Nigeria: Kola Nut Market 2024

Kola Nut Market Size in Nigeria

The Nigerien kola nut market contracted to $X in 2022, falling by -9.8% against the previous year. The market value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Kola Nut Production in Nigeria

In value terms, kola nut production shrank sharply to $X in 2022 estimated in export price. In general, production, however, continues to indicate a modest increase. The most prominent rate of growth was recorded in 2021 with an increase of 84%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of kola nuts in Nigeria contracted to X kg per ha, remaining relatively unchanged against the previous year. Overall, the yield, however, saw mild growth. The most prominent rate of growth was recorded in 2014 with an increase of 10%. Over the period under review, the average kola nut yield reached the maximum level at X kg per ha in 2021, and then reduced in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of kola nuts production in Nigeria totaled X ha, stabilizing at the year before. The harvested area increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 15% against the previous year. Over the period under review, the harvested area dedicated to kola nut production attained the peak figure at X ha in 2015; however, from 2016 to 2022, the harvested area failed to regain momentum.

Kola Nut Exports

Exports from Nigeria

In 2022, the amount of kola nuts exported from Nigeria dropped modestly to X tons, approximately reflecting the previous year. Over the period under review, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2014 when exports increased by 1,317%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, kola nut exports shrank to $X in 2022. Overall, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 1,350%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Bahrain (X tons), Niger (X tons) and the United Arab Emirates (X tons) were the main destinations of kola nut exports from Nigeria, together comprising 91% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +89.6%), while the other leaders experienced more modest paces of growth.

In value terms, Bahrain ($X) remains the key foreign market for kola nuts exports from Nigeria, comprising 90% of total exports. The second position in the ranking was held by Niger ($X), with a 3.6% share of total exports. It was followed by the United Arab Emirates, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value to Bahrain amounted to +42.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (+25.5% per year) and the United Arab Emirates (+65.3% per year).

Export Prices by Country

The average kola nut export price stood at $X per ton in 2022, waning by -1.6% against the previous year. Over the period under review, the export price showed a pronounced reduction. The pace of growth appeared the most rapid in 2019 an increase of 71% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to Cameroon ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (-7.4%), while the prices for the other major destinations experienced a decline.

Kola Nut Imports

Imports into Nigeria

Kola nut imports into Nigeria skyrocketed to X tons in 2022, rising by 65% on the year before. Over the period under review, imports posted significant growth. The pace of growth appeared the most rapid in 2019 with an increase of 837,519% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, kola nut imports skyrocketed to $X in 2022. In general, imports saw significant growth. The most prominent rate of growth was recorded in 2019 when imports increased by 911,838% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Cote d'Ivoire (X tons) constituted the largest kola nut supplier to Nigeria, accounting for a 68% share of total imports. Moreover, kola nut imports from Cote d'Ivoire exceeded the figures recorded by the second-largest supplier, Ghana (X tons), twofold.

From 2015 to 2022, the average annual growth rate of volume from Cote d'Ivoire amounted to +147.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Ghana (+137.5% per year) and Niger (+212.1% per year).

In value terms, the largest kola nut suppliers to Nigeria were Niger ($X), Cote d'Ivoire ($X) and Ghana ($X), with a combined 99% share of total imports.

In terms of the main suppliers, Niger, with a CAGR of +532.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average kola nut import price amounted to $X per ton, with an increase of 13% against the previous year. Overall, the import price continues to indicate a significant increase. The pace of growth appeared the most rapid in 2017 an increase of 33%. The import price peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Niger ($X per ton), while the price for Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2015 to 2022, the most notable rate of growth in terms of prices was attained by Niger (+102.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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