![Nigeria - Ground-Nut - Market Analysis, Forecast, Size, Trends and Insights](/landing/img/reports/nigeria-ground-nut-market-analysis-forecast-size-trends-and-insights.webp)
Nigeria - Ground-Nut - Market Analysis, Forecast, Size, Trends and Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingGroundnuts Price in Nigeria - 2022
Contents:
- Groundnuts Price in Nigeria (CIF) - 2022
- Groundnuts Price in Nigeria (FOB) - 2022
- Groundnuts Imports in Nigeria
- Groundnuts Exports in Nigeria
Groundnuts Price in Nigeria (CIF) - 2022
The average groundnuts import price stood at $314 per ton in 2022, shrinking by -3.7% against the previous year. Over the period under review, the import price recorded a abrupt descent. The pace of growth was the most pronounced in 2013 when the average import price increased by 26% against the previous year. Over the period under review, average import prices attained the peak figure at $881 per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for Niger.
From 2012 to 2022, the rate of growth in terms of prices for Niger amounted to -8.8% per year.
Groundnuts Price in Nigeria (FOB) - 2022
The average groundnuts export price stood at $691 per ton in 2022, shrinking by -40.2% against the previous year. In general, the export price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2017 when the average export price increased by 153% against the previous year. As a result, the export price attained the peak level of $3,208 per ton. From 2018 to 2022, the average export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($1,815 per ton), while the average price for exports to Niger totaled $236 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (-16.9%), while the prices for the other major destinations experienced a decline.
Groundnuts Imports in Nigeria
For the fourth year in a row, Nigeria recorded growth in supplies from abroad of ground-nut (in-shell), which increased by 19% to 277 tons in 2022. Overall, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 137% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.
In value terms, groundnuts imports reached $87K in 2022. Over the period under review, imports showed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 124%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the near future.
Import of Groundnuts in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Niger | 28.8 | 64.4 | 75.6 | 86.8 | 44.4% |
Others | N/A | N/A | N/A | N/A | 0% |
Total | 28.8 | 64.4 | 75.6 | 86.8 | 44.4% |
Top Suppliers of Groundnuts to Nigeria in 2022:
- Niger (276.7 tons)
Groundnuts Exports in Nigeria
Groundnuts exports from Nigeria surged to 245 tons in 2022, picking up by 103% against the previous year's figure. Overall, exports recorded a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 331% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, groundnuts exports skyrocketed to $170K in 2022. Over the period under review, exports showed significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 333% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in years to come.
Export of Groundnuts in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United Kingdom | 17.0 | 14.3 | 122 | 122 | 92.9% |
Niger | 21.0 | 6.3 | 10.2 | 41.0 | 25.0% |
Others | 24.6 | 11.7 | 7.2 | 6.2 | -36.8% |
Total | 62.7 | 32.3 | 140 | 170 | 39.4% |
Top Export Markets for Groundnuts from Nigeria in 2022:
- Niger (174.0 tons)
- United Kingdom (67.4 tons)
This report provides an in-depth analysis of the groundnuts market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 242 - Groundnuts, in shell
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
-
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
-
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
-
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
-
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
-
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
-
LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
This report provides an in-depth analysis of the groundnuts market in Nigeria.
This report provides an in-depth analysis of the global groundnuts market.
This report provides an in-depth analysis of the groundnuts market in Nigeria.
This report provides an in-depth analysis of the global groundnuts market.
In 2022, peanut prices are forecast to remain stable due to rising global production. This year, the world’s peanut seed output is set to reach a record 50.7M tons, increasing by 2.3% y/y.
Indonesia dominates in the global oil crop trade. In 2014, Indonesia exported X million tons of oil crops totaling X billion USD, X% over the previous year. Its primary trading partner was India, where it supplied X% of its total oil crop exports
In 2022, peanut prices are forecast to remain stable due to rising global production. This year, the world’s peanut seed output is set to reach a record 50.7M tons, increasing by 2.3% y/y.