Report Update Nov 1, 2024

Nigeria - Brazil Nuts - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Brazil Nut Market 2024

Brazil Nut Market Size in Nigeria

In 2021, the Nigerien brazil nut market decreased by -13.9% to $X, falling for the second year in a row after six years of growth. Overall, consumption recorded a mild downturn. The growth pace was the most rapid in 2019 with an increase of 4%. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Brazil Nut Production in Nigeria

In value terms, brazil nut production shrank slightly to $X in 2021 estimated in export price. Overall, production recorded a mild decline. The most prominent rate of growth was recorded in 2020 with an increase of 6.1%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Brazil Nut Exports

Exports from Nigeria

In 2021, approx. X tons of brazil nuts were exported from Nigeria; jumping by 217% compared with 2020 figures. In general, exports showed resilient growth. The pace of growth was the most pronounced in 2020 when exports increased by 4,494% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, brazil nut exports skyrocketed to $X in 2021. Overall, exports, however, recorded a noticeable shrinkage. The pace of growth was the most pronounced in 2020 when exports increased by 2,045%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons) was the main destination for brazil nut exports from Nigeria, with a 38% share of total exports. Moreover, brazil nut exports to Vietnam exceeded the volume sent to the second major destination, Belgium (X tons), threefold. The third position in this ranking was taken by Russia (X tons), with a 6.2% share.

From 2012 to 2021, the average annual growth rate of volume to Vietnam amounted to +60.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+90.3% per year) and Russia (0.0% per year).

In value terms, Belgium ($X) remains the key foreign market for brazil nut exports from Nigeria, comprising 27% of total exports. The second position in the ranking was taken by Singapore ($X), with an 11% share of total exports. It was followed by Vietnam, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Belgium totaled +20.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+59.4% per year) and Vietnam (+39.4% per year).

Export Prices by Country

The average brazil nut export price stood at $X per ton in 2021, rising by 107% against the previous year. In general, the export price, however, saw a abrupt curtailment. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Belgium ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (-4.1%), while the prices for the other major destinations experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for brazil nuts in the world?

The countries with the highest volumes of brazil nut consumption in 2021 were Bolivia, Brazil and Indonesia, with a combined 71% share of global consumption. Peru, Spain, Afghanistan and Benin lagged somewhat behind, together comprising a further 19%.

What are the largest producers of brazil nuts in the world?

The countries with the highest volumes of brazil nut production in 2021 were Brazil, Bolivia and Indonesia, with a combined 76% share of global production. Peru, Afghanistan, Spain and Benin lagged somewhat behind, together accounting for a further 18%.

This report provides an in-depth analysis of the brazil nut 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 216 - Brazil nuts

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023