Copra Price in Nigeria - 2022

Copra Price in Nigeria (CIF) - 2022

In 2022, the average copra import price amounted to $24,640 per ton, flattening at the previous year. Over the period under review, the import price, however, saw a significant increase. The pace of growth was the most pronounced in 2017 an increase of 29,820%. As a result, import price reached the peak level of $876,818 per ton. From 2018 to 2022, the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for Vietnam amounted to +64.5% per year.

Copra Imports in Nigeria

In 2022, imports of copras into Nigeria reduced to 2.6 tons, shrinking by -7.4% against the previous year's figure. Over the period under review, imports recorded a abrupt slump. The growth pace was the most rapid in 2021 with an increase of 17% against the previous year.

In value terms, copra imports shrank to $64K in 2022. The total import value increased at an average annual rate of +9.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 20% against the previous year. As a result, imports attained the peak of $70K, and then declined in the following year.