Price for Seed; Lucerne (Alfalfa) Seed, of A Kind Used for Sowing in Nigeria - 2022

Contents:

  1. Price for Seed; Lucerne (Alfalfa) Seed, of A Kind Used for Sowing in Nigeria (CIF) - 2022
  2. Imports of Seed; Lucerne (Alfalfa) Seed, of A Kind Used for Sowing in Nigeria

Price for Seed; Lucerne (Alfalfa) Seed, of A Kind Used for Sowing in Nigeria (CIF) - 2022

In 2022, the average import price for seed; lucerne (alfalfa) seed, of a kind used for sowings amounted to $7,335 per ton, stabilizing at the previous year. Overall, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for seed; lucerne (alfalfa) seed, of a kind used for sowings decreased by -2.1% against 2019 indices. The growth pace was the most rapid in 2018 an increase of 42% against the previous year. The import price peaked at $7,490 per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for South Africa.

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to +5.7% per year.

Imports of Seed; Lucerne (Alfalfa) Seed, of A Kind Used for Sowing in Nigeria

For the third consecutive year, Nigeria recorded decline in overseas purchases of seed; lucerne (alfalfa) seed, of a kind used for sowings, which decreased by -24.8% to 200 kg in 2022. Over the period under review, imports continue to indicate a abrupt curtailment. The smallest decline of -13.1% was in 2021.

In value terms, imports of seed; lucerne (alfalfa) seed, of a kind used for sowings contracted remarkably to $1.5K in 2022. In general, imports continue to indicate a deep reduction. The smallest decline of -13.7% was in 2021.

Import of Seed; Lucerne (Alfalfa) Seed, of A Kind Used for Sowing in Nigeria (Thousand USD)
COUNTRY2019202020212022CAGR,
2019-2022
South Africa1.32.32.01.54.9%
Others1.3N/AN/AN/A0%
Total2.62.32.01.5-16.8%

Top Suppliers of Seed; Lucerne (Alfalfa) Seed, of A Kind Used for Sowing to Nigeria in 2022:

  1. South Africa (200.0 kg)

Source: IndexBox Market Intelligence Platform

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