Price for Flours and Meals; of Soya Beans in Nigeria - 2022

Contents:

1. Price for Flours and Meals; of Soya Beans in Nigeria (CIF) - 2022
2. Price for Flours and Meals; of Soya Beans in Nigeria (FOB) - 2022
3. Imports of Flours and Meals; of Soya Beans in Nigeria
4. Exports of Flours and Meals; of Soya Beans in Nigeria

Price for Flours and Meals; of Soya Beans in Nigeria (CIF) - 2022

In 2022, the average import price for flours and meals; of soya beanses amounted to $1,609 per ton, picking up by 39% against the previous year. Over the period under review, the import price saw a resilient expansion. The growth pace was the most rapid in 2013 an increase of 85% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Austria ($1,645 per ton), while the price for the United States ($1,200 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+22.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Flours and Meals; of Soya Beans in Nigeria (FOB) - 2022

The average export price for flours and meals; of soya beanses stood at $523 per ton in 2022, waning by -9.8% against the previous year. In general, the export price continues to indicate a dramatic curtailment. The pace of growth appeared the most rapid in 2018 when the average export price increased by 72% against the previous year. The export price peaked at $17,316 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($540 per ton), while the average price for exports to Vietnam amounted to $499 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+27.9%).

Imports of Flours and Meals; of Soya Beans in Nigeria

In 2022, imports of flours and meals; of soya beanses into Nigeria rose rapidly to 1.2K tons, with an increase of 14% compared with the year before. Overall, imports showed significant growth. The growth pace was the most rapid in 2020 when imports increased by 79% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, imports of flours and meals; of soya beanses soared to $2M in 2022. Over the period under review, imports recorded a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 114% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to see steady growth in the immediate term.

Top Suppliers of Flours and Meals; of Soya Beans to Nigeria in 2022:

1. Austria (951.0 tons)
2. China (293.8 tons)
3. South Africa (2.0 tons)

Exports of Flours and Meals; of Soya Beans in Nigeria

In 2022, exports of flours and meals; of soya beanses from Nigeria skyrocketed to 346 tons, jumping by 2,366% compared with the previous year. Over the period under review, exports saw a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of flours and meals; of soya beanses skyrocketed to $181K in 2022. In general, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Flours and Meals; of Soya Beans from Nigeria in 2022:

1. United Kingdom (200.0 tons)
2. Vietnam (146.2 tons)

Source: IndexBox Market Intelligence Platform