Price for Tea, Green; (Not Fermented), in Immediate Packings of A Content Exceeding 3kg in Nigeria - 2023
Contents:
- Price for Tea, Green; (Not Fermented), in Immediate Packings of A Content Exceeding 3kg in Nigeria (CIF) - 2022
- Price for Tea, Green; (Not Fermented), in Immediate Packings of A Content Exceeding 3kg in Nigeria (FOB) - 2022
- Imports of Tea, Green; (Not Fermented), in Immediate Packings of A Content Exceeding 3kg in Nigeria
- Exports of Tea, Green; (Not Fermented), in Immediate Packings of A Content Exceeding 3kg in Nigeria
Price for Tea, Green; (Not Fermented), in Immediate Packings of A Content Exceeding 3kg in Nigeria (CIF) - 2022
In 2022, the average import price for tea, green; (not fermented), in immediate packings of a content exceeding 3kg amounted to $1,626 per ton, surging by 24% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 35% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.
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 the UK ($5,105 per ton), while the price for China ($1,551 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Tea, Green; (Not Fermented), in Immediate Packings of A Content Exceeding 3kg in Nigeria (FOB) - 2022
The average export price for tea, green; (not fermented), in immediate packings of a content exceeding 3kg stood at $750 per ton in 2022, falling by -20.6% against the previous year. Overall, the export price continues to indicate a mild slump. The growth pace was the most rapid in 2016 an increase of 75% against the previous year. The export price peaked at $1,530 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 overseas markets. In 2022, amid the top suppliers, the country with the highest price was Hungary ($6,167 per ton), while the average price for exports to Niger ($187 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+2.4%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Tea, Green; (Not Fermented), in Immediate Packings of A Content Exceeding 3kg in Nigeria
In 2022, overseas purchases of tea, green; (not fermented), in immediate packings of a content exceeding 3kg decreased by -76% to 246 tons, falling for the second consecutive year after two years of growth. In general, imports saw a sharp descent. The most prominent rate of growth was recorded in 2020 when imports increased by 105%. As a result, imports attained the peak of 2.1K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of tea, green; (not fermented), in immediate packings of a content exceeding 3kg dropped rapidly to $400K in 2022. Over the period under review, imports saw a dramatic decrease. The pace of growth appeared the most rapid in 2020 with an increase of 107%. As a result, imports reached the peak of $2.8M. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Tea, Green; (Not Fermented), in Immediate Packings of A Content Exceeding 3kg in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 978 | 2,046 | 1,036 | 377 | -27.2% |
| India | 107 | 34.4 | 1.3 | 2.2 | -72.6% |
| United Kingdom | 210 | 525 | 284 | 0.6 | -85.8% |
| Others | 58.6 | 197 | 18.0 | 20.2 | -29.9% |
| Total | 1,353 | 2,802 | 1,339 | 400 | -33.4% |
Top Suppliers of Tea, Green; (Not Fermented), in Immediate Packings of A Content Exceeding 3kg to Nigeria in 2022:
- China (243.4 tons)
- India (0.6 tons)
- United Kingdom (0.1 tons)
Exports of Tea, Green; (Not Fermented), in Immediate Packings of A Content Exceeding 3kg in Nigeria
In 2022, the amount of tea, green; (not fermented), in immediate packings of a content exceeding 3kg exported from Nigeria amounted to 326 tons, surging by 13% on 2021. Over the period under review, total exports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +14.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -10.0% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 67%. As a result, the exports attained the peak of 362 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of tea, green; (not fermented), in immediate packings of a content exceeding 3kg contracted to $244K in 2022. Overall, exports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year.
| Export of Tea, Green; (Not Fermented), in Immediate Packings of A Content Exceeding 3kg in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ghana | N/A | N/A | 21.9 | 46.8 | 113.7% |
| Hungary | N/A | N/A | N/A | 41.2 | 0% |
| Uruguay | N/A | N/A | N/A | 34.6 | 0% |
| Pakistan | N/A | N/A | 74.7 | 26.9 | -64.0% |
| Niger | 0.2 | 1.3 | 10.0 | 8.6 | 250.3% |
| Benin | N/A | 1.0 | 29.7 | 4.8 | 119.1% |
| Cameroon | 0.6 | 2.3 | 7.5 | N/A | 253.6% |
| China | 35.2 | 184 | N/A | N/A | 422.7% |
| Togo | 257 | N/A | N/A | N/A | 0% |
| Others | 39.0 | 26.8 | 130 | 81.3 | 27.7% |
| Total | 332 | 215 | 273 | 244 | -9.8% |
Top Export Markets for Tea, Green; (Not Fermented), in Immediate Packings of A Content Exceeding 3kg from Nigeria in 2022:
- Ghana (178.4 tons)
- Pakistan (53.9 tons)
- Niger (46.2 tons)
- Benin (17.0 tons)
- Uruguay (13.4 tons)
- Hungary (6.7 tons)
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