Onion Price in Nigeria - 2023
Contents:
- Onion Price in Nigeria (CIF) - 2022
- Onion Price in Nigeria (FOB) - 2022
- Onion Imports in Nigeria
- Onion Exports in Nigeria
Onion Price in Nigeria (CIF) - 2022
In 2022, the average onion import price amounted to $869 per ton, surging by 130% against the previous year. Overall, the import price, however, saw a drastic downturn. The import price peaked at $1,821 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
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 ($1,325 per ton), while the price for China ($484 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+24.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Onion Price in Nigeria (FOB) - 2022
The average onion export price stood at $103 per ton in 2022, increasing by 2.5% against the previous year. In general, the export price, however, faced a precipitous slump. The export price peaked at $818 per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Niger ($116 per ton), while the average price for exports to Benin amounted to $70 per ton.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (-17.1%), while the prices for the other major destinations experienced a decline.
Onion Imports in Nigeria
Onion imports into Nigeria skyrocketed to 11K tons in 2022, growing by 49,473% compared with 2021. Over the period under review, imports saw significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, onion imports skyrocketed to $6.3M in 2022. Overall, imports saw a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Onion in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | N/A | N/A | N/A | 3.5 | 0% |
| Germany | N/A | N/A | N/A | 2.4 | 0% |
| Netherlands | N/A | N/A | N/A | 0.4 | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | N/A | N/A | N/A | 6.3 | 0% |
Top Suppliers of Onion to Nigeria in 2022:
- China (7.3K tons)
- Germany (3.0K tons)
- Netherlands (0.3K tons)
Onion Exports in Nigeria
In 2022, the amount of onions (dry) exported from Nigeria declined sharply to 3.4K tons, reducing by -75.9% against the year before. Over the period under review, exports continue to indicate a sharp decline.
In value terms, onion exports declined markedly to $395K in 2022. Overall, exports saw a significant decrease.
| Export of Onion in Nigeria (Thousand USD) | |||
|---|---|---|---|
| COUNTRY | 2021 | 2022 | CAGR, 2021-2022 |
| Niger | 1,385 | 370 | -73.3% |
| Benin | 143 | 14.7 | -89.7% |
| Others | 80.7 | 10.7 | -86.7% |
| Total | 1,609 | 395 | -75.5% |
Top Export Markets for Onion from Nigeria in 2022:
- Niger (3.2K tons)
- Benin (0.2K tons)
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