Price for Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws in Nigeria - 2022

Contents:

1. Price for Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws in Nigeria (CIF) - 2022
2. Price for Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws in Nigeria (FOB) - 2022
3. Imports of Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws in Nigeria
4. Exports of Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws in Nigeria

Price for Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws in Nigeria (CIF) - 2022

The average import price for fish; edible offal, other than shark fins, fish heads, tails and mawses stood at $3,629 per ton in 2022, flattening at the previous year. In general, the import price, however, saw a noticeable downturn. The most prominent rate of growth was recorded in 2019 when the average import price increased by 29% against the previous year. The import price peaked at $5,062 per ton in 2017; however, from 2018 to 2022, import prices remained at a 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 Norway ($3,847 per ton), while the price for China ($1,791 per ton) was amongst the lowest.

From 2016 to 2022, the most notable rate of growth in terms of prices was attained by Norway (-4.3%), while the prices for the other major suppliers experienced a decline.

Price for Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws in Nigeria (FOB) - 2022

In 2022, the average export price for fish; edible offal, other than shark fins, fish heads, tails and mawses amounted to $4,807 per ton, which is down by -2.1% against the previous year. Overall, the export price, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2013 an increase of 118% against the previous year. Over the period under review, the average export prices reached the maximum at $6,452 per ton in 2020; however, from 2021 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 Ireland ($62,000 per ton), while the average price for exports to Angola ($182 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 Canada (+23.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws in Nigeria

In 2022, after three years of growth, there was significant decline in supplies from abroad of fish; edible offal, other than shark fins, fish heads, tails and mawses, when their volume decreased by -24.9% to 5.6K tons. Over the period under review, imports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 2,745%.

In value terms, imports of fish; edible offal, other than shark fins, fish heads, tails and mawses shrank dramatically to $20M in 2022. Overall, imports, however, enjoyed significant growth. The growth pace was the most rapid in 2020 when imports increased by 2,267%.

Top Suppliers of Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws to Nigeria in 2022:

1. Iceland (3.9K tons)
2. Norway (1.3K tons)
3. United Kingdom (0.5K tons)

Exports of Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws in Nigeria

In 2022, overseas shipments of fish; edible offal, other than shark fins, fish heads, tails and mawses decreased by -17.4% to 109 kg for the first time since 2018, thus ending a three-year rising trend. In general, total exports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +10.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 53%.

In value terms, exports of fish; edible offal, other than shark fins, fish heads, tails and mawses shrank sharply to $524 in 2022. Overall, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +7.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -34.5% against 2020 indices. The growth pace was the most rapid in 2020 when exports increased by 91% against the previous year. As a result, the exports attained the peak of $800. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

Top Export Markets for Fish; Edible Offal, Other than Shark Fins, Fish Heads, Tails and Maws from Nigeria in 2022:

1. Angola (66.0 kg)
2. United Arab Emirates (7.0 kg)
3. Malawi (6.0 kg)
4. Sweden (4.0 kg)
5. France (3.0 kg)
6. Canada (2.0 kg)
7. Ireland (2.0 kg)

Source: IndexBox Market Intelligence Platform