Nigeria - Tea - Market Analysis, Forecast, Size, Trends and Insights
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View PricingTea Price in Nigeria - 2022
Contents:
- Tea Price in Nigeria (CIF) - 2022
- Tea Price in Nigeria (FOB) - 2022
- Tea Imports in Nigeria
- Tea Exports in Nigeria
Tea Price in Nigeria (CIF) - 2022
The average tea import price stood at $1,688 per ton in 2022, declining by -4% against the previous year. Over the period under review, the import price showed a abrupt setback. The most prominent rate of growth was recorded in 2014 when the average import price increased by 34% against the previous year. As a result, import price reached the peak level of $4,340 per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sri Lanka ($4,012 per ton), while the price for Austria ($0.1 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kenya (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Tea Price in Nigeria (FOB) - 2022
In 2022, the average tea export price amounted to $1,065 per ton, shrinking by -21.5% against the previous year. In general, the export price recorded a deep setback. The growth pace was the most rapid in 2015 when the average export price increased by 126%. As a result, the export price attained the peak level of $3,806 per ton. From 2016 to 2022, the average export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Ghana ($2,998 per ton), while the average price for exports to Cameroon ($266 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 (+15.6%), while the prices for the other major destinations experienced mixed trend patterns.
Tea Imports in Nigeria
In 2022, overseas purchases of tea decreased by -23.7% to 7.8K tons, falling for the second year in a row after two years of growth. Overall, imports, however, recorded a resilient expansion. The growth pace was the most rapid in 2020 when imports increased by 168% against the previous year. As a result, imports attained the peak of 18K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, tea imports declined dramatically to $13M in 2022. In general, imports saw a abrupt decline. The pace of growth appeared the most rapid in 2020 with an increase of 123% against the previous year. As a result, imports attained the peak of $36M. From 2021 to 2022, the growth of imports failed to regain momentum.
Import of Tea in Nigeria (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Kenya | 8.6 | 20.7 | 12.4 | 8.2 | -1.6% |
Sri Lanka | 1.8 | 6.3 | 1.5 | 1.6 | -3.9% |
India | 0.7 | 1.2 | 0.2 | 0.8 | 4.6% |
Vietnam | 0.5 | 0.5 | 0.3 | 0.4 | -7.2% |
China | 1.6 | 3.1 | 1.3 | 0.4 | -37.0% |
United Kingdom | 0.3 | 1.0 | 0.6 | 0.3 | 0.0% |
United Arab Emirates | 1.0 | 1.1 | 0.3 | 0.1 | -53.6% |
Austria | N/A | N/A | N/A | N/A | 0% |
Others | 1.6 | 1.8 | 1.2 | 1.3 | -6.7% |
Total | 16.0 | 35.8 | 17.9 | 13.1 | -6.4% |
Top Suppliers of Tea to Nigeria in 2022:
- Kenya (2430.0 tons)
- United Kingdom (2274.4 tons)
- Austria (1440.3 tons)
- Sri Lanka (393.0 tons)
- China (371.3 tons)
- Vietnam (188.7 tons)
- India (116.1 tons)
- United Arab Emirates (49.0 tons)
Tea Exports in Nigeria
In 2022, tea exports from Nigeria stood at 387 tons, increasing by 9.1% compared with the previous year. The total export volume increased at an average annual rate of +10.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 45% against the previous year. As a result, the exports attained the peak of 419 tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, tea exports shrank to $412K in 2022. Over the period under review, exports, however, saw a abrupt shrinkage. The growth pace was the most rapid in 2021 with an increase of 40% against the previous year.
Export of Tea in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 27.0 | 120 | 141 | 115 | 62.1% |
Ghana | 91.9 | 80.6 | 107 | 99.4 | 2.6% |
Benin | 3.4 | 6.4 | 17.7 | 14.8 | 63.3% |
Togo | 207 | 1.4 | 0.4 | 7.3 | -67.2% |
Cameroon | 2.7 | 2.1 | 2.2 | 1.7 | -14.3% |
Others | 287 | 132 | 212 | 173 | -15.5% |
Total | 619 | 343 | 481 | 412 | -12.7% |
Top Export Markets for Tea from Nigeria in 2022:
- China (275.1 tons)
- Benin (47.7 tons)
- Ghana (33.2 tons)
- Cameroon (6.3 tons)
- Togo (2.5 tons)
This report provides an in-depth analysis of the tea 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 667 - Tea
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
- COUNTRIES WITH TOP YIELDS
- 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, HARVESTED AREA AND YIELD
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
- Yield 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
- Area Harvested, 2012–2023
- Yield, 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
This report provides an in-depth analysis of the tea market in Nigeria.
This report provides an in-depth analysis of the global tea market.
This report provides an in-depth analysis of the tea market in Nigeria.
This report provides an in-depth analysis of the global tea market.
Discover the top import markets for tea around the world based on data from the IndexBox market intelligence platform.
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The global tea market revenue amounted to $25.9B in 2018, picking up by 7.7% against the previous year. Overall, the total market indicated strong growth from 2007 to 2018: its value increased at an average annual rate of +4.3% over that period. Global
Global tea consumption amounted to X thousand tons in 2015, growing by +X% against the previous year level.
Global tea imports amounted to X thousand tons in 2015, declining by -X% against the previous year level.
From 2008 to 2015, global exports on the tea market showed mixed dynamics, amounting to X thousand tons in 2015. In value terms, they dropped to X million USD in 2015, which was X million USD less than the year before.
The global tea market showed an upward trend from 2008 to 2013 and reached a peak at X thousand tons. However, in 2014, dynamics downturned. During the next two years, the global tea market decreased to X thousand tons.
The volume of total imports on the global tea market in 2015 stood at X thousand tons. In value terms, imports of tea decreased to X million USD in 2015, which was X million USD (X%) less than the year before.
From 2008 to 2013, global tea market production showed steady growth, reaching its peak level at X thousand tons. It was followed by a slight shrinkage over the next two years to X thousand tons in 2015.
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