Flakes; of Potatoes Price in Nigeria - 2022

Flakes; of Potatoes Price in Nigeria (CIF) - 2022

The average flakes; of potatoes import price stood at $1,816 per ton in 2022, growing by 48% against the previous year. Overall, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, flakes; of potatoes import price increased by +114.3% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($2,355 per ton), while the price for Algeria ($349 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Flakes; of Potatoes Price in Nigeria (FOB) - 2022

In 2022, the average flakes; of potatoes export price amounted to $970 per ton, with an increase of 162% against the previous year. Overall, the export price showed a slight increase. Over the period under review, the average export prices hit record highs at $1,366 per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($1,500 per ton), while the average price for exports to South Africa ($146 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 Canada (+0.9%), while the prices for the other major destinations experienced mixed trend patterns.

Flakes; of Potatoes Imports in Nigeria

In 2022, approx. 26K tons of flakes; of potatoeses were imported into Nigeria; growing by 203% on the previous year's figure. In general, imports enjoyed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, flakes; of potatoes imports surged to $47M in 2022. Over the period under review, imports enjoyed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Flakes; of Potatoes in Nigeria (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United Kingdom	0.8	4.0	4.1	17.5	179.7%
China	1.1	3.0	2.0	9.0	101.5%
Belgium	1.2	1.9	1.2	5.4	65.1%
India	0.1	0.7	0.9	3.7	233.2%
Barbados	0.3	0.4	0.3	1.3	63.0%
Netherlands	0.4	0.4	0.1	1.0	35.7%
Canada	0.2	0.3	0.2	0.9	65.1%
Algeria	0.3	0.4	0.2	0.8	38.7%
Others	2.2	4.3	1.7	7.7	51.8%
Total	6.5	15.4	10.5	47.2	93.6%

Top Suppliers of Flakes; of Potatoes to Nigeria in 2022:

United Kingdom (7.4K tons)
China (4.6K tons)
India (3.6K tons)
Belgium (3.4K tons)
Algeria (2.2K tons)
Barbados (1.2K tons)
Canada (0.7K tons)
Netherlands (0.3K tons)

Flakes; of Potatoes Exports in Nigeria

In 2022, overseas shipments of flakes; of potatoeses decreased by -69.2% to 1.8 tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 613%.

In value terms, flakes; of potatoes exports fell sharply to $1.7K in 2022. In general, exports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 529% against the previous year.

Export of Flakes; of Potatoes in Nigeria (USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United Kingdom	N/A	N/A	N/A	1,600	0%
South Africa	11.0	141	717	23.0	27.9%
Canada	179	1,037	1,275	12.0	-59.4%
Others	19.0	137	147	92.0	69.2%
Total	209	1,315	2,139	1,727	102.2%