Price for Fish; Edible Offal, Fish Heads, Tails and Maws in Nigeria - 2022

Contents:

1. Price for Fish; Edible Offal, Fish Heads, Tails and Maws in Nigeria (CIF) - 2022
2. Imports of Fish; Edible Offal, Fish Heads, Tails and Maws in Nigeria

Price for Fish; Edible Offal, Fish Heads, Tails and Maws in Nigeria (CIF) - 2022

The average import price for fish; edible offal, fish heads, tails and mawses stood at $4,052 per ton in June 2022, rising by 9.4% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.3%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In June 2022, the country with the highest price was the UK ($4,283 per ton), while the price for Norway ($3,816 per ton) was amongst the lowest.

From June 2021 to June 2022, the most notable rate of growth in terms of prices was attained by Iceland (+2.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Imports of Fish; Edible Offal, Fish Heads, Tails and Maws in Nigeria

Imports of fish; edible offal, fish heads, tails and mawses into Nigeria skyrocketed to 30K tons in 2022, growing by 25% on the year before. Overall, total imports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +16.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -4.2% against 2020 indices. The pace of growth was the most pronounced in 2020 when imports increased by 64%. As a result, imports attained the peak of 31K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of fish; edible offal, fish heads, tails and mawses soared to $110M in 2022. In general, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +23.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +86.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 76% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Top Suppliers of Fish; Edible Offal, Fish Heads, Tails and Maws to Nigeria in 2022:

1. Iceland (21.6K tons)
2. Norway (5.9K tons)
3. United Kingdom (1.8K tons)
4. Faroe Islands (0.2K tons)

Source: IndexBox Market Intelligence Platform