Price for Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats in Nigeria - 2023

Contents:

1. Price for Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats in Nigeria (CIF) - 2022
2. Price for Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats in Nigeria (FOB) - 2022
3. Imports of Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats in Nigeria
4. Exports of Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats in Nigeria

Price for Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats in Nigeria (CIF) - 2022

The average import price for cereal grains; rolled or flaked, of cereals excluding barley and oatses stood at $1,306 per ton in 2022, surging by 15% against the previous year. In general, the import price, however, faced a abrupt decline. The most prominent rate of growth was recorded in 2020 an increase of 110% against the previous year. The import price peaked at $4,566 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 United Arab Emirates ($1,709 per ton), while the price for Spain ($742 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats in Nigeria (FOB) - 2022

In 2022, the average export price for cereal grains; rolled or flaked, of cereals excluding barley and oatses amounted to $874 per ton, with an increase of 5.5% against the previous year. Overall, the export price, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2020 when the average export price increased by 344%. Over the period under review, the average export prices hit record highs at $1,512 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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 Sweden ($2,609 per ton), while the average price for exports to Angola ($154 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 Saudi Arabia (+317.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats in Nigeria

In 2022, overseas purchases of cereal grains; rolled or flaked, of cereals excluding barley and oatses decreased by -32.9% to 1K tons, falling for the second year in a row after two years of growth. Overall, imports, however, saw significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 847%. As a result, imports reached the peak of 3.9K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of cereal grains; rolled or flaked, of cereals excluding barley and oatses shrank notably to $1.4M in 2022. Over the period under review, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 1,887%. As a result, imports attained the peak of $4.4M. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

Top Suppliers of Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats to Nigeria in 2022:

1. United Kingdom (503.0 tons)
2. Spain (220.0 tons)
3. China (152.4 tons)
4. Latvia (102.1 tons)
5. United Arab Emirates (59.7 tons)

Exports of Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats in Nigeria

In 2022, shipments abroad of cereal grains; rolled or flaked, of cereals excluding barley and oatses was finally on the rise to reach 50 tons for the first time since 2019, thus ending a two-year declining trend. In general, exports posted significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of cereal grains; rolled or flaked, of cereals excluding barley and oatses surged to $44K in 2022. Overall, exports enjoyed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Cereal Grains; Rolled or Flaked, of Cereals Excluding Barley and Oats from Nigeria in 2022:

1. Canada (26.8 tons)
2. Netherlands (8.4 tons)
3. United Arab Emirates (5.6 tons)
4. Sweden (2.2 tons)
5. India (2.0 tons)
6. Angola (1.4 tons)
7. Ireland (1.3 tons)
8. Finland (1.2 tons)

Source: IndexBox Market Intelligence Platform