Spices; Nutmeg Price in Nigeria - 2022
Contents:
Spices; Nutmeg Price in Nigeria (CIF) - 2022
In 2022, the average spices; nutmeg import price amounted to $603 per ton, picking up by 7.9% against the previous year. Over the period under review, the import price, however, showed a deep contraction. The most prominent rate of growth was recorded in 2014 an increase of 22% against the previous year. Over the period under review, average import prices hit record highs at $2,855 per ton in 2012; however, from 2013 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 China ($949 per ton), while the price for Indonesia ($204 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-8.5%), while the prices for the other major suppliers experienced a decline.
Spices; Nutmeg Imports in Nigeria
In 2022, after three years of growth, there was significant decline in purchases abroad of spices; nutmeg, when their volume decreased by -7.4% to 239 tons. The total import volume increased at an average annual rate of +9.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 19%. As a result, imports attained the peak of 259 tons, and then shrank in the following year.
In value terms, spices; nutmeg imports dropped slightly to $144K in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 0.3%.
| Import of Spices; Nutmeg in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 79.6 | 81.2 | 82.8 | 83.8 | 1.7% |
| Indonesia | 19.3 | 19.3 | 19.3 | 19.1 | -0.3% |
| China | 12.9 | 12.8 | 12.7 | 12.4 | -1.3% |
| Others | 31.9 | 30.8 | 29.9 | 29.0 | -3.1% |
| Total | 144 | 144 | 145 | 144 | 0.0% |
Top Suppliers of Spices; Nutmeg to Nigeria in 2022:
- India (129.2 tons)
- Indonesia (94.0 tons)
- China (13.1 tons)
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This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in Nigeria.
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This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
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This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in Nigeria.
4153
This report provides an in-depth analysis of the global market for nutmeg, mace and cardamom.
3899
In 2016, the nutmeg, mace and cardamom market peaked at X tons. Over the period from 2007 to 2016, consumption expanded with an annual average rate of growth of +X%. Following a slight decline in consumption from 2009-2010, the nutmeg, mace and
8592
In 2015, the countries with the highest levels of production in 2015 were Guatemala (X thousand tons), Indonesia (X thousand tons), India (X thousand tons), together accounting for X% of total output.
4027
Guatemala continued its dominance in the global trade of nutmeg, mace and cardamom. In 2014, Guatemala exported X thousand tons of nutmeg, mace and cardamoms totaling X USD, X% over the previous year. Its primary trading partner was Saudi Arabia,
3899
In 2016, the nutmeg, mace and cardamom market peaked at X tons. Over the period from 2007 to 2016, consumption expanded with an annual average rate of growth of +X%. Following a slight decline in consumption from 2009-2010, the nutmeg, mace and
8592
In 2015, the countries with the highest levels of production in 2015 were Guatemala (X thousand tons), Indonesia (X thousand tons), India (X thousand tons), together accounting for X% of total output.
4027
Guatemala continued its dominance in the global trade of nutmeg, mace and cardamom. In 2014, Guatemala exported X thousand tons of nutmeg, mace and cardamoms totaling X USD, X% over the previous year. Its primary trading partner was Saudi Arabia,
