Nigeria: Broken Rice Market 2020

Broken Rice Exports

Exports from Nigeria

In 2018, approx. X tons of broken rice were exported from Nigeria; picking up by X% against the previous year. Overall, broken rice exports, however, continue to indicate a deep drop. The pace of growth was the most pronounced in 2009 when exports increased by X% year-to-year. Over the period under review, broken rice exports attained their peak figure at X tons in 2010; however, from 2011 to 2018, exports remained at a lower figure.

In value terms, broken rice exports amounted to $X in 2018. Over the period under review, broken rice exports, however, continue to indicate a drastic shrinkage. The pace of growth appeared the most rapid in 2009 when exports increased by X% against the previous year. Exports peaked at $X in 2010; however, from 2011 to 2018, exports stood at a somewhat lower figure.

Exports by Country

Benin (X tons) was the main destination for broken rice exports from Nigeria, with a approx. X% share of total exports.

From 2007 to 2018, the average annual rate of growth in terms of volume to Benin stood at +X%.

In value terms, Benin ($X) also remains the key foreign market for broken rice exports from Nigeria.

From 2007 to 2018, the average annual rate of growth in terms of value to Benin totaled +X%.

Export Prices by Country

In 2018, the average broken rice export price amounted to $X per ton, falling by -X% against the previous year. In general, the broken rice export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average export price increased by X% year-to-year. In that year, the average export prices for broken rice reached their peak level of $X per ton. From 2017 to 2018, the growth in terms of the average export prices for broken rice failed to regain its momentum.

As there is only one major export destination, the average price level is determined by prices for Benin.

From 2007 to 2018, the rate of growth in terms of prices for Benin amounted to -X% per year.

Broken Rice Imports

Imports into Nigeria

In 2018, the imports of broken rice into Nigeria stood at X tons, waning by -X% against the previous year. Overall, broken rice imports continue to indicate a sharp reduction. The most prominent rate of growth was recorded in 2012 with an increase of X% against the previous year. In that year, broken rice imports attained their peak of X tons. From 2013 to 2018, the growth of broken rice imports failed to regain its momentum.

In value terms, broken rice imports totaled $X in 2018. In general, broken rice imports continue to indicate a dramatic downturn. The most prominent rate of growth was recorded in 2012 when imports increased by X% y-o-y. In that year, broken rice imports attained their peak of $X. From 2013 to 2018, the growth of broken rice imports failed to regain its momentum.

Imports by Country

In 2018, Benin (X tons) constituted the largest supplier of broken rice to Nigeria, accounting for a X% share of total imports. Moreover, broken rice imports from Benin exceeded the figures recorded by the second-largest supplier, Brazil (X tons), eightfold. Thailand (X kg) ranked third in terms of total imports with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of volume from Benin stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-X% per year) and Thailand (-X% per year).

In value terms, Brazil ($X) constituted the largest supplier of broken rice to Nigeria, comprising X% of total broken rice imports. The second position in the ranking was occupied by Benin ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value from Brazil totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Benin (-X% per year) and Thailand (-X% per year).

Import Prices by Country

In 2018, the average broken rice import price amounted to $X per ton, surging by X% against the previous year. Overall, the import price indicated a resilient increase from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, broken rice import price increased by +X% against 2007 indices. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, the average import prices for broken rice reached their maximum in 2018 and is expected to retain its growth in the near future.

Prices varied noticeably by the country of origin; the country with the highest price was Brazil ($X per ton), while the price for Benin ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Brazil, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform