Price for Flour and Meal; of Potatoes in Nigeria - 2022
Contents:
- Price for Flour and Meal; of Potatoes in Nigeria (CIF) - 2022
- Price for Flour and Meal; of Potatoes in Nigeria (FOB) - 2022
- Imports of Flour and Meal; of Potatoes in Nigeria
- Exports of Flour and Meal; of Potatoes in Nigeria
Price for Flour and Meal; of Potatoes in Nigeria (CIF) - 2022
The average import price for flour and meal; of potatoeses stood at $2,328 per ton in June 2022, with a decrease of -4.6% against the previous month. In general, the import price, however, showed a resilient increase. The most prominent rate of growth was recorded in September 2021 an increase of 36% m-o-m. Over the period under review, average import prices hit record highs at $2,957 per ton in April 2022; however, from May 2022 to June 2022, import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In June 2022, the country with the highest price was the UK ($2,501 per ton), while the price for the Netherlands stood at $1,668 per ton.
From June 2021 to June 2022, the most notable rate of growth in terms of prices was attained by China (+17.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Flour and Meal; of Potatoes in Nigeria (FOB) - 2022
In 2022, the average export price for flour and meal; of potatoeses amounted to $781 per ton, surging by 5.2% against the previous year. Overall, the export price, however, showed a abrupt decrease. The pace of growth appeared the most rapid in 2017 an increase of 59% against the previous year. Over the period under review, the average export prices reached the peak figure at $2,005 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Israel ($1,912 per ton), while the average price for exports to Ghana ($521 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 the UK (+6.3%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Flour and Meal; of Potatoes in Nigeria
In 2022, overseas purchases of flour and meal; of potatoeses decreased by -63.2% to 17K tons, falling for the second year in a row after two years of growth. In general, imports, however, continue to indicate a resilient increase. The growth pace was the most rapid in 2020 with an increase of 511% against the previous year. As a result, imports reached the peak of 78K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, flour and meal; of potatoes imports contracted markedly to $29M in 2022. Over the period under review, imports, however, showed a resilient expansion. The growth pace was the most rapid in 2020 with an increase of 358%. As a result, imports attained the peak of $99M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Flour and Meal; of Potatoes in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 13.3 | 86.1 | 40.0 | 13.0 | -0.8% |
| United Kingdom | N/A | N/A | N/A | 12.3 | 0% |
| Netherlands | 2.5 | 3.3 | 2.6 | 0.9 | -28.9% |
| Others | 5.7 | 9.4 | 10.4 | 2.5 | -24.0% |
| Total | 21.6 | 98.8 | 53.0 | 28.6 | 9.8% |
Top Suppliers of Flour and Meal; of Potatoes to Nigeria in 2022:
- China (11.7K tons)
- United Kingdom (3.8K tons)
- Netherlands (0.6K tons)
Exports of Flour and Meal; of Potatoes in Nigeria
In 2022, approx. 57 tons of flour and meal; of potatoeses were exported from Nigeria; shrinking by -37.1% on the year before. Over the period under review, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 286% against the previous year. As a result, the exports reached the peak of 91 tons, and then reduced rapidly in the following year.
In value terms, flour and meal; of potatoes exports plummeted to $45K in 2022. Overall, exports, however, enjoyed notable growth. The most prominent rate of growth was recorded in 2021 when exports increased by 210% against the previous year. As a result, the exports reached the peak of $67K, and then fell dramatically in the following year.
| Export of Flour and Meal; of Potatoes in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 22.5 | 4.7 | 21.1 | 12.5 | -17.8% |
| Ghana | 2.1 | 3.1 | 20.8 | 12.3 | 80.3% |
| United Kingdom | 1.7 | 1.3 | 2.3 | 7.4 | 63.3% |
| Italy | 4.3 | 3.3 | 5.1 | 3.4 | -7.5% |
| Ireland | N/A | N/A | N/A | 1.8 | 0% |
| United States | 5.6 | 3.9 | 5.8 | 1.3 | -38.5% |
| Israel | N/A | N/A | 7.6 | 0.3 | -96.1% |
| Others | 5.4 | 5.3 | 4.6 | 5.6 | 1.2% |
| Total | 41.6 | 21.7 | 67.4 | 44.5 | 2.3% |
Top Export Markets for Flour and Meal; of Potatoes from Nigeria in 2022:
- Ghana (23.6 tons)
- Canada (17.4 tons)
- United Kingdom (6.0 tons)
- Italy (5.5 tons)
- Ireland (1.0 tons)
- United States (0.9 tons)
- Israel (0.2 tons)
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