Price for Cereals; Grain Sorghum, Other than Seed in Nigeria - 2023
Contents:
- Price for Cereals; Grain Sorghum, Other than Seed in Nigeria (FOB) - 2022
- Price for Cereals; Grain Sorghum, Other than Seed in Nigeria (CIF) - 2022
- Exports of Cereals; Grain Sorghum, Other than Seed in Nigeria
- Imports of Cereals; Grain Sorghum, Other than Seed in Nigeria
Price for Cereals; Grain Sorghum, Other than Seed in Nigeria (FOB) - 2022
The average export price for cereals; grain sorghum, other than seeds stood at $921 per ton in 2022, which is down by -2.9% against the previous year. Over the period under review, the export price saw a abrupt decrease. The pace of growth appeared the most rapid in 2018 when the average export price increased by 62% against the previous year. The export price peaked at $1,908 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
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 Australia ($1,151 per ton), while the average price for exports to China amounted to $487 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (-9.6%).
Price for Cereals; Grain Sorghum, Other than Seed in Nigeria (CIF) - 2022
The average import price for cereals; grain sorghum, other than seeds stood at $91 per ton in 2022, reducing by -89.4% against the previous year. Over the period under review, the import price saw a slight slump. The pace of growth was the most pronounced in 2021 an increase of 106% against the previous year. As a result, import price reached the peak level of $858 per ton, and then fell significantly in the following year.
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 Colombia ($804 per ton), while the price for China stood at $41 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+66.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Cereals; Grain Sorghum, Other than Seed in Nigeria
In 2022, the amount of cereals; grain sorghum, other than seeds exported from Nigeria skyrocketed to 58 tons, rising by 287% against the previous year's figure. Overall, exports, however, continue to indicate a deep setback.
In value terms, exports of cereals; grain sorghum, other than seeds soared to $54K in 2022. In general, exports, however, saw a abrupt descent.
| Export of Cereals; Grain Sorghum, Other than Seed in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | N/A | N/A | N/A | 43.7 | 0% |
| China | N/A | N/A | N/A | 9.8 | 0% |
| Niger | 71.0 | 115 | 11.3 | N/A | -60.1% |
| Others | 0.2 | 13.1 | 2.9 | N/A | 280.8% |
| Total | 71.2 | 128 | 14.2 | 53.5 | -9.1% |
Top Export Markets for Cereals; Grain Sorghum, Other than Seed from Nigeria in 2022:
- Australia (38.0 tons)
- China (20.1 tons)
Imports of Cereals; Grain Sorghum, Other than Seed in Nigeria
In 2022, after two years of decline, there was significant growth in overseas purchases of cereals; grain sorghum, other than seeds, when their volume increased by 359% to 462 tons. In general, imports, however, saw a significant curtailment.
In value terms, imports of cereals; grain sorghum, other than seeds plummeted to $42K in 2022. Overall, imports, however, saw a sharp reduction.
| Import of Cereals; Grain Sorghum, Other than Seed in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Colombia | 12.1 | 8.4 | 9.5 | 24.4 | 26.3% |
| China | 57.5 | 9.9 | 0.2 | 17.6 | -32.6% |
| United Kingdom | 755 | 71.1 | 42.9 | N/A | -76.2% |
| India | 170 | 89.6 | 33.4 | N/A | -55.7% |
| Others | 50.9 | 1.1 | 0.3 | N/A | -92.3% |
| Total | 1,045 | 180 | 86.3 | 42.0 | -65.7% |
Top Suppliers of Cereals; Grain Sorghum, Other than Seed to Nigeria in 2022:
- China (431.7 tons)
- Colombia (30.3 tons)
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