Report Update Apr 1, 2024

Nigeria - Paddy Rice - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Paddy Rice Market 2024

Paddy Rice Market Size in Nigeria

The Nigerien paddy rice market dropped to $X in 2022, falling by X% against the previous year. In general, consumption, however, enjoyed a strong increase. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Paddy Rice Production in Nigeria

In value terms, paddy rice production declined sharply to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a buoyant expansion. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average paddy rice yield in Nigeria amounted to X tons per ha, remaining relatively unchanged against the previous year. In general, the yield saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, the average paddy rice yield attained the maximum level at X tons per ha in 2018; however, from 2019 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of paddy rice were harvested in Nigeria; remaining relatively unchanged against the year before. Overall, the total harvested area indicated a moderate expansion from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, paddy rice harvested area increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2016 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to paddy rice production reached the maximum at X ha in 2017; however, from 2018 to 2022, the harvested area remained at a lower figure.

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Paddy Rice Exports

Exports from Nigeria

In 2022, overseas shipments of paddy rice decreased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports faced a abrupt slump. Over the period under review, the exports reached the maximum at X tons in 2021, and then contracted notably in the following year.

In value terms, paddy rice exports declined sharply to $X in 2022. Over the period under review, exports showed a precipitous descent. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Benin (X tons) was the main destination for paddy rice exports from Nigeria, accounting for a X% share of total exports. Moreover, paddy rice exports to Benin exceeded the volume sent to the second major destination, Niger (X tons), tenfold.

From 2019 to 2022, the average annual rate of growth in terms of volume to Benin totaled X%.

In value terms, Benin ($X) remains the key foreign market for paddy rice exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by Niger ($X), with a X% share of total exports.

From 2019 to 2022, the average annual rate of growth in terms of value to Benin totaled X%.

Export Prices by Country

In 2022, the average paddy rice export price amounted to $X per ton, approximately mirroring the previous year. Over the period under review, the export price showed a abrupt decline. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Niger ($X per ton), while the average price for exports to Benin totaled $X per ton.

From 2019 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (X%).

Paddy Rice Imports

Imports into Nigeria

In 2022, paddy rice imports into Nigeria surged to X tons, picking up by X% on the previous year's figure. In general, imports recorded resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, paddy rice imports skyrocketed to $X in 2022. Over the period under review, imports posted a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main paddy rice supplier to Nigeria, accounting for a approx. X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%.

In value terms, China ($X) constituted the largest supplier of paddy rice to Nigeria.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%.

Import Prices by Country

The average paddy rice import price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price posted resilient growth. The pace of growth was the most pronounced in 2013 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2014 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 China.

From 2012 to 2022, the rate of growth in terms of prices for Brazil amounted to X% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for paddy rice in the world?

The countries with the highest volumes of consumption in 2023 were China, India and Bangladesh, together accounting for 59% of global consumption. Indonesia, Vietnam, Thailand, Myanmar, the Philippines and Pakistan lagged somewhat behind, together comprising a further 24%.

What are the largest producers of paddy rice in the world?

The countries with the highest volumes of production in 2022 were China, India and Bangladesh, with a combined 59% share of global production. Indonesia, Vietnam, Thailand, Myanmar, the Philippines and Pakistan lagged somewhat behind, together accounting for a further 24%.

What are the leading suppliers of paddy rice to Nigeria?

In value terms, China constituted the largest supplier of paddy rice to Nigeria.

What are the leading importers of paddy rice from Nigeria?

In value terms, Benin remains the key foreign market for paddy rice exports from Nigeria, comprising 83% of total exports. The second position in the ranking was taken by Niger, with a 16% share of total exports.

What is the average export price for paddy rice in Nigeria?

The average paddy rice export price stood at $656 per ton in 2022, approximately equating the previous year.

What is the average import price for paddy rice in Nigeria?

In 2022, the average paddy rice import price amounted to $1,726 per ton, growing by 35% against the previous year.

This report provides an in-depth analysis of the paddy rice market 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 2030.

Product coverage:

FCL 27 - Rice, paddy

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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023