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Nigeria - Dried Or Smoked Fish - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPrice for Dried or Smoked Fish in Nigeria - 2022
Contents:
- Price for Dried or Smoked Fish in Nigeria (CIF) - 2022
- Price for Dried or Smoked Fish in Nigeria (FOB) - 2022
- Imports of Dried or Smoked Fish in Nigeria
- Exports of Dried or Smoked Fish in Nigeria
Price for Dried or Smoked Fish in Nigeria (CIF) - 2022
The average dried or smoked fish import price stood at $3,957 per ton in June 2022, increasing by 8.7% against the previous month. Over the period from June 2021 to June 2022, it increased at an average monthly rate of +1.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Average prices varied noticeably amongst the major supplying countries. In June 2022, the country with the highest price was the UK ($4,270 per ton), while the price for Norway ($3,682 per ton) was amongst the lowest.
From June 2021 to June 2022, the most notable rate of growth in terms of prices was attained by Iceland (+1.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Dried or Smoked Fish in Nigeria (FOB) - 2022
The average dried or smoked fish export price stood at $7,418 per ton in 2022, growing by 7.9% against the previous year. Over the period under review, the export price, however, saw a pronounced shrinkage. The growth pace was the most rapid in 2019 when the average export price increased by 20%. Over the period under review, the average export prices attained the peak figure at $11,618 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($54,969 per ton), while the average price for exports to the United Arab Emirates ($550 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 Hong Kong SAR (+10.5%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Dried or Smoked Fish in Nigeria
Dried or smoked fish imports into Nigeria amounted to 36K tons in 2022, surging by 4.8% compared with 2021 figures. In general, total imports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +18.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -10.6% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 85%. As a result, imports attained the peak of 40K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, dried or smoked fish imports rose notably to $136M in 2022. Overall, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +26.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +103.3% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 102%. Imports peaked in 2022 and are expected to retain growth in the near future.
Import of Dried or Smoked Fish in Nigeria (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Iceland | 45.1 | 104 | 84.6 | 74.8 | 18.4% |
Norway | 6.3 | 14.2 | 22.6 | 41.3 | 87.2% |
Faroe Islands | 4.1 | 9.9 | 2.7 | 6.3 | 15.4% |
Mauritania | N/A | 0.2 | 0.9 | 1.0 | 123.6% |
Ireland | 0.3 | 0.4 | 0.5 | 0.6 | 26.0% |
China | 0.3 | 0.4 | 0.4 | 0.5 | 18.6% |
Others | 10.8 | 5.6 | 14.4 | 11.5 | 2.1% |
Total | 66.9 | 135 | 126 | 136 | 26.7% |
Top Suppliers of Dried or Smoked Fish to Nigeria in 2022:
- Iceland (19.1K tons)
- Norway (10.2K tons)
- Faroe Islands (1.6K tons)
- Mauritania (0.9K tons)
- China (0.6K tons)
- Ireland (0.6K tons)
Exports of Dried or Smoked Fish in Nigeria
In 2022, overseas shipments of dried or smoked fish decreased by -1.4% to 349 tons, falling for the second consecutive year after two years of growth. The total export volume increased at an average annual rate of +4.6% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 28%. As a result, the exports reached the peak of 390 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, dried or smoked fish exports rose remarkably to $2.6M in 2022. The total export value increased at an average annual rate of +5.4% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 24% against the previous year. As a result, the exports reached the peak of $2.7M. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
Export of Dried or Smoked Fish in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Hong Kong SAR | 596 | 538 | 652 | 1,089 | 22.3% |
Macao SAR | 991 | 1,238 | 744 | 703 | -10.8% |
China | 393 | 462 | 554 | 475 | 6.5% |
United States | 0.6 | 237 | 193 | 107 | 462.9% |
Canada | 25.0 | 74.4 | 121 | 92.7 | 54.8% |
Ireland | 30.5 | 54.2 | 47.5 | 29.2 | -1.4% |
United Arab Emirates | 10.6 | 16.4 | 18.6 | 13.4 | 8.1% |
Iceland | 27.6 | 22.2 | 18.2 | 10.6 | -27.3% |
United Kingdom | 80.6 | 55.7 | 27.7 | 8.7 | -52.4% |
Niger | 15.5 | 11.2 | 13.3 | 6.2 | -26.3% |
Others | 41.1 | 37.6 | 44.5 | 54.5 | 9.9% |
Total | 2,211 | 2,747 | 2,434 | 2,590 | 5.4% |
Top Export Markets for Dried or Smoked Fish from Nigeria in 2022:
- China (151.2 tons)
- Canada (73.8 tons)
- Macao SAR (28.2 tons)
- United Arab Emirates (24.4 tons)
- Hong Kong SAR (19.8 tons)
- United States (11.6 tons)
- Niger (10.4 tons)
- Iceland (4.6 tons)
- Ireland (3.9 tons)
- United Kingdom (2.3 tons)
This report provides an in-depth analysis of the market for dried or smoked fish 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:
- Prodcom 10202100 - Fish fillets, dried, salted or in brine, but not smoked
- Prodcom 10202350 - Dried fish, whether or not salted, fish, salted but not dried, fish in brine (excluding fillets, smoked, heads, tails and maws)
- Prodcom 10202425 - Smoked Pacific, Atlantic and Danube salmon (including fillets, e xcluding heads, tails and maws)
- Prodcom 10202455 - Smoked herrings (including fillets, excluding heads, tails and maws)
- Prodcom 10202485 - Smoked fish (excluding herrings, Pacific, Atlantic and Danube salmon), including fillets, excluding head, tails and maws
- Prodcom 10202200 - Flours, meals and pellets of fish, fit for human consumption, f ish livers and roes, dried, smoked, salted or in brine
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.
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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
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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
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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
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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
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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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 VOLUME AND VALUE
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
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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
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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
- 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
- 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
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