Nigeria - Rice - Market Analysis, Forecast, Size, Trends and Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingNigeria: Rice Market 2024
Rice Market Size in Nigeria
The Nigerien rice market shrank to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption, however, enjoyed strong growth. Rice consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.
Rice Production in Nigeria
In value terms, rice production shrank to $X in 2022 estimated in export price. Overall, production, however, saw a prominent increase. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. Rice production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.
The average yield of rice in Nigeria amounted to X tons per ha in 2022, approximately equating 2021. In general, the yield showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the yield increased by X%. Over the period under review, the average rice yield attained the maximum level at X tons per ha in 2018; however, from 2019 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 rice harvested area in Nigeria shrank to X ha in 2022, remaining stable against the previous year. In general, the total harvested area indicated noticeable growth 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, rice harvested area increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to rice production reached the maximum at X ha in 2017; however, from 2018 to 2022, the harvested area remained at a lower figure.
Rice Exports
Exports from Nigeria
After four years of growth, shipments abroad of rice decreased by X% to X tons in 2022. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped dramatically in the following year.
In value terms, rice exports dropped notably to $X in 2022. Over the period under review, exports, however, posted a moderate increase. The pace of growth appeared the most rapid in 2019 with an increase of X%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.
Exports by Country
Benin (X tons) was the main destination for rice exports from Nigeria, accounting for a X% share of total exports. Moreover, rice exports to Benin exceeded the volume sent to the second major destination, Niger (X tons), fourfold. The United Arab Emirates (X tons) ranked third in terms of total exports with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of volume to Benin amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (X% per year) and the United Arab Emirates (X% per year).
In value terms, Benin ($X) remains the key foreign market for rice exports from Nigeria, comprising X% of total exports. The second position in the ranking was taken by Niger ($X), with a X% share of total exports. It was followed by the UK, with a X% share.
From 2012 to 2022, the average annual growth rate of value to Benin amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (X% per year) and the UK (X% per year).
Export Prices by Country
The average rice export price stood at $X per ton in 2022, falling by X% against the previous year. In general, the export price, however, enjoyed a tangible expansion. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Benin ($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 the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.
Rice Imports
Imports into Nigeria
Rice imports into Nigeria contracted remarkably to X tons in 2022, waning by X% compared with 2021 figures. In general, imports recorded a sharp downturn. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, rice imports declined markedly to $X in 2022. Over the period under review, imports showed a precipitous setback. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.
Imports by Country
In 2022, India (X tons) constituted the largest supplier of rice to Nigeria, accounting for a X% share of total imports. Moreover, rice imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Thailand (X tons) ranked third in terms of total imports with an X% share.
From 2012 to 2022, the average annual rate of growth in terms of volume from India totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Thailand (X% per year).
In value terms, China ($X) constituted the largest supplier of rice to Nigeria, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by Brazil, with a X% share.
From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Brazil (X% per year).
Import Prices by Country
In 2022, the average rice import price amounted to $X per ton, jumping by X% against the previous year. In general, the import price, however, continues to indicate a abrupt contraction. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the 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
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- 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
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- 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- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- 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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- 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- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- 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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
-
LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
Recommended reports
This report provides an in-depth analysis of the rice market in Asia.
This report provides an in-depth analysis of the rice market in the U.S..
This report provides an in-depth analysis of the rice market in China.
This report provides an in-depth analysis of the rice market in the EU.
This report provides an in-depth analysis of the global rice market.