Price for Fish; Fillets, Frozen, Other than Swordfish (Xiphias Gladius) and Toothfish (Dissostichus Spp.) in Nigeria - 2022
Contents:
- Price for Fish; Fillets, Frozen, Other than Swordfish (Xiphias Gladius) and Toothfish (Dissostichus Spp.) in Nigeria (FOB) - 2022
- Price for Fish; Fillets, Frozen, Other than Swordfish (Xiphias Gladius) and Toothfish (Dissostichus Spp.) in Nigeria (CIF) - 2022
- Exports of Fish; Fillets, Frozen, Other than Swordfish (Xiphias Gladius) and Toothfish (Dissostichus Spp.) in Nigeria
- Imports of Fish; Fillets, Frozen, Other than Swordfish (Xiphias Gladius) and Toothfish (Dissostichus Spp.) in Nigeria
Price for Fish; Fillets, Frozen, Other than Swordfish (Xiphias Gladius) and Toothfish (Dissostichus Spp.) in Nigeria (FOB) - 2022
In 2022, the average export price for fish amounted to $314 per ton, waning by -18.6% against the previous year. Over the period under review, the export price saw a deep downturn. The most prominent rate of growth was recorded in 2017 a decrease of -18.6% against the previous year. Over the period under review, the average export prices reached the peak figure at $2,460 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Belgium.
From 2012 to 2022, the rate of growth in terms of prices for Belgium amounted to -18.6% per year.
Price for Fish; Fillets, Frozen, Other than Swordfish (Xiphias Gladius) and Toothfish (Dissostichus Spp.) in Nigeria (CIF) - 2022
The average import price for fish stood at $2,240 per ton in 2022, approximately equating the previous year. Overall, the import price saw a perceptible curtailment. The most prominent rate of growth was recorded in 2019 when the average import price increased by less than 0.1% against the previous year. Over the period under review, average import prices reached the peak figure at $3,026 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($13,667 per ton), while the price for Vietnam ($1,512 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+7.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Fish; Fillets, Frozen, Other than Swordfish (Xiphias Gladius) and Toothfish (Dissostichus Spp.) in Nigeria
For the fourth year in a row, Nigeria recorded growth in overseas shipments of fish, which increased by 11% to 798 tons in 2022. The total export volume increased at an average annual rate of +10.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 11%. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, exports of fish reduced to $250K in 2022. Overall, exports, however, recorded a abrupt descent.
| Export of Fish; Fillets, Frozen, Other than Swordfish (Xiphias Gladius) and Toothfish (Dissostichus Spp.) in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Belgium | 341 | 308 | 278 | 250 | -9.8% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 341 | 308 | 278 | 250 | -9.8% |
Top Export Markets for Fish; Fillets, Frozen, Other than Swordfish (Xiphias Gladius) and Toothfish (Dissostichus Spp.) from Nigeria in 2022:
- Belgium (798.2 tons)
Imports of Fish; Fillets, Frozen, Other than Swordfish (Xiphias Gladius) and Toothfish (Dissostichus Spp.) in Nigeria
For the third year in a row, Nigeria recorded decline in purchases abroad of fish, which decreased by -20% to 7 tons in 2022. In general, imports showed a sharp shrinkage. The smallest decline of -20% was in 2021.
In value terms, imports of fish declined rapidly to $16K in 2022. Overall, imports recorded a dramatic descent. The smallest decline of -20% was in 2021.
| Import of Fish; Fillets, Frozen, Other than Swordfish (Xiphias Gladius) and Toothfish (Dissostichus Spp.) in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Africa | 27.6 | 22.8 | 18.6 | 15.1 | -18.2% |
| Vietnam | 2.3 | 1.3 | 0.7 | 0.4 | -44.2% |
| Others | 0.5 | 0.3 | 0.2 | 0.1 | -41.5% |
| Total | 30.5 | 24.4 | 19.5 | 15.6 | -20.0% |
Top Suppliers of Fish; Fillets, Frozen, Other than Swordfish (Xiphias Gladius) and Toothfish (Dissostichus Spp.) to Nigeria in 2022:
- South Africa (6.7 tons)
- Vietnam (0.2 tons)
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