Nigeria: Battered Fish Fillet Market 2024

Battered Fish Fillet Market Size in Nigeria

After two years of growth, the Nigerien battered fish fillet market decreased by -11.2% to $X in 2021. Overall, consumption, however, saw a resilient increase. Over the period under review, the market attained the peak level at $X in 2020, and then contracted in the following year.

Battered Fish Fillet Production in Nigeria

In value terms, battered fish fillet production fell to $X in 2021 estimated in export price. Over the period under review, production, however, posted a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of 87%. Over the period under review, production attained the peak level at $X in 2020, and then contracted in the following year.

Battered Fish Fillet Exports

Exports from Nigeria

In 2021, after four years of decline, there was significant growth in overseas shipments of fish fillets in batter or breadcrumbs, when their volume increased by 51% to X kg. Over the period under review, exports, however, saw a abrupt setback. The pace of growth appeared the most rapid in 2015 with an increase of 202% against the previous year. The exports peaked at X kg in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, battered fish fillet exports soared to $X in 2021. In general, exports, however, continue to indicate a perceptible setback. The pace of growth was the most pronounced in 2015 with an increase of 372% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Australia (X kg) was the main destination for battered fish fillet exports from Nigeria, accounting for a 80% share of total exports. Moreover, battered fish fillet exports to Australia exceeded the volume sent to the second major destination, South Africa (X kg), sevenfold.

From 2012 to 2021, the average annual growth rate of volume to Australia totaled -7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (-27.2% per year) and Malawi (-9.3% per year).

In value terms, Australia ($X) emerged as the key foreign market for fish fillets in batter or breadcrumbs exports from Nigeria, comprising 92% of total exports. The second position in the ranking was held by Malawi ($X), with a 1.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Australia stood at -25.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malawi (-13.7% per year) and South Africa (-39.3% per year).

Export Prices by Country

In 2021, the average battered fish fillet export price amounted to $X per ton, increasing by 38% against the previous year. Overall, export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, battered fish fillet export price increased by +80.8% against 2016 indices. The growth pace was the most rapid in 2015 an increase of 56% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to South Africa ($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 Malawi (-4.3%), while the prices for the other major destinations experienced a decline.

Battered Fish Fillet Imports

Imports into Nigeria

In 2021, purchases abroad of fish fillets in batter or breadcrumbs decreased by -6.9% to X tons, falling for the second consecutive year after three years of growth. In general, imports, however, recorded significant growth. The pace of growth was the most pronounced in 2017 when imports increased by 1,199%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, battered fish fillet imports reduced to $X in 2021. Over the period under review, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2017 when imports increased by 909%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of battered fish fillet to Nigeria, accounting for a 82% share of total imports. Moreover, battered fish fillet imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +45.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+66.2% per year) and Vietnam (-16.9% per year).

In value terms, China ($X) constituted the largest supplier of fish fillets in batter or breadcrumbs to Nigeria, comprising 90% of total imports. The second position in the ranking was taken by Thailand ($X), with a 4.1% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China totaled +56.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+49.4% per year) and Vietnam (-10.1% per year).

Import Prices by Country

In 2021, the average battered fish fillet import price amounted to $X per ton, approximately equating the previous year. Over the period under review, the import price, however, posted a tangible expansion. The growth pace was the most rapid in 2014 an increase of 63% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+8.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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