Liqueurs and Cordials Price in Nigeria - 2022
Contents:
- Liqueurs and Cordials Price in Nigeria (CIF) - 2022
- Liqueurs and Cordials Price in Nigeria (FOB) - 2022
- Liqueurs and Cordials Imports in Nigeria
- Liqueurs and Cordials Exports in Nigeria
Liqueurs and Cordials Price in Nigeria (CIF) - 2022
In 2022, the average liqueurs and cordials import price amounted to $2.7 per litre, shrinking by -9.9% against the previous year. In general, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when the average import price increased by 40%. Over the period under review, average import prices hit record highs at $4.5 per litre in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($6.8 per litre), while the price for India ($0.8 per litre) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Liqueurs and Cordials Price in Nigeria (FOB) - 2022
The average liqueurs and cordials export price stood at $2.7 per litre in 2022, dropping by -32.7% against the previous year. Overall, the export price, however, continues to indicate a slight increase. The pace of growth appeared the most rapid in 2015 when the average export price increased by 164%. As a result, the export price attained the peak level of $6 per litre. From 2016 to 2022, the average export prices remained at a lower figure.
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 Ireland ($12 per litre), while the average price for exports to Niger ($1 per litre) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cyprus (+37.3%), while the prices for the other major destinations experienced more modest paces of growth.
Liqueurs and Cordials Imports in Nigeria
In 2022, supplies from abroad of liqueurs and cordialses decreased by -10% to 1.2M litres, falling for the second year in a row after two years of growth. Overall, imports showed a deep downturn. The growth pace was the most rapid in 2020 with an increase of 17% against the previous year. As a result, imports reached the peak of 2M litres. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, liqueurs and cordials imports declined sharply to $3.2M in 2022. Over the period under review, imports saw a deep slump. The most prominent rate of growth was recorded in 2020 when imports increased by 13% against the previous year. As a result, imports reached the peak of $5.6M. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Liqueurs and Cordials in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 283 | 583 | 241 | 208 | -9.8% |
| Ireland | 1,867 | 2,135 | 431 | 201 | -52.4% |
| South Africa | 213 | 298 | 210 | 183 | -4.9% |
| Germany | 396 | 700 | 127 | 116 | -33.6% |
| Italy | 691 | 751 | 89.0 | 74.4 | -52.4% |
| Poland | 43.4 | 231 | 108 | 68.2 | 16.3% |
| United States | 108 | 40.1 | 14.3 | 59.6 | -18.0% |
| Lithuania | 61.8 | 100 | 16.4 | 54.7 | -4.0% |
| Netherlands | 521 | 376 | 111 | 42.6 | -56.6% |
| Spain | 21.5 | 81.9 | 37.7 | 24.3 | 4.2% |
| India | 104 | 190 | 1.0 | 20.8 | -41.5% |
| France | 501 | 0.6 | 47.9 | 19.4 | -66.2% |
| Others | 184 | 140 | 2,548 | 2,155 | 127.1% |
| Total | 4,995 | 5,626 | 3,981 | 3,227 | -13.6% |
Top Suppliers of Liqueurs and Cordials to Nigeria in 2022:
- South Africa (75.2K litres)
- Ireland (71.7K litres)
- United Kingdom (71.6K litres)
- Poland (57.4K litres)
- Italy (48.9K litres)
- Germany (32.8K litres)
- Lithuania (30.9K litres)
- India (25.8K litres)
- Spain (18.5K litres)
- United States (8.4K litres)
- France (7.5K litres)
- Netherlands (6.3K litres)
Liqueurs and Cordials Exports in Nigeria
In 2022, the amount of liqueurs and cordialses exported from Nigeria fell significantly to 12K litres, which is down by -17% against 2021. Overall, exports faced a precipitous slump. The pace of growth appeared the most rapid in 2021 when exports increased by 658%. Over the period under review, the exports hit record highs at 31K litres in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
In value terms, liqueurs and cordials exports declined dramatically to $32K in 2022. Over the period under review, exports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 751% against the previous year. As a result, the exports reached the peak of $57K, and then dropped rapidly in the following year.
| Export of Liqueurs and Cordials in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Benin | 0.7 | 1.2 | 5.2 | 8.5 | 129.8% |
| Niger | N/A | N/A | N/A | 5.2 | 0% |
| Austria | 0.3 | 0.8 | 5.7 | 2.8 | 110.5% |
| Ireland | 0.6 | 2.7 | 2.3 | 1.9 | 46.8% |
| Germany | 0.2 | 0.6 | 1.0 | 1.8 | 108.0% |
| Cyprus | N/A | 0.1 | N/A | 1.1 | 231.7% |
| Togo | 39.3 | N/A | N/A | N/A | 0% |
| United States | N/A | N/A | 24.9 | N/A | 0% |
| Others | 2.1 | 1.1 | 17.4 | 10.3 | 69.9% |
| Total | 43.1 | 6.6 | 56.6 | 31.6 | -9.8% |
Top Export Markets for Liqueurs and Cordials from Nigeria in 2022:
- Niger (5.0K litres)
- Benin (4.3K litres)
- Austria (0.5K litres)
- Germany (0.3K litres)
- Ireland (0.2K litres)
- Cyprus (0.2K litres)
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