Nigeria: Wheat Starch Market 2024

Wheat Starch Market Size in Nigeria

The Nigerien wheat starch market expanded remarkably to $X in 2022, rising by X% against the previous year. Over the period under review, consumption saw a significant expansion. Wheat starch consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Wheat Starch Production in Nigeria

In value terms, wheat starch production expanded sharply to $X in 2022 estimated in export price. Over the period under review, production recorded a significant expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. Wheat starch production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Wheat Starch Exports

Exports from Nigeria

In 2022, approx. X tons of wheat starch were exported from Nigeria; declining by X% compared with 2021 figures. Over the period under review, exports continue to indicate a dramatic shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of X% 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, wheat starch exports dropped to $X in 2022. In general, exports continue to indicate a dramatic decline. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X kg), Ghana (X kg) and South Africa (X kg) were the main destinations of wheat starch exports from Nigeria, with a combined X% share 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 the United Arab Emirates (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, the United Arab Emirates ($X), Ghana ($X) and South Africa ($X) appeared to be the largest markets for wheat starch exported from Nigeria worldwide, with a combined X% share of total exports.

Among the main countries of destination, the United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average wheat starch export price amounted to $X per ton, declining by X% against the previous year. Overall, the export price, however, recorded a significant increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while the average price for exports to South Africa ($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 South Africa (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wheat Starch Imports

Imports into Nigeria

In 2022, after three years of growth, there was significant decline in supplies from abroad of wheat starch, when their volume decreased by X% to X tons. Over the period under review, imports, however, continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Imports peaked at X tons in 2021, and then fell remarkably in the following year.

In value terms, wheat starch imports dropped notably to $X in 2022. Overall, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then fell dramatically in the following year.

Imports by Country

China (X tons), India (X tons) and the United Arab Emirates (X tons) were the main suppliers of wheat starch imports to Nigeria, with a combined X% share of total imports. The United States and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

From 2013 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wheat starch suppliers to Nigeria were India ($X), China ($X) and the United Arab Emirates ($X), together accounting for X% of total imports. The United States and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Hong Kong SAR, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wheat starch import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price recorded strong growth. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were India ($X per ton) and the United States ($X per ton), while the price for China ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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