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Nigeria - Millet - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Millet Market 2024
Millet Market Size in Nigeria
The Nigerien millet market amounted to $X in 2022, approximately equating the previous year. Over the period under review, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Millet consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.
Millet Production in Nigeria
In value terms, millet production totaled $X in 2022 estimated in export price. In general, the total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.
The average yield of millet in Nigeria shrank to X kg per ha in 2022, leveling off at the previous year. Overall, the yield showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, the yield attained the peak level of X tons per ha. From 2015 to 2022, the growth of the average millet yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2022, the harvested area of millet in Nigeria amounted to X ha, approximately equating the previous year. The harvested area increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of X%. The millet harvested area peaked in 2022 and is likely to see gradual growth in years to come.
Millet Exports
Exports from Nigeria
In 2022, approx. X tons of millet were exported from Nigeria; rising by X% against 2021 figures. Overall, exports enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.
In value terms, millet exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate a pronounced downturn. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.
Exports by Country
Niger (X tons) was the main destination for millet exports from Nigeria, accounting for a approx. X% share of total exports.
From 2012 to 2022, the average annual growth rate of volume to Niger totaled X%.
In value terms, Niger ($X) also remains the key foreign market for millet exports from Nigeria.
From 2012 to 2022, the average annual rate of growth in terms of value to Niger stood at X%.
Export Prices by Country
The average millet export price stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the export price continues to indicate a abrupt setback. The growth pace was the most rapid in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Niger.
From 2012 to 2022, the rate of growth in terms of prices for Niger amounted to X% per year.
Millet Imports
Imports into Nigeria
In 2022, approx. X tons of millet were imported into Nigeria; shrinking by X% on 2021. In general, imports recorded a significant decline. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.
In value terms, millet imports dropped notably to $X in 2022. Over the period under review, imports saw a abrupt descent. The pace of growth was the most pronounced in 2020 when imports increased by X%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.
Imports by Country
In 2022, China (X tons) was the main supplier of millet to Nigeria, with a approx. X% share of total imports.
From 2012 to 2022, the average annual growth rate of volume from China amounted to X%.
In value terms, China ($X) constituted the largest supplier of millet to Nigeria.
From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%.
Import Prices by Country
In 2022, the average millet import price amounted to $X per ton, picking up by X% against the previous year. Overall, the import price recorded a buoyant increase. 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 China.
From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the millet 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 79 - Millet
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
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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
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