Price for Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 in Nigeria - 2022

Contents:

1. Price for Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 in Nigeria (CIF) - 2022
2. Price for Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 in Nigeria (FOB) - 2022
3. Imports of Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 in Nigeria
4. Exports of Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 in Nigeria

Price for Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 in Nigeria (CIF) - 2022

The average import price for flour and meal; of the dried leguminous vegetables of heading no. 0713 stood at $1,189 per ton in 2022, with an increase of 42% against the previous year. Overall, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for flour and meal; of the dried leguminous vegetables of heading no. 0713 increased by +69.0% against 2020 indices. The import price peaked at $1,485 per ton in 2014; however, from 2015 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 the UK ($2,883 per ton), while the price for China ($641 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+10.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 in Nigeria (FOB) - 2022

The average export price for flour and meal; of the dried leguminous vegetables of heading no. 0713 stood at $916 per ton in 2022, with an increase of 123% against the previous year. Over the period under review, the export price, however, saw a mild setback. Over the period under review, the average export prices reached the peak figure at $1,401 per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($13,085 per ton), while the average price for exports to the United States ($233 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 Malaysia (+8.5%), while the prices for the other major destinations experienced a decline.

Imports of Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 in Nigeria

In 2022, the amount of flour and meal; of the dried leguminous vegetables of heading no. 0713 imported into Nigeria soared to 2.4K tons, growing by 265% compared with 2021 figures. Over the period under review, imports saw a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of flour and meal; of the dried leguminous vegetables of heading no. 0713 skyrocketed to $2.9M in 2022. Overall, imports recorded a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 to Nigeria in 2022:

1. India (1066.0 tons)
2. China (993.5 tons)
3. United States (350.1 tons)

Exports of Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 in Nigeria

For the fourth year in a row, Nigeria recorded growth in shipments abroad of flour and meal; of the dried leguminous vegetables of heading no. 0713, which increased by 420% to 637 tons in 2022. Over the period under review, exports posted a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of flour and meal; of the dried leguminous vegetables of heading no. 0713 surged to $584K in 2022. Overall, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Flour and Meal; of the Dried Leguminous Vegetables of Heading No. 0713 from Nigeria in 2022:

1. United States (458.1 tons)
2. Russia (48.5 tons)
3. United Kingdom (42.5 tons)
4. Canada (30.2 tons)
5. Malaysia (25.0 tons)
6. Ireland (20.5 tons)
7. Ghana (12.5 tons)

Source: IndexBox Market Intelligence Platform