Sheep; Live Price in Nigeria - 2022

Contents:

1. Sheep; Live Price in Nigeria (CIF) - 2022
2. Sheep; Live Price in Nigeria (FOB) - 2022
3. Sheep; Live Imports in Nigeria
4. Sheep; Live Exports in Nigeria

Sheep; Live Price in Nigeria (CIF) - 2022

The average sheep; live import price stood at $125 per unit in 2022, growing by 152% against the previous year. Over the period under review, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +10.4% per year.

Sheep; Live Price in Nigeria (FOB) - 2022

The average sheep; live export price stood at $107 per unit in 2022, flattening at the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2019 an increase of 8.3%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Niger ($112 per unit), while the average price for exports to Benin totaled $106 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Benin (+10.2%).

Sheep; Live Imports in Nigeria

For the third consecutive year, Nigeria recorded decline in purchases abroad of sheep; live, which decreased by -91.7% to 194 units in 2022. Overall, imports continue to indicate a sharp decline. The smallest decline of -44.7% was in 2020. Over the period under review, imports hit record highs at 19K units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, sheep; live imports shrank sharply to $24K in 2022. In general, imports recorded a precipitous slump. The smallest decline of -45.6% was in 2020. Over the period under review, imports hit record highs at $1.9M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Top Suppliers of Sheep; Live to Nigeria in 2022:

1. Ethiopia (194.0 units)

Sheep; Live Exports in Nigeria

In 2022, approx. 882 units of sheep; live were exported from Nigeria; almost unchanged from 2021. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 0.1%. Over the period under review, the exports attained the peak figure at 883 units in 2021, and then fell slightly in the following year.

In value terms, sheep; live exports shrank to $94K in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 0.1% against the previous year. As a result, the exports reached the peak of $94K, leveling off in the following year.

Top Export Markets for Sheep; Live from Nigeria in 2022:

1. Benin (804.0 units)
2. Niger (78.0 units)

Source: IndexBox Market Intelligence Platform