Price for Flour, Meal, and Flakes of Potatoes in Nigeria - 2022
Contents:
- Price for Flour, Meal, and Flakes of Potatoes in Nigeria (CIF) - 2022
- Price for Flour, Meal, and Flakes of Potatoes in Nigeria (FOB) - 2022
- Imports of Flour, Meal, and Flakes of Potatoes in Nigeria
- Exports of Flour, Meal, and Flakes of Potatoes in Nigeria
Price for Flour, Meal, and Flakes of Potatoes in Nigeria (CIF) - 2022
The average import price for flour, meal, and flakes of potatoeses stood at $2,083 per ton in June 2022, shrinking by -3.7% against the previous month. Overall, the import price, however, showed buoyant growth. The pace of growth appeared the most rapid in September 2021 when the average import price increased by 33% m-o-m. The import price peaked at $2,203 per ton in March 2022; however, from April 2022 to June 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2022, the country with the highest price was the UK ($2,250 per ton), while the price for China ($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 the UK (+6.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Flour, Meal, and Flakes of Potatoes in Nigeria (FOB) - 2022
In 2022, the average export price for flour, meal, and flakes of potatoeses amounted to $614 per ton, falling by -11.8% against the previous year. Overall, the export price saw a perceptible contraction. The pace of growth appeared the most rapid in 2017 an increase of 224% against the previous year. Over the period under review, the average export prices reached the maximum at $1,313 per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($642 per ton), while the average price for exports to the United States amounted to $605 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+17.6%), while the prices for the other major destinations experienced a decline.
Imports of Flour, Meal, and Flakes of Potatoes in Nigeria
In 2022, overseas purchases of flour, meal, and flakes of potatoeses decreased by -51.6% to 27K tons, falling for the second year in a row after two years of growth. In general, imports, however, posted a perceptible increase. The pace of growth was the most pronounced in 2020 with an increase of 290% against the previous year. As a result, imports reached the peak of 98K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of flour, meal, and flakes of potatoeses contracted to $55M in 2022. Over the period under review, imports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 308%. As a result, imports attained the peak of $114M. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
| Import of Flour, Meal, and Flakes of Potatoes in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 8.9 | 53.1 | 27.6 | 46.7 | 73.8% |
| China | 12.3 | 47.2 | 28.5 | 2.5 | -41.2% |
| Netherlands | 2.2 | 5.0 | 1.8 | 2.2 | 0.0% |
| Belgium | 2.1 | 3.3 | 2.3 | 1.9 | -3.3% |
| India | 0.4 | 1.7 | 1.4 | 0.1 | -37.0% |
| Others | 2.1 | 3.8 | 1.9 | 1.2 | -17.0% |
| Total | 28.0 | 114 | 63.5 | 54.7 | 25.0% |
Top Suppliers of Flour, Meal, and Flakes of Potatoes to Nigeria in 2022:
- United Kingdom (21.0K tons)
- China (2.5K tons)
- Netherlands (1.5K tons)
- Belgium (1.3K tons)
- India (0.1K tons)
Exports of Flour, Meal, and Flakes of Potatoes in Nigeria
In 2022, approx. 95 tons of flour, meal, and flakes of potatoeses were exported from Nigeria; which is down by -2.2% on 2021. Over the period under review, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 320% against the previous year. As a result, the exports reached the peak of 97 tons, and then dropped modestly in the following year.
In value terms, exports of flour, meal, and flakes of potatoeses contracted to $58K in 2022. In general, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 224% against the previous year. As a result, the exports attained the peak of $67K, and then dropped in the following year.
| Export of Flour, Meal, and Flakes of Potatoes in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | N/A | N/A | N/A | 42.9 | 0% |
| United Kingdom | N/A | N/A | 4.0 | 15.3 | 282.5% |
| United Arab Emirates | 2.0 | 5.8 | 0.3 | N/A | -61.3% |
| South Africa | 0.5 | 0.2 | 0.8 | N/A | 26.5% |
| Israel | N/A | N/A | 13.0 | N/A | 0% |
| Canada | 35.9 | 12.0 | 37.3 | N/A | 1.9% |
| Others | 2.9 | 2.9 | 12.1 | N/A | 104.3% |
| Total | 41.4 | 20.8 | 67.4 | 58.2 | 12.0% |
Top Export Markets for Flour, Meal, and Flakes of Potatoes from Nigeria in 2022:
- United States (70.9 tons)
- United Kingdom (23.8 tons)
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