Nigeria: Temporarily Preserved Vegetable Market 2024

Temporarily Preserved Vegetable Market Size in Nigeria

In 2022, after two years of growth, there was significant decline in the Nigerien temporarily preserved vegetable market, when its value decreased by -88.7% to $X. Overall, consumption, however, saw prominent growth. Over the period under review, the market hit record highs at $X in 2021, and then reduced notably in the following year.

Temporarily Preserved Vegetable Production in Nigeria

In value terms, temporarily preserved vegetable production stood at $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with a decrease of 99.9% against the previous year. Temporarily preserved vegetable production peaked in 2022 and is likely to continue growth in years to come.

Temporarily Preserved Vegetable Exports

Exports from Nigeria

For the fourth consecutive year, Nigeria recorded decline in shipments abroad of vegetables (temporarily preserved), which decreased by -43.6% to X kg in 2022. In general, exports recorded a significant decline. The most prominent rate of growth was recorded in 2018 with an increase of 361% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, temporarily preserved vegetable exports contracted dramatically to $X in 2022. Over the period under review, exports, however, continue to indicate a pronounced expansion. The growth pace was the most rapid in 2018 with an increase of 371%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

South Africa (X kg), Niger (X kg) and the United Arab Emirates (X kg) were the main destinations of temporarily preserved vegetable exports from Nigeria, together comprising 84% 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 South Africa (with a CAGR of +15.2%), while the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X) emerged as the key foreign market for vegetables (temporarily preserved) exports from Nigeria, comprising 53% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 20% share of total exports. It was followed by Benin, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Switzerland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-5.7% per year) and Benin (0.0% per year).

Export Prices by Country

In 2022, the average temporarily preserved vegetable export price amounted to $X per ton, surging by 46% against the previous year. In general, the export price enjoyed significant growth. The pace of growth appeared the most rapid in 2021 when the average export price increased by 127% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Niger ($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 Kenya (+301.0%), while the prices for the other major destinations experienced more modest paces of growth.

Temporarily Preserved Vegetable Imports

Imports into Nigeria

After two years of growth, purchases abroad of vegetables (temporarily preserved) decreased by -85.9% to X tons in 2022. In general, imports, however, showed a significant increase. The growth pace was the most rapid in 2021 with an increase of 1,407%. As a result, imports reached the peak of X tons, and then fell significantly in the following year.

In value terms, temporarily preserved vegetable imports declined markedly to $X in 2022. Overall, imports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 990%. As a result, imports reached the peak of $X, and then dropped rapidly in the following year.

Imports by Country

In 2022, Belgium (X tons) constituted the largest supplier of temporarily preserved vegetable to Nigeria, accounting for a 80% share of total imports. Moreover, temporarily preserved vegetable imports from Belgium exceeded the figures recorded by the second-largest supplier, China (X tons), eightfold. Lebanon (X tons) ranked third in terms of total imports with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium amounted to +50.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+23.4% per year) and Lebanon (+24.1% per year).

In value terms, the largest temporarily preserved vegetable suppliers to Nigeria were China ($X), Belgium ($X) and the United States ($X), with a combined 70% share of total imports.

Belgium, with a CAGR of +37.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average temporarily preserved vegetable import price amounted to $X per ton, dropping by -19.7% against the previous year. Overall, the import price recorded a abrupt setback. The pace of growth appeared the most rapid in 2016 an increase of 25% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cameroon (+203.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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