Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Nigeria - 2022
Contents:
- Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Nigeria (CIF) - 2022
- Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Nigeria (FOB) - 2022
- Imports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Nigeria
- Exports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Nigeria
Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Nigeria (CIF) - 2022
The average import price for refined cane or beet sugar (with added flavoring or coloring matter) stood at $588 per ton in 2022, declining by -23.4% against the previous year. In general, the import price continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2013 when the average import price increased by 96% against the previous year. As a result, import price attained the peak level of $6,030 per ton. From 2014 to 2022, the average 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 Germany ($6,616 per ton), while the price for Niger amounted to $351 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Nigeria (FOB) - 2022
In 2022, the average export price for refined cane or beet sugar (with added flavoring or coloring matter) amounted to $523 per ton, standing approx. at the previous year. Overall, the export price recorded a abrupt contraction. The pace of growth appeared the most rapid in 2018 an increase of 43%. Over the period under review, the average export prices hit record highs at $3,927 per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Niger.
From 2012 to 2022, the rate of growth in terms of prices for Ghana amounted to -9.7% per year.
Imports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Nigeria
In 2022, approx. 383 tons of refined cane or beet sugar (with added flavoring or coloring matter) were imported into Nigeria; increasing by 81% compared with 2021 figures. Over the period under review, imports recorded a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of refined cane or beet sugar (with added flavoring or coloring matter) surged to $225K in 2022. Overall, imports, however, showed a abrupt setback.
Import of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Niger | N/A | 71.3 | 131 | 129 | 34.5% |
Germany | 177 | 46.6 | 5.4 | 45.2 | -36.6% |
India | N/A | 21.6 | N/A | N/A | 0% |
United Arab Emirates | 10.4 | N/A | N/A | N/A | 0% |
South Africa | N/A | 99.3 | 19.6 | N/A | -80.3% |
Others | 179 | 49.6 | 5.7 | 50.9 | -34.2% |
Total | 367 | 288 | 162 | 225 | -15.0% |
Top Suppliers of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) to Nigeria in 2022:
- Niger (367.9 tons)
- Germany (6.8 tons)
Exports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Nigeria
In 2022, exports of refined cane or beet sugar (with added flavoring or coloring matter) from Nigeria shrank dramatically to 14 tons, reducing by -16.4% on the previous year. In general, exports continue to indicate a dramatic downturn. The growth pace was the most rapid in 2021 with an increase of 61% against the previous year.
In value terms, exports of refined cane or beet sugar (with added flavoring or coloring matter) contracted notably to $7.3K in 2022. Overall, exports showed a sharp decrease. The most prominent rate of growth was recorded in 2021 with an increase of 53% against the previous year.
Export of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Niger | 22.9 | 5.4 | 8.4 | 7.3 | -31.7% |
Others | 2.8 | 0.4 | 0.4 | N/A | -62.2% |
Total | 25.7 | 5.8 | 8.8 | 7.3 | -34.3% |
Top Export Markets for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) from Nigeria in 2022:
- Niger (13.9 tons)
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