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Nigeria - Refined Sunflower-Seed and Safflower Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Market for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified 2024
Market Size for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in Nigeria
The Nigerien market for sunflower-seed or safflower oil, refined, but not chemically modified expanded markedly to $X in 2023, increasing by X% against the previous year. Overall, consumption continues to indicate a remarkable increase. Over the period under review, the market hit record highs at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.
Production of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in Nigeria
In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified rose rapidly to $X in 2023 estimated in export price. In general, production posted a prominent increase. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Production of peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.
Exports of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified
Exports from Nigeria
In 2023, after two years of decline, there was significant growth in shipments abroad of sunflower-seed or safflower oil, refined, but not chemically modified, when their volume increased by X% to X tons. Over the period under review, exports, however, recorded a precipitous curtailment. Over the period under review, the exports of attained the peak figure at X tons in 2016; however, from 2017 to 2023, the exports failed to regain momentum.
In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified soared to $X in 2023. Overall, exports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.
Exports by Country
Ghana (X tons) was the main destination for exports of sunflower-seed or safflower oil, refined, but not chemically modified from Nigeria, with a X% share of total exports. Moreover, exports of sunflower-seed or safflower oil, refined, but not chemically modified to Ghana exceeded the volume sent to the second major destination, South Africa (X kg), sixfold.
From 2012 to 2023, the average annual rate of growth in terms of volume to Ghana totaled X%.
In value terms, Ghana ($X) emerged as the key foreign market for sunflower-seed or safflower oil, refined, but not chemically modified exports from Nigeria, comprising X% of total exports. The second position in the ranking was taken by South Africa ($X), with a X% share of total exports.
From 2012 to 2023, the average annual rate of growth in terms of value to Ghana stood at X%.
Export Prices by Country
The average export price for sunflower-seed or safflower oil, refined, but not chemically modified stood at $X per ton in 2023, growing by X% against the previous year. In general, the export price posted a buoyant increase. The pace of growth was the most pronounced in 2019 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2023, the average export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while the average price for exports to South Africa totaled $X per ton.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Niger (X%), while the prices for the other major destinations experienced a decline.
Imports of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified
Imports into Nigeria
Imports of sunflower-seed or safflower oil, refined, but not chemically modified into Nigeria soared to X tons in 2023, increasing by X% compared with the year before. In general, imports saw a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of X%. Imports peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.
In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified surged to $X in 2023. Over the period under review, imports posted a significant expansion. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, imports of attained the peak figure at $X in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.
Imports by Country
In 2023, China (X tons) was the main sunflower-seed or safflower oil, refined, but not chemically modified supplier to Nigeria, accounting for a X% share of total imports. It was followed by Germany (X tons), with a X% share of total imports.
From 2012 to 2023, the average annual rate of growth in terms of volume from China stood at X%.
In value terms, China ($X) constituted the largest supplier of sunflower-seed or safflower oil, refined, but not chemically modified to Nigeria, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports.
From 2012 to 2023, the average annual growth rate of value from China totaled X%.
Import Prices by Country
In 2023, the average import price for sunflower-seed or safflower oil, refined, but not chemically modified amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price recorded a resilient increase. The most prominent rate of growth was recorded in 2022 when the average import price increased by X%. The import price peaked in 2023 and is expected to retain growth in years to come.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China stood at $X per ton.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%).
Source: IndexBox Platform
This report provides an in-depth analysis of the market for sunflower-seed or safflower oil, refined, but not chemically modified 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:
- Prodcom 10415400 - Refined sunflower-seed and safflower oil and their fractions (excluding chemically modified)
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
- 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 VOLUME AND VALUE
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
- 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
- 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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