Nigeria - Sweet Potato - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSweet Potato Price in Nigeria - 2022
Contents:
- Sweet Potato Price in Nigeria (CIF) - 2022
- Sweet Potato Price in Nigeria (FOB) - 2022
- Sweet Potato Imports in Nigeria
- Sweet Potato Exports in Nigeria
Sweet Potato Price in Nigeria (CIF) - 2022
The average sweet potato import price stood at $758 per ton in 2022, with an increase of 13% against the previous year. Over the period under review, the import price, however, recorded a slight decrease. The growth pace was the most rapid in 2015 when the average import price increased by 24%. The import price peaked at $1,247 per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($747 per ton), while the price for the UK stood at $709 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-1.6%), while the prices for the other major suppliers experienced a decline.
Sweet Potato Price in Nigeria (FOB) - 2022
In 2022, the average sweet potato export price amounted to $1,167 per ton, remaining constant against the previous year. Over the period under review, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sweet potato export price increased by +15.4% against 2019 indices. The most prominent rate of growth was recorded in 2015 an increase of 63%. As a result, the export price reached the peak level of $1,443 per ton. From 2016 to 2022, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($5,055 per ton), while the average price for exports to Niger ($335 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 the UK (+4.4%), while the prices for the other major destinations experienced mixed trend patterns.
Sweet Potato Imports in Nigeria
In 2022, sweet potato imports into Nigeria surged to 205 tons, jumping by 269% against the previous year's figure. Over the period under review, imports, however, showed a abrupt setback.
In value terms, sweet potato imports skyrocketed to $155K in 2022. In general, imports, however, saw a abrupt contraction.
Import of Sweet Potato in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Belgium | 193 | 167 | 29.3 | 118 | -15.1% |
United Kingdom | 27.4 | 33.9 | 6.8 | 31.8 | 5.1% |
Thailand | N/A | 66.3 | N/A | N/A | 0% |
Others | 9.8 | 5.5 | 1.1 | 5.4 | -18.0% |
Total | 231 | 273 | 37.2 | 155 | -12.5% |
Top Suppliers of Sweet Potato to Nigeria in 2022:
- Belgium (157.7 tons)
- United Kingdom (44.9 tons)
Sweet Potato Exports in Nigeria
In 2022, overseas shipments of sweet potatoes increased by 6.8% to 91 tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, showed a deep slump.
In value terms, sweet potato exports totaled $106K in 2022. Over the period under review, exports, however, showed a abrupt decline.
Export of Sweet Potato in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United Kingdom | 17.6 | 1.3 | 9.8 | 32.3 | 22.4% |
Niger | 83.8 | 58.0 | 31.4 | 25.7 | -32.6% |
Czech Republic | N/A | N/A | N/A | 14.2 | 0% |
Others | 26.3 | 54.3 | 58.0 | 34.2 | 9.1% |
Total | 128 | 113 | 99.2 | 106 | -6.1% |
Top Export Markets for Sweet Potato from Nigeria in 2022:
- Niger (76.7 tons)
- United Kingdom (6.4 tons)
- Czech Republic (3.2 tons)
This report provides an in-depth analysis of the sweet potato 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 122 - Sweet potatoes
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
-
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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