Price for Cereals; Maize (Corn), Other than Seed in Nigeria - 2022
Contents:
- Price for Cereals; Maize (Corn), Other than Seed in Nigeria (CIF) - 2022
- Price for Cereals; Maize (Corn), Other than Seed in Nigeria (FOB) - 2022
- Imports of Cereals; Maize (Corn), Other than Seed in Nigeria
- Exports of Cereals; Maize (Corn), Other than Seed in Nigeria
Price for Cereals; Maize (Corn), Other than Seed in Nigeria (CIF) - 2022
In 2022, the average import price for cereals; maize (corn), other than seeds amounted to $650 per ton, with a decrease of -6.9% against the previous year. Over the period under review, the import price, however, saw a prominent increase. The most prominent rate of growth was recorded in 2019 when the average import price increased by 90% against the previous year. Over the period under review, average import prices hit record highs at $698 per ton in 2021, and then shrank in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($1,663 per ton), while the price for China ($82 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+18.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cereals; Maize (Corn), Other than Seed in Nigeria (FOB) - 2022
In 2022, the average export price for cereals; maize (corn), other than seeds amounted to $1,348 per ton, picking up by 2,364% against the previous year. In general, the export price recorded a significant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
As there is only one major export destination, the average price level is determined by prices for the UK.
From 2012 to 2022, the rate of growth in terms of prices for the UK amounted to +7.9% per year.
Imports of Cereals; Maize (Corn), Other than Seed in Nigeria
For the third consecutive year, Nigeria recorded decline in purchases abroad of cereals; maize (corn), other than seeds, which decreased by -90% to 75 tons in 2022. Over the period under review, imports continue to indicate a significant decrease. The smallest decline of -44.8% was in 2020.
In value terms, imports of cereals; maize (corn), other than seeds plummeted to $49K in 2022. Overall, imports faced a dramatic slump. The smallest decline of -45% was in 2020.
| Import of Cereals; Maize (Corn), Other than Seed in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | N/A | N/A | N/A | 38.5 | 0% |
| Italy | 13.4 | N/A | N/A | 7.2 | -18.7% |
| China | N/A | N/A | N/A | 3.2 | 0% |
| Russia | 296 | N/A | N/A | N/A | 0% |
| Argentina | 3,856 | 2,423 | N/A | N/A | -37.2% |
| South Africa | 171 | 6.9 | 292 | N/A | 30.7% |
| United States | 770 | 454 | 109 | N/A | -62.4% |
| Others | 143 | 3.2 | 123 | N/A | -7.3% |
| Total | 5,250 | 2,887 | 525 | 48.9 | -79.0% |
Top Suppliers of Cereals; Maize (Corn), Other than Seed to Nigeria in 2022:
- China (38.5 tons)
- United Kingdom (32.4 tons)
- Italy (4.3 tons)
Exports of Cereals; Maize (Corn), Other than Seed in Nigeria
Exports of cereals; maize (corn), other than seeds from Nigeria contracted dramatically to 3.8 tons in 2022, which is down by -99.6% on the previous year's figure. Over the period under review, exports continue to indicate a significant contraction. The smallest decline of -79.1% was in 2021.
In value terms, exports of cereals; maize (corn), other than seeds plummeted to $5.1K in 2022. Overall, exports showed a sharp curtailment. The smallest decline of -79.8% was in 2021.
| Export of Cereals; Maize (Corn), Other than Seed in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | N/A | N/A | 0.1 | 5.1 | 5000.0% |
| Niger | 2,334 | 241 | 51.0 | N/A | -85.2% |
| Others | 1.9 | 25.0 | 2.8 | N/A | 21.4% |
| Total | 2,336 | 266 | 53.9 | 5.1 | -87.0% |
Top Export Markets for Cereals; Maize (Corn), Other than Seed from Nigeria in 2022:
- United Kingdom (3.8 tons)
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Designed to bring an unforgettable experience for children and adults alike, the Amaizing-Acres corn maze is certainly a place to visit this fall, a unique opportunity to enjoy a family get away surrounded by nature.
