Nigeria: Non-Wheat Cereal Pellets Market 2024

Non-Wheat Cereal Pellets Market Size in Nigeria

The Nigerien non-wheat cereal pellets market surged to $X in 2021, picking up by 16% against the previous year. In general, consumption enjoyed strong growth. Non-wheat cereal pellets consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Non-Wheat Cereal Pellets Production in Nigeria

In value terms, non-wheat cereal pellets production skyrocketed to $X in 2021 estimated in export price. In general, production, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2018 when the production volume increased by 82% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Non-Wheat Cereal Pellets Exports

Exports from Nigeria

In 2021, exports of cereal pellets (excluding wheat) from Nigeria surged to X tons, jumping by 56% compared with 2020. In general, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 1,158% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, non-wheat cereal pellets exports surged to $X in 2021. Over the period under review, exports recorded a notable increase. The growth pace was the most rapid in 2019 when exports increased by 624%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Canada (X tons) was the main destination for non-wheat cereal pellets exports from Nigeria, accounting for a 69% share of total exports. Moreover, non-wheat cereal pellets exports to Canada exceeded the volume sent to the second major destination, the UK (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Canada amounted to +38.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+30.6% per year) and South Africa (+25.1% per year).

In value terms, Canada ($X) emerged as the key foreign market for cereal pellets (excluding wheat) exports from Nigeria, comprising 82% of total exports. The second position in the ranking was held by the UK ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada stood at +25.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+35.4% per year) and South Africa (+14.0% per year).

Export Prices by Country

In 2021, the average non-wheat cereal pellets export price amounted to $X per ton, picking up by 60% against the previous year. In general, the export price, however, faced a abrupt decline. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to the UK ($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 UK (+4.1%), while the prices for the other major destinations experienced a decline.

Non-Wheat Cereal Pellets Imports

Imports into Nigeria

In 2021, supplies from abroad of cereal pellets (excluding wheat) increased by 133% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, imports recorded significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 1,288%. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, non-wheat cereal pellets imports soared to $X in 2021. Overall, imports posted a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 1,614% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest non-wheat cereal pellets supplier to Nigeria, accounting for a 77% share of total imports. Moreover, non-wheat cereal pellets imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), more than tenfold. The third position in this ranking was held by Spain (X tons), with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +39.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (0.0% per year) and Spain (0.0% per year).

In value terms, China ($X) constituted the largest supplier of cereal pellets (excluding wheat) to Nigeria, comprising 75% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 6.5% share of total imports. It was followed by Indonesia, with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +64.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (0.0% per year) and Indonesia (+422.4% per year).

Import Prices by Country

The average non-wheat cereal pellets import price stood at $X per ton in 2021, surging by 31% against the previous year. Over the period under review, the import price posted a resilient increase. The pace of growth was the most pronounced in 2019 when the average import price increased by 184% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+44.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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