Nigeria: Brown Rice Market 2020

Brown Rice Exports

Exports from Nigeria

Brown rice exports from Nigeria stood at X tons in 2018, surging by X% against the previous year. In general, brown rice exports continue to indicate a skyrocketing increase. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Over the period under review, brown rice exports attained their peak figure in 2018 and are expected to retain its growth in the immediate term.

In value terms, brown rice exports totaled $X in 2018. Overall, brown rice exports continue to indicate a skyrocketing increase. The pace of growth appeared the most rapid in 2014 with an increase of X% y-o-y. Over the period under review, brown rice exports attained their peak figure in 2018 and are likely to continue its growth in the near future.

Exports by Country

France (X tons), the UK (X tons) and Canada (X kg) were the main destinations of brown rice exports from Nigeria, together accounting for X% of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main countries of destination, was attained by the UK, while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for brown rice exported from Nigeria were France ($X), the UK ($X) and Canada ($X), with a combined X% share of total exports.

Among the main countries of destination, Canada recorded the highest rates of growth with regard to exports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the average brown rice export price amounted to $X per ton, approximately mirroring the previous year. Over the period under review, the brown rice export price continues to indicate a prominent increase. The growth pace was the most rapid in 2013 when the average export price increased by X% y-o-y. Over the period under review, the average export prices for husked (brown) rice attained their peak figure in 2018 and is expected to retain its growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was France ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Canada, while the prices for the other major destinations experienced more modest paces of growth.

Brown Rice Imports

Imports into Nigeria

In 2018, approx. X kg of husked (brown) rice were imported into Nigeria; dropping by -X% against the previous year. Overall, brown rice imports continue to indicate a dramatic curtailment. The pace of growth was the most pronounced in 2010 with an increase of X% against the previous year. Imports peaked at X tons in 2011; however, from 2012 to 2018, imports failed to regain their momentum.

In value terms, brown rice imports amounted to $X in 2018. Overall, brown rice imports continue to indicate a sharp reduction. The growth pace was the most rapid in 2010 when imports increased by X% year-to-year. In that year, brown rice imports reached their peak of $X. From 2011 to 2018, the growth of brown rice imports failed to regain its momentum.

Imports by Country

In 2018, India (X kg) constituted the largest brown rice supplier to Nigeria, accounting for a X% share of total imports. Moreover, brown rice imports from India exceeded the figures recorded by the second-largest supplier, Brazil (X kg), eightfold.

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

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

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

Import Prices by Country

In 2018, the average brown rice import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price indicated a remarkable expansion 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, brown rice import price increased by +X% against 2011 indices. The pace of growth was the most pronounced in 2009 when the average import price increased by X% year-to-year. Over the period under review, the average import prices for husked (brown) rice attained their maximum in 2018 and is expected to retain its growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2018, the country with the highest price was Vietnam ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Vietnam (+X% per year), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform