Nigeria: Dry Peas Market Overview 2021

Dry Peas Market Size in Nigeria

In 2020, the Nigerien dry peas market decreased by -X% to $X, falling for the fourth consecutive year after two years of growth. Overall, consumption saw a deep reduction. The most prominent rate of growth was recorded in 2015 when the market value increased by X% against the previous year. Dry peas consumption peaked at $X in 2016; however, from 2017 to 2020, consumption stood at a somewhat lower figure.

Dry Peas Exports

Exports from Nigeria

In 2020, overseas shipments of peas (dry) increased by X% to X tonnes, rising for the second year in a row after three years of decline. In general, exports recorded a buoyant increase. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, exports hit record highs in 2020 and are likely to continue growth in years to come.

In value terms, dry peas exports skyrocketed to $X in 2020. Over the period under review, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% y-o-y. Over the period under review, exports attained the maximum in 2020 and are likely to continue growth in the immediate term.

Exports by Country

The U.S. (X tonnes) was the main destination for dry peas exports from Nigeria, with a X% share of total exports. Moreover, dry peas exports to the U.S. exceeded the volume sent to the second major destination, South Africa (X tonnes), eightfold.

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

In value terms, the U.S. ($X) remains the key foreign market for dry peas exports from Nigeria, comprising X% of total exports. The second position in the ranking was occupied by South Africa ($X), with a X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of value to the U.S. totaled +X%.

Export Prices by Country

The average dry peas export price stood at $X per tonne in 2020, jumping by X% against the previous year. Overall, the export price enjoyed prominent growth. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The export price peaked in 2020 and is expected to retain growth in the immediate term.

Prices varied noticeably by the country of destination; the country with the highest price was the U.S. ($X per tonne), while the average price for exports to South Africa totaled $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the U.S..

Dry Peas Imports

Imports into Nigeria

In 2020, supplies from abroad of peas (dry) decreased by -X% to X tonnes, falling for the fourth year in a row after two years of growth. Over the period under review, imports showed a abrupt contraction. The most prominent rate of growth was recorded in 2015 with an increase of X% year-to-year. Imports peaked at X tonnes in 2016; however, from 2017 to 2020, imports stood at a somewhat lower figure.

In value terms, dry peas imports contracted dramatically to $X in 2020. Overall, imports saw a perceptible contraction. The most prominent rate of growth was recorded in 2015 when imports increased by X% year-to-year. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, China (X tonnes) constituted the largest supplier of dry peas to Nigeria, accounting for a X% share of total imports. Moreover, dry peas imports from China exceeded the figures recorded by the second-largest supplier, Lebanon (X tonnes), twofold. The UK (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Lebanon (X% per year) and the UK (-X% per year).

In value terms, China ($X) constituted the largest supplier of dry peas to Nigeria, comprising X% of total imports. The second position in the ranking was occupied by Lebanon ($X), with a X% share of total imports. It was followed by the UK, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value from China amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Lebanon (X% per year) and the UK (-X% per year).

Import Prices by Country

In 2020, the average dry peas import price amounted to $X per tonne, declining by -X% against the previous year. In general, the import price, however, saw a remarkable increase. The pace of growth was the most pronounced in 2011 when the average import price increased by X% year-to-year. Over the period under review, average import prices attained the maximum at $X per tonne in 2019, and then contracted slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was China ($X per tonne), while the price for the U.S. ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for peas (dry) in the world?

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China (5.9M tonnes) constituted the country with the largest volume of dry peas consumption, accounting for 36% of total volume. Moreover, dry peas consumption in China exceeded the figures recorded by the second-largest consumer, Russia (2M tonnes), threefold. The third position in this ranking was occupied by India (922K tonnes), with a 5.6% share.

What are the largest producers of peas (dry) in the world?

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The countries with the highest volumes of dry peas production in 2020 were Canada (4.4M tonnes), China (3M tonnes) and Russia (2.6M tonnes), with a combined 60% share of global production.

What are the leading suppliers of peas (dry) to Nigeria?

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In value terms, China ($15K) constituted the largest supplier of dry peas to Nigeria, comprising 67% of total imports. The second position in the ranking was occupied by Lebanon ($5K), with a 23% share of total imports. It was followed by the UK, with a 7.9% share.

What are the leading importers of peas (dry) from Nigeria?

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In value terms, the U.S. ($35K) remains the key foreign market for dry peas exports from Nigeria, comprising 97% of total exports. The second position in the ranking was occupied by South Africa ($897), with a 2.5% share of total exports.

What is the average export price for peas (dry) in Nigeria?

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The average dry peas export price stood at $2,771 per tonne in 2020, growing by 81% against the previous year.

What is the average import price for peas (dry) in Nigeria?

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In 2020, the average dry peas import price amounted to $1,191 per tonne, falling by -4.5% against the previous year.