Nigeria: Plantain Market 2024

Plantain Market Size in Nigeria

In 2022, the Nigerien plantain market decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. In general, consumption posted a mild expansion. Over the period under review, the market hit record highs at $X in 2021, and then contracted markedly in the following year.

Plantain Production in Nigeria

In value terms, plantain production reduced markedly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by X%. Plantain production peaked at $X in 2021, and then shrank notably in the following year.

In 2022, the average yield of plantains in Nigeria reached X tons per ha, stabilizing at the previous year's figure. In general, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the yield increased by X%. Over the period under review, the average plantain yield hit record highs at X tons per ha in 2017; however, from 2018 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The plantain harvested area in Nigeria amounted to X ha in 2022, therefore, remained relatively stable against 2021. Overall, the harvested area saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the harvested area increased by X% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2016 to 2022, the growth of the plantain harvested area remained at a somewhat lower figure.

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Plantain Exports

Exports from Nigeria

In 2022, shipments abroad of plantains increased by X% to X tons, rising for the second consecutive year after four years of decline. In general, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, plantain exports shrank significantly to $X in 2022. Overall, exports recorded a significant increase. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

The UK (X tons), Canada (X tons) and Niger (X tons) were the main destinations of plantain exports from Nigeria, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Canada ($X) and Georgia ($X) were the largest markets for plantain exported from Nigeria worldwide, together comprising X% of total exports.

Among the main countries of destination, Canada, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average plantain export price amounted to $X per ton, waning by X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by X%. The export price peaked at $X per ton in 2021, and then declined notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Georgia ($X per ton), while the average price for exports to Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (X%), while the prices for the other major destinations experienced more modest paces of growth.

Plantain Imports

Imports into Nigeria

In 2022, the amount of plantains imported into Nigeria soared to X tons, rising by X% on 2021 figures. Over the period under review, imports saw a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, plantain imports surged to $X in 2022. In general, imports posted significant growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest plantain supplier to Nigeria, accounting for a approx. X% share of total imports.

From 2014 to 2022, the average annual rate of growth in terms of volume from the Netherlands amounted to X.9%.

In value terms, the Netherlands ($X) constituted the largest supplier of plantains to Nigeria.

From 2014 to 2022, the average annual growth rate of value from the Netherlands amounted to X.8%.

Import Prices by Country

In 2022, the average plantain import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2014 to 2022, the rate of growth in terms of prices for the Netherlands amounted to X% per year.

Source: IndexBox Platform

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