Price for Protein; Concentrates and Textured Protein Substances in Nigeria - 2022
Contents:
- Price for Protein; Concentrates and Textured Protein Substances in Nigeria (CIF) - 2022
- Price for Protein; Concentrates and Textured Protein Substances in Nigeria (FOB) - 2022
- Imports of Protein; Concentrates and Textured Protein Substances in Nigeria
- Exports of Protein; Concentrates and Textured Protein Substances in Nigeria
Price for Protein; Concentrates and Textured Protein Substances in Nigeria (CIF) - 2022
The average import price for protein; concentrates and textured protein substanceses stood at $2,204 per ton in 2022, growing by 75% against the previous year. Overall, the import price, however, continues to indicate a pronounced descent. The import price peaked at $3,822 per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($7,544 per ton), while the price for Argentina ($1,116 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+19.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Protein; Concentrates and Textured Protein Substances in Nigeria (FOB) - 2022
The average export price for protein; concentrates and textured protein substanceses stood at $783 per ton in 2022, declining by -10.3% against the previous year. Overall, the export price showed a dramatic curtailment. The pace of growth appeared the most rapid in 2020 an increase of 89%. Over the period under review, the average export prices hit record highs at $6,103 per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($860 per ton), while the average price for exports to the United States stood at $781 per ton.
From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+59.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Protein; Concentrates and Textured Protein Substances in Nigeria
In 2022, imports of protein; concentrates and textured protein substanceses into Nigeria soared to 1.9K tons, with an increase of 59% on the year before. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 118%. As a result, imports attained the peak of 4.2K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of protein; concentrates and textured protein substanceses soared to $4.2M in 2022. In general, imports saw resilient growth. The growth pace was the most rapid in 2020 with an increase of 180%. As a result, imports reached the peak of $7.7M. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Protein; Concentrates and Textured Protein Substances in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 168 | 3,108 | 19.1 | 1,507 | 107.8% |
| Argentina | 344 | 1,353 | 1,056 | 1,051 | 45.1% |
| Italy | N/A | N/A | N/A | 546 | 0% |
| India | 384 | 262 | 231 | 412 | 2.4% |
| China | 237 | 179 | 17.3 | 332 | 11.9% |
| France | 585 | 364 | 13.9 | 77.9 | -48.9% |
| Belgium | N/A | 1,687 | N/A | 38.4 | -84.9% |
| United Kingdom | 469 | 14.1 | 0.8 | 14.6 | -68.5% |
| Brazil | 184 | 70.4 | N/A | N/A | -61.7% |
| Others | 402 | 710 | 162 | 190 | -22.1% |
| Total | 2,772 | 7,748 | 1,501 | 4,168 | 14.6% |
Top Suppliers of Protein; Concentrates and Textured Protein Substances to Nigeria in 2022:
- Argentina (941.9 tons)
- Malaysia (408.7 tons)
- China (262.8 tons)
- India (105.5 tons)
- Italy (72.3 tons)
- France (28.5 tons)
- Belgium (11.6 tons)
- United Kingdom (1.0 tons)
Exports of Protein; Concentrates and Textured Protein Substances in Nigeria
After three years of growth, shipments abroad of protein; concentrates and textured protein substanceses decreased by -93.3% to 74 tons in 2022. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 1,031% against the previous year.
In value terms, exports of protein; concentrates and textured protein substanceses fell rapidly to $58K in 2022. In general, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 2,037% against the previous year.
| Export of Protein; Concentrates and Textured Protein Substances in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 5.2 | 120 | 574 | 55.4 | 120.0% |
| Netherlands | N/A | N/A | 3.3 | 2.3 | -30.3% |
| Australia | N/A | N/A | 2.7 | N/A | 0% |
| United Kingdom | N/A | 226 | 261 | N/A | 15.5% |
| United Arab Emirates | N/A | N/A | 50.1 | N/A | 0% |
| Canada | 11.3 | N/A | 24.1 | N/A | 46.0% |
| Ghana | N/A | N/A | 10.1 | N/A | 0% |
| Others | N/A | 7.2 | 33.4 | N/A | 363.9% |
| Total | 16.6 | 354 | 959 | 57.7 | 51.5% |
Top Export Markets for Protein; Concentrates and Textured Protein Substances from Nigeria in 2022:
- United States (71.0 tons)
- Netherlands (2.6 tons)
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