Spices; Mixtures Price in Nigeria - 2022
Contents:
- Spices; Mixtures Price in Nigeria (CIF) - 2022
- Spices; Mixtures Price in Nigeria (FOB) - 2022
- Spices; Mixtures Imports in Nigeria
- Spices; Mixtures Exports in Nigeria
Spices; Mixtures Price in Nigeria (CIF) - 2022
In 2022, the average spices; mixtures import price amounted to $1,755 per ton, with a decrease of -19% against the previous year. In general, the import price, however, saw a modest increase. The growth pace was the most rapid in 2019 when the average import price increased by 57%. Over the period under review, average import prices attained the peak figure at $5,048 per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($1,515 per ton), while the price for China ($309 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-2.4%), while the prices for the other major suppliers experienced a decline.
Spices; Mixtures Price in Nigeria (FOB) - 2022
The average spices; mixtures export price stood at $2,012 per ton in 2022, dropping by -7.6% against the previous year. Overall, the export price showed a deep slump. The pace of growth appeared the most rapid in 2017 when the average export price increased by 90% against the previous year. The export price peaked at $3,451 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($3,372 per ton), while the average price for exports to Canada ($783 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 Indonesia (-1.8%), while the prices for the other major destinations experienced a decline.
Spices; Mixtures Imports in Nigeria
In 2022, the amount of spices; mixtureses imported into Nigeria skyrocketed to 5.2K tons, picking up by 95% compared with 2021. Overall, imports saw significant growth. The growth pace was the most rapid in 2020 with an increase of 546% against the previous year. As a result, imports reached the peak of 5.6K tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, spices; mixtures imports soared to $9.1M in 2022. In general, imports posted significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 523% against the previous year. As a result, imports reached the peak of $12M. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Spices; Mixtures in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 0.2 | 4.6 | 2.7 | 3.3 | 154.6% |
| France | 0.3 | 2.6 | 0.5 | 2.8 | 110.5% |
| Others | 1.4 | 5.3 | 2.5 | 3.0 | 28.9% |
| Total | 2.0 | 12.5 | 5.7 | 9.1 | 65.7% |
Top Suppliers of Spices; Mixtures to Nigeria in 2022:
- France (2.3K tons)
- India (2.2K tons)
Spices; Mixtures Exports in Nigeria
In 2022, the amount of spices; mixtureses exported from Nigeria contracted to 175 tons, with a decrease of -11.8% compared with the year before. Overall, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 51% against the previous year.
In value terms, spices; mixtures exports fell dramatically to $352K in 2022. Over the period under review, exports showed a deep contraction. The pace of growth appeared the most rapid in 2021 when exports increased by 59%.
| Export of Spices; Mixtures in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 269 | 125 | 76.0 | 97.8 | -28.6% |
| United Arab Emirates | 20.7 | 0.4 | 64.3 | 73.1 | 52.3% |
| Saudi Arabia | 48.3 | 50.5 | 8.3 | 33.0 | -11.9% |
| Canada | 18.9 | 22.0 | 24.0 | 30.7 | 17.6% |
| India | 23.6 | 36.8 | 141 | 15.4 | -13.3% |
| Sudan | 12.2 | 9.1 | 12.0 | 13.7 | 3.9% |
| Morocco | 7.1 | 1.6 | 0.6 | 2.4 | -30.3% |
| South Africa | 14.4 | N/A | N/A | N/A | 0% |
| Others | 23.1 | 27.0 | 105 | 85.8 | 54.9% |
| Total | 437 | 272 | 432 | 352 | -7.0% |
Top Export Markets for Spices; Mixtures from Nigeria in 2022:
- South Africa (undefined tons)
- Indonesia (55.2 tons)
- United Arab Emirates (44.0 tons)
- Canada (39.2 tons)
- Saudi Arabia (9.8 tons)
- Sudan (9.2 tons)
- India (7.4 tons)
- Morocco (1.8 tons)
8100
This report provides an in-depth analysis of the ginger market in Nigeria.
70
This report provides an in-depth analysis of the market for spices except pepper or ginger in Nigeria.
1550
This report provides an in-depth analysis of the market for dog and cat food in Nigeria.
1959
This report provides an in-depth analysis of the apricot market in Nigeria.
2306
This report provides an in-depth analysis of the virgin olive oil market in Nigeria.
1213
This report provides an in-depth analysis of the paint and varnish market in Nigeria.
285
This report provides an in-depth analysis of the olive oil market in Nigeria.
365
This report provides an in-depth analysis of the encased lead pencil market in Nigeria.
307
This report provides an in-depth analysis of the assembled clock movements market in Nigeria.
389
This report provides an in-depth analysis of the diphosphorus pentaoxide market in Nigeria.
899
The global ginger market is forecast to reach USD 10.3 billion by 2030, growing at a CAGR of 4.7% during the forecast period (2022-2030).
1011
In the wake of the pandemic, the ginger market has accelerated its growth as demand for foods with a reputation for immunity system health has soared to unprecedented heights. India, which almost tripled its export of ginger in 2020, may become a serious competitor to the main global supplier - China. The majority of the developed countries have increased the volume of imports, which, in the context of Covid restrictions and a shortage of container traffic, has led to an increase in prices for the product.
781
The global ginger market revenue amounted to $5.3B in 2018, jumping by 2.8% against the previous year. This figure...
7494
Global ginger consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
8584
Global ginger imports amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
1379
The global ginger market recorded a positive trend over the period under review, growing from X thousand tons in 2007 to X thousand tons in 2015 with a CAGR +X>
7882
The value of total imports on the global ginger market in 2015 stood at X million USD. There was an annual increase of +X% for the period from 2007 to 2015. In physical terms, imports of ginger was X thousand tons i
11862
In 2015, the leading ginger consuming markets were India (X%), Indonesia (X%), Nepal (X%), Nigeria (X%), and China (X%), together accounting for approximately X% of global consumption. These countries were also amongst the leading producers on the g
1618
From 2007 to 2015, global exports on the ginger market grew by +X% per year, amounting to X million USD in 2015. In physical terms, exports were X thousand tons in 2015, X thousand tons more than the year before.
3383
The global ginger production was estimated at X thousand tons in 2015, which was X thousand tons (or X%) more than in 2014.
