 2010 with an increase of X% y-o-y. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2020, production failed to regain the momentum.

The average yield of jute and jute-like fibers in Nigeria was estimated at X tonnes per ha in 2020, therefore, remained relatively stable against the year before. The yield figure increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of X% y-o-y. Over the period under review, the average jute and jute-like fibers yield reached the maximum level in 2020 and is likely to see steady growth in years to come. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2020, approx. X ha of jute and jute-like fibers were harvested in Nigeria; flattening at the previous year. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X% year-to-year. As a result, the harvested area attained the peak level of X ha; afterwards, it flattened through to 2020.

Exports of Jute And Jute-Like Fibers

Exports from Nigeria

In 2020, approx. X kg of jute and jute-like fibers were exported from Nigeria; standing approx. at 2019 figures. Overall, exports continue to indicate a temperate increase. The pace of growth was the most pronounced in 2008 with an increase of X% against the previous year. As a result, exports reached the peak of X kg. from 2009 to 2020, the growth exports failed to regain the momentum.

In value terms, jute and jute-like fibers exports amounted to $X in 2020. In general, exports recorded a strong increase. The pace of growth was the most pronounced in 2008 with an increase of X% against the previous year. As a result, exports attained the peak of $X. from 2009 to 2020, the growth exports remained at a lower figure.

Exports by Country

Benin (X kg) was the main destination for jute and jute-like fibers exports from Nigeria, with a X% share of total exports. Moreover, jute and jute-like fibers exports to Benin exceeded the volume sent to the second major destination, Ghana (X kg), sixfold.

From 2007 to 2013, the average annual growth rate of volume to Benin was relatively modest.

From 2007 to 2013, the average annual rate of growth in terms of value to Benin amounted to +X%.

Export Prices by Country

In 2013, the average jute and jute-like fibers export price amounted to $X per tonne, approximately equating the previous year. Over the period under review, the export price saw strong growth. The pace of growth appeared the most rapid in 2008 an increase of X% year-to-year. Over the period under review, average export prices reached the maximum at $X per tonne in 2010; however, from 2011 to 2013, export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Benin ($X per tonne), while the average price for exports to Ghana amounted to $X per tonne.

From 2007 to 2013, the most notable rate of growth in terms of prices was recorded for supplies to Benin.

Imports of Jute And Jute-Like Fibers

Imports into Nigeria

For the third consecutive year, Nigeria recorded growth in overseas purchases of jute and jute-like fibers, which increased by X% to X tonnes in 2020. In general, imports recorded a remarkable increase. The pace of growth appeared the most rapid in 2010 with an increase of X% y-o-y. Imports peaked in 2020 and are likely to see steady growth in the near future.

In value terms, jute and jute-like fibers imports surged to $X in 2020. Overall, imports recorded a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of X% y-o-y. Imports peaked in 2020 and are expected to retain growth in the near future.

Imports by Country

In 2020, Kenya (X tonnes) was the main supplier of jute and jute-like fibers to Nigeria, with a X% share of total imports. It was followed by Tanzania (X tonnes), with a X% share of total imports.

From 2007 to 2020, the average annual growth rate of volume from Kenya amounted to +X%.

In value terms, Kenya ($X) constituted the largest supplier of jute and jute-like fibers to Nigeria, comprising X% of total imports. The second position in the ranking was occupied by Tanzania ($X), with a X% share of total imports.

From 2007 to 2020, the average annual growth rate of value from Kenya stood at +X%.

Import Prices by Country

In 2020, the average jute and jute-like fibers import price amounted to $X per tonne, shrinking by -X% against the previous year. Over the last thirteen-year period, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2011 when the average import price increased by X% year-to-year. Over the period under review, average import prices hit record highs at $X per tonne in 2016; however, from 2017 to 2020, import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Kenya ($X per tonne), while the price for Tanzania amounted to $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Kenya.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for jute and jute-like fibers in the world?
+
The countries with the highest volumes of jute and jute-like fibers consumption in 2020 were India (2.1M tonnes), Bangladesh (1.5M tonnes) and China (79K tonnes), with a combined 92% share of global consumption.
What are the largest producers of jute and jute-like fibers in the world?
+
The countries with the highest volumes of jute and jute-like fibers production in 2020 were India (2.1M tonnes) and Bangladesh (1.7M tonnes).
What are the leading suppliers of jute and jute-like fibers to Nigeria?
+
In value terms, Kenya ($6.8M) constituted the largest supplier of jute and jute-like fibers to Nigeria, comprising 97% of total imports. The second position in the ranking was occupied by Tanzania ($89K), with a 1.3% share of total imports.
What is the average export price for jute and jute-like fibers in Nigeria?
+
The average jute and jute-like fibers export price stood at $1,543 per tonne in 2013, remaining constant against the previous year.
What is the average import price for jute and jute-like fibers in Nigeria?
+
The average jute and jute-like fibers import price stood at $1,380 per tonne in 2020, dropping by -2.3% against the previous year.

Product coverage:
• FCL 780 - Jute
• FCL 782 - Jute-like fibres

This report provides an in-depth analysis of the market for jute and jute-like fibers 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

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
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
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, HARVESTED AREA AND YIELD
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 2030
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:
Yield And Growth
Figure 15:
Exports And Growth
Figure 16:
Export Prices And Growth
Figure 17:
Market Size And Growth
Figure 18:
Per Capita Consumption
Figure 19:
Imports And Growth
Figure 20:
Import Prices
Figure 21:
Production, In Physical Terms, 2007–2020
Figure 22:
Production, In Value Terms, 2007–2020
Figure 23:
Area Harvested, 2007–2020
Figure 24:
Yield, 2007–2020
Figure 25:
Imports, In Physical Terms, 2007–2020
Figure 26:
Imports, In Value Terms, 2007–2020
Figure 27:
Imports, In Physical Terms, By Country, 2020
Figure 28:
Imports, In Physical Terms, By Country, 2007–2020
Figure 29:
Imports, In Value Terms, By Country, 2007–2020
Figure 30:
Import Prices, By Country Of Origin, 2007–2020
Figure 31:
Exports, In Physical Terms, 2007–2020
Figure 32:
Exports, In Value Terms, 2007–2020
Figure 33:
Exports, In Physical Terms, By Country, 2020
Figure 34:
Exports, In Physical Terms, By Country, 2007–2020
Figure 35:
Exports, In Value Terms, By Country, 2007–2020
Figure 36:
Export Prices, By Country Of Destination, 2007–2020
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