Starch; Manioc (Cassava) Price in Nigeria - 2022
Contents:
- Starch; Manioc (Cassava) Price in Nigeria (CIF) - 2022
- Starch; Manioc (Cassava) Price in Nigeria (FOB) - 2022
- Starch; Manioc (Cassava) Imports in Nigeria
- Starch; Manioc (Cassava) Exports in Nigeria
Starch; Manioc (Cassava) Price in Nigeria (CIF) - 2022
In 2022, the average starch; manioc (cassava) import price amounted to $444 per ton, with an increase of 4.8% against the previous year. In general, the import price, however, recorded a noticeable contraction. The pace of growth was the most pronounced in 2016 when the average import price increased by 20% against the previous year. The import price peaked at $646 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
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 Brazil ($1,340 per ton), while the price for Vietnam ($140 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+5.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Starch; Manioc (Cassava) Price in Nigeria (FOB) - 2022
The average starch; manioc (cassava) export price stood at $1,557 per ton in 2022, growing by 38% against the previous year. Overall, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, starch; manioc (cassava) export price increased by +118.0% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($2,915 per ton), while the average price for exports to South Africa ($101 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 Netherlands (+22.2%), while the prices for the other major destinations experienced more modest paces of growth.
Starch; Manioc (Cassava) Imports in Nigeria
After three years of growth, overseas purchases of starch; manioc (cassava)s decreased by -7.8% to 4K tons in 2022. The total import volume increased at an average annual rate of +5.8% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 20% against the previous year.
In value terms, starch; manioc (cassava) imports fell modestly to $1.8M in 2022. The total import value increased at an average annual rate of +3.7% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 7.4%. As a result, imports reached the peak of $1.8M, and then declined slightly in the following year.
| Import of Starch; Manioc (Cassava) in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 113 | 495 | 1,041 | 742 | 87.3% |
| Thailand | 735 | 472 | 88.9 | 521 | -10.8% |
| India | 399 | 463 | 285 | 203 | -20.2% |
| Netherlands | 7.1 | 18.4 | 35.9 | 61.8 | 105.7% |
| Vietnam | 55.0 | 80.9 | 90.0 | 56.8 | 1.1% |
| Germany | 13.4 | 36.7 | 45.5 | 32.0 | 33.7% |
| South Africa | 28.2 | 38.6 | 40.0 | 23.5 | -5.9% |
| Portugal | 113 | N/A | N/A | N/A | 0% |
| Others | 121 | 98.2 | 203 | 125 | 1.1% |
| Total | 1,584 | 1,702 | 1,829 | 1,766 | 3.7% |
Top Suppliers of Starch; Manioc (Cassava) to Nigeria in 2022:
- Thailand (1262.3 tons)
- China (958.1 tons)
- India (903.1 tons)
- Vietnam (404.9 tons)
- South Africa (141.3 tons)
- Germany (91.8 tons)
- Netherlands (90.9 tons)
Starch; Manioc (Cassava) Exports in Nigeria
In 2022, overseas shipments of starch; manioc (cassava)s were finally on the rise to reach 147 tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, showed a sharp curtailment.
In value terms, starch; manioc (cassava) exports soared to $229K in 2022. In general, exports, however, saw a precipitous contraction.
| Export of Starch; Manioc (Cassava) in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,051 | 260 | 81.4 | 119 | -51.6% |
| China | 19.5 | 10.0 | 1.0 | 43.6 | 30.8% |
| United Arab Emirates | 28.4 | 24.7 | 12.5 | 27.3 | -1.3% |
| United Kingdom | 4.7 | 4.5 | 4.8 | 5.7 | 6.6% |
| Sweden | 1.0 | 0.9 | 0.9 | 4.3 | 62.6% |
| New Zealand | N/A | N/A | N/A | 4.3 | 0% |
| South Africa | 2.4 | 2.5 | 0.8 | 1.5 | -14.5% |
| Others | 33.2 | 31.5 | 23.5 | 23.8 | -10.5% |
| Total | 1,140 | 334 | 125 | 229 | -41.4% |
Top Export Markets for Starch; Manioc (Cassava) from Nigeria in 2022:
- United States (47.7 tons)
- China (33.9 tons)
- United Arab Emirates (22.9 tons)
- South Africa (14.7 tons)
- New Zealand (6.1 tons)
- United Kingdom (4.9 tons)
- Sweden (4.9 tons)
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