Nigeria - Pyrethrum - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPyrethrum and Peppermint Price in Nigeria - 2022
Contents:
- Pyrethrum and Peppermint Price in Nigeria (FOB) - 2022
- Pyrethrum and Peppermint Price in Nigeria (CIF) - 2022
- Pyrethrum and Peppermint Exports in Nigeria
- Pyrethrum and Peppermint Imports in Nigeria
Pyrethrum and Peppermint Price in Nigeria (FOB) - 2022
In 2022, the average pyrethrum and peppermint export price amounted to $646 per ton, declining by -21.1% against the previous year. In general, the export price continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2018 an increase of 47% against the previous year. Over the period under review, the average export prices attained the maximum at $4,296 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($2,096 per ton), while the average price for exports to the United States ($232 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 the United Arab Emirates (+1.1%), while the prices for the other major destinations experienced a decline.
Pyrethrum and Peppermint Price in Nigeria (CIF) - 2022
The average pyrethrum and peppermint import price stood at $1,980 per ton in 2022, rising by 28% against the previous year. Over the period under review, the import price enjoyed a prominent expansion. The growth pace was the most rapid in 2014 when the average import price increased by 65%. The import price peaked at $2,608 per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($5,285 per ton), while the price for China ($1,427 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+22.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Pyrethrum and Peppermint Exports in Nigeria
For the fourth consecutive year, Nigeria recorded growth in shipments abroad of pyrethrum and peppermint, which increased by 65% to 18K tons in 2022. Over the period under review, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 81% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.
In value terms, pyrethrum and peppermint exports surged to $12M in 2022. In general, exports recorded a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 96% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the near future.
Export of Pyrethrum and Peppermint in Nigeria (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
India | 0.2 | 0.2 | 2.0 | 3.0 | 146.6% |
United States | 1.2 | 2.7 | 1.8 | 2.9 | 34.2% |
China | 0.2 | 0.1 | 1.8 | 2.8 | 141.0% |
Russia | 0.7 | 0.2 | 1.2 | 1.9 | 39.5% |
Germany | 0.5 | 0.5 | N/A | 0.5 | 0.0% |
United Arab Emirates | 0.2 | 0.2 | 0.3 | 0.4 | 26.0% |
Greece | N/A | N/A | 0.6 | N/A | 0% |
Others | 1.2 | 0.6 | 1.4 | 0.1 | -56.3% |
Total | 4.2 | 4.6 | 9.0 | 11.7 | 40.7% |
Top Export Markets for Pyrethrum and Peppermint from Nigeria in 2022:
- United States (12.7K tons)
- China (2.3K tons)
- India (1.5K tons)
- Russia (0.9K tons)
- United Arab Emirates (0.3K tons)
- Germany (0.3K tons)
Pyrethrum and Peppermint Imports in Nigeria
In 2022, overseas purchases of pyrethrum and peppermint decreased by -29.7% to 403 tons, falling for the second consecutive year after two years of growth. Over the period under review, imports faced a abrupt contraction. The pace of growth appeared the most rapid in 2020 with an increase of 31% against the previous year. As a result, imports attained the peak of 996 tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, pyrethrum and peppermint imports fell to $797K in 2022. In general, imports continue to indicate a slight shrinkage. The growth pace was the most rapid in 2020 with an increase of 63% against the previous year. As a result, imports attained the peak of $1.4M. From 2021 to 2022, the growth of imports failed to regain momentum.
Import of Pyrethrum and Peppermint in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Malaysia | 184 | 360 | 138 | 174 | -1.8% |
United Kingdom | 33.2 | 309 | 153 | 127 | 56.4% |
Singapore | 222 | 30.3 | 143 | 117 | -19.2% |
China | 188 | 137 | 71.0 | 101 | -18.7% |
Morocco | 89.7 | 181 | 104 | 96.1 | 2.3% |
Vietnam | 30.6 | 264 | 81.0 | 95.9 | 46.3% |
United Arab Emirates | 46.7 | 64.4 | 96.1 | 78.7 | 19.0% |
Indonesia | N/A | N/A | 68.4 | N/A | 0% |
Others | 48.8 | 27.9 | 31.6 | 7.0 | -47.7% |
Total | 842 | 1,372 | 885 | 797 | -1.8% |
Top Suppliers of Pyrethrum and Peppermint to Nigeria in 2022:
- Malaysia (95.1 tons)
- China (71.0 tons)
- Singapore (64.2 tons)
- Vietnam (64.1 tons)
- United Kingdom (53.6 tons)
- Morocco (36.1 tons)
- United Arab Emirates (14.9 tons)
This report provides an in-depth analysis of the pyrethrum and peppermint market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 754 - Pyrethrum, dried flowers
- FCL 748 - Peppermint, Spearmint
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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Global pyrethrum consumption amounted to X thousand tons in 2015, coming up by +X% against the previous year level.
Global pyrethrum market stood at X tons in 2015, equaling approx. X thousand USD. From 2007 to 2015, the global pyrethrum market showed overall downward dynamics. A significant drop in 2009
The volume of global imports on the pyrethrum market totaled X tons in 2015. Import dynamics were generally in line with exports, as these trade flows globally complement each other. Following the high trade intensity, imports accounted for about
From 2007 to 2015, the global pyrethrum market showed overall downward dynamics. A significant drop in 2009 (X% Y-o-Y) was followed by a mild recovery. Despite a healthy annual increase over the recovery period from 2010 to 2015, the market failed to
Global production of pyrethrum was estimated at X thousand USD in 2015, which was X thousand USD more than in 2014, and X thousand USD (or X%) less than the peak production level recorded in 2008.
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