Price for Meat of Bovine Animals; Fresh or Chilled in Nigeria - 2022

Price for Meat of Bovine Animals; Fresh or Chilled in Nigeria (CIF) - 2022

In 2022, the average import price for meat of bovine animals; fresh or chilled amounted to $6,838 per ton, declining by -9.4% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by 170%. As a result, import price reached the peak level of $18,013 per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Africa ($8,375 per ton), while the price for the United States totaled $3,446 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+1.1%), while the prices for the other major suppliers experienced a decline.

Price for Meat of Bovine Animals; Fresh or Chilled in Nigeria (FOB) - 2022

In 2022, the average export price for meat of bovine animals; fresh or chilled amounted to $476 per ton, standing approx. at the previous year. Over the period under review, the export price saw a significant increase. The pace of growth appeared the most rapid in 2013 an increase of 496,512% against the previous year. Over the period under review, the average export prices reached the maximum at $4,448 per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to -7.2% per year.

Imports of Meat of Bovine Animals; Fresh or Chilled in Nigeria

For the third year in a row, Nigeria recorded decline in overseas purchases of meat of bovine animals; fresh or chilled, which decreased by -89.2% to 1.9 tons in 2022. Overall, imports faced a dramatic descent. The smallest decline of -9.1% was in 2021.

In value terms, imports of meat of bovine animals; fresh or chilled shrank sharply to $13K in 2022. In general, imports showed a dramatic curtailment. The growth pace was the most rapid in 2021 with an increase of 18%.

Import of Meat of Bovine Animals; Fresh or Chilled in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
South Africa	49.7	43.5	47.1	11.2	-39.1%
United States	60.1	24.4	19.8	2.1	-67.3%
Niger	0.5	0.6	0.7	N/A	18.3%
France	5.9	11.3	21.0	N/A	88.7%
Netherlands	10.9	13.8	10.0	N/A	-4.2%
Others	15.5	22.0	37.3	N/A	55.1%
Total	143	116	136	13.3	-54.7%

Top Suppliers of Meat of Bovine Animals; Fresh or Chilled to Nigeria in 2022:

South Africa (1335.0 kg)
United States (605.0 kg)

Exports of Meat of Bovine Animals; Fresh or Chilled in Nigeria

In 2022, exports of meat of bovine animals; fresh or chilled from Nigeria reduced rapidly to 15 tons, waning by -50% against the previous year. In general, exports saw a sharp downturn.

In value terms, exports of meat of bovine animals; fresh or chilled reduced notably to $7.1K in 2022. Overall, exports continue to indicate a significant curtailment.