Price for Nuts, Edible; Cashew Nuts, Shelled, Fresh or Dried in Nigeria - 2022
Contents:
- Price for Nuts, Edible; Cashew Nuts, Shelled, Fresh or Dried in Nigeria (FOB) - 2022
- Price for Nuts, Edible; Cashew Nuts, Shelled, Fresh or Dried in Nigeria (CIF) - 2022
- Exports of Nuts, Edible; Cashew Nuts, Shelled, Fresh or Dried in Nigeria
- Imports of Nuts, Edible; Cashew Nuts, Shelled, Fresh or Dried in Nigeria
Price for Nuts, Edible; Cashew Nuts, Shelled, Fresh or Dried in Nigeria (FOB) - 2022
In 2022, the average export price for nuts, edible; cashew nuts, shelled, fresh or drieds amounted to $1,212 per ton, dropping by -17.5% against the previous year. Over the period under review, the export price recorded a abrupt shrinkage. The growth pace was the most rapid in 2015 when the average export price increased by 25%. Over the period under review, the average export prices hit record highs at $9,455 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 external markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($8,039 per ton), while the average price for exports to Vietnam ($739 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 Singapore (+1.6%), while the prices for the other major destinations experienced a decline.
Price for Nuts, Edible; Cashew Nuts, Shelled, Fresh or Dried in Nigeria (CIF) - 2022
The average import price for nuts, edible; cashew nuts, shelled, fresh or drieds stood at $42,000 per ton in 2022, surging by 867% against the previous year. Over the period under review, the import price saw a significant expansion. The growth pace was the most rapid in 2016 an increase of 902%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.
As there is only one major supplying country, the average price level is determined by prices for the UK.
From 2012 to 2022, the rate of growth in terms of prices for Vietnam amounted to +14.3% per year.
Exports of Nuts, Edible; Cashew Nuts, Shelled, Fresh or Dried in Nigeria
Exports of nuts, edible; cashew nuts, shelled, fresh or drieds from Nigeria surged to 41K tons in 2022, rising by 40% against 2021 figures. In general, exports recorded significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 198% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.
In value terms, exports of nuts, edible; cashew nuts, shelled, fresh or drieds skyrocketed to $50M in 2022. Over the period under review, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 136% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are likely to continue growth in the near future.
| Export of Nuts, Edible; Cashew Nuts, Shelled, Fresh or Dried in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 21.8 | 10.9 | 21.2 | 23.1 | 1.9% |
| India | 6.6 | 0.7 | 5.3 | 7.9 | 6.2% |
| United States | 4.3 | 3.7 | 8.6 | 4.9 | 4.5% |
| Others | 3.8 | 3.0 | 7.9 | 13.9 | 54.1% |
| Total | 36.5 | 18.3 | 43.0 | 49.8 | 10.9% |
Top Export Markets for Nuts, Edible; Cashew Nuts, Shelled, Fresh or Dried from Nigeria in 2022:
- Vietnam (31.2K tons)
- India (6.7K tons)
- United States (0.8K tons)
Imports of Nuts, Edible; Cashew Nuts, Shelled, Fresh or Dried in Nigeria
After three years of growth, supplies from abroad of nuts, edible; cashew nuts, shelled, fresh or drieds decreased by 99.9% to 1 kg in 2022. Overall, imports recorded a dramatic curtailment. The growth pace was the most rapid in 2020 when imports increased by 228%.
In value terms, imports of nuts, edible; cashew nuts, shelled, fresh or drieds dropped sharply to $42 in 2022. In general, imports saw a dramatic decrease. The pace of growth appeared the most rapid in 2021 with an increase of 66% against the previous year. As a result, imports attained the peak of $71K, and then reduced rapidly in the following year.
| Import of Nuts, Edible; Cashew Nuts, Shelled, Fresh or Dried in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Morocco | N/A | 18.8 | N/A | N/A | 0% |
| United Kingdom | N/A | N/A | N/A | N/A | 0% |
| India | 23.7 | 22.7 | 7.9 | N/A | -42.3% |
| United Arab Emirates | N/A | 0.5 | 62.7 | N/A | 12440.0% |
| Others | 4.7 | 0.9 | 0.7 | N/A | -61.4% |
| Total | 28.4 | 42.8 | 71.3 | N/A | 58.4% |
Top Suppliers of Nuts, Edible; Cashew Nuts, Shelled, Fresh or Dried to Nigeria in 2022:
- United Kingdom (1.0 kg)
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