Price for Oleaginous Fruits; Palm Nuts and Kernels, Whether or Not Broken in Nigeria - 2023
Contents:
- Price for Oleaginous Fruits; Palm Nuts and Kernels, Whether or Not Broken in Nigeria (FOB) - 2022
- Price for Oleaginous Fruits; Palm Nuts and Kernels, Whether or Not Broken in Nigeria (CIF) - 2022
- Exports of Oleaginous Fruits; Palm Nuts and Kernels, Whether or Not Broken in Nigeria
- Imports of Oleaginous Fruits; Palm Nuts and Kernels, Whether or Not Broken in Nigeria
Price for Oleaginous Fruits; Palm Nuts and Kernels, Whether or Not Broken in Nigeria (FOB) - 2022
In 2022, the average export price for oleaginous fruits; palm nuts and kernels, whether or not broken amounted to $624 per ton, waning by -53.3% against the previous year. Over the period under review, the export price, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 65%. Over the period under review, the average export prices attained the maximum at $1,850 per ton in 2019; however, from 2020 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 Ghana ($4,839 per ton), while the average price for exports to Portugal ($81 per ton) was amongst the lowest.
From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+191.9%), while the prices for the other major destinations experienced a decline.
Price for Oleaginous Fruits; Palm Nuts and Kernels, Whether or Not Broken in Nigeria (CIF) - 2022
In 2022, the average import price for oleaginous fruits; palm nuts and kernels, whether or not broken amounted to $48,578 per ton, with an increase of 15% against the previous year. Over the period under review, the import price posted a significant increase. The growth pace was the most rapid in 2019 when the average import price increased by 3,873% against the previous year. As a result, import price reached the peak level of $94,055 per ton. From 2020 to 2022, the average import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($131,783 per ton), while the price for Ghana ($1,153 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (+21.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Oleaginous Fruits; Palm Nuts and Kernels, Whether or Not Broken in Nigeria
For the fourth consecutive year, Nigeria recorded growth in shipments abroad of oleaginous fruits; palm nuts and kernels, whether or not broken, which increased by 101% to 15K tons in 2022. Overall, exports saw significant growth. The growth pace was the most rapid in 2020 when exports increased by 8,002% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to see steady growth in years to come.
In value terms, exports of oleaginous fruits; palm nuts and kernels, whether or not broken shrank to $9.5M in 2022. In general, exports showed significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 6,699%.
| Export of Oleaginous Fruits; Palm Nuts and Kernels, Whether or Not Broken in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 0.1 | 3.7 | 5.0 | 6.0 | 291.5% |
| Vietnam | N/A | N/A | 1.7 | 0.7 | -58.8% |
| Turkey | N/A | 0.6 | 1.0 | 0.6 | 0.0% |
| Portugal | N/A | 0.1 | 0.1 | 0.6 | 144.9% |
| Greece | N/A | 0.1 | N/A | 0.5 | 123.6% |
| Japan | N/A | 0.8 | 1.1 | 0.4 | -29.3% |
| India | N/A | 0.3 | 0.6 | 0.1 | -42.3% |
| Ghana | N/A | 0.3 | N/A | N/A | 0% |
| Others | N/A | 0.1 | 0.7 | 0.6 | 144.9% |
| Total | 0.1 | 6.1 | 10.1 | 9.5 | 356.3% |
Top Export Markets for Oleaginous Fruits; Palm Nuts and Kernels, Whether or Not Broken from Nigeria in 2022:
- Portugal (8.0K tons)
- China (4.6K tons)
- Vietnam (0.5K tons)
- Turkey (0.4K tons)
- Greece (0.4K tons)
- Japan (0.3K tons)
- India (0.1K tons)
Imports of Oleaginous Fruits; Palm Nuts and Kernels, Whether or Not Broken in Nigeria
In 2022, approx. 21 tons of oleaginous fruits; palm nuts and kernels, whether or not broken were imported into Nigeria; with an increase of 257% against 2021 figures. Over the period under review, imports showed a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 1,859% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to continue growth in the near future.
In value terms, imports of oleaginous fruits; palm nuts and kernels, whether or not broken skyrocketed to $1M in 2022. Overall, imports posted a moderate expansion. The pace of growth was the most pronounced in 2021 when imports increased by 955% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Oleaginous Fruits; Palm Nuts and Kernels, Whether or Not Broken in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Benin | 108 | 15.4 | 79.5 | 541 | 71.1% |
| Thailand | 109 | 1.9 | 52.9 | 261 | 33.8% |
| Costa Rica | 26.5 | 0.4 | 0.6 | 147 | 77.0% |
| Cote d'Ivoire | 13.5 | 0.2 | 2.5 | 32.8 | 34.4% |
| Belgium | N/A | N/A | N/A | 7.9 | 0% |
| South Africa | 3.3 | 0.1 | 1.2 | 4.9 | 14.1% |
| Indonesia | 459 | 5.1 | 76.5 | 3.3 | -80.7% |
| Ghana | 1.2 | N/A | 0.5 | 2.5 | 27.7% |
| Cameroon | N/A | N/A | 3.1 | N/A | 0% |
| Others | 202 | 0.1 | 27.6 | 1.6 | -80.1% |
| Total | 922 | 23.2 | 244 | 1,002 | 2.8% |
Top Suppliers of Oleaginous Fruits; Palm Nuts and Kernels, Whether or Not Broken to Nigeria in 2022:
- Benin (9.9 tons)
- Cote d'Ivoire (3.3 tons)
- Ghana (2.2 tons)
- Thailand (2.0 tons)
- Belgium (1.5 tons)
- Costa Rica (1.3 tons)
- South Africa (0.3 tons)
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