Nigeria: Milled Rice Market 2020

Milled Rice Market Size in Nigeria

The revenue of the milled rice market in Nigeria amounted to $X in 2018, rising by X% against the previous year. Overall, milled rice consumption continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2011 when the market value increased by X% y-o-y. Milled rice consumption peaked in 2018 and is likely to see steady growth in the near future.

Milled Rice Production in Nigeria

In value terms, milled rice production stood at $X in 2018 estimated in export prices. Overall, milled rice production continues to indicate an extraordinary expansion. The pace of growth appeared the most rapid in 2011 when production volume increased by X% against the previous year. Over the period under review, milled rice production attained its peak figure level in 2018 and is likely to see steady growth in the near future.

Average yield of milled rice in Nigeria totaled X ton per ha in 2018, increasing by X% against the previous year. The yield figure increased at an average annual rate of +X% over the period from 2007 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Milled rice yield peaked in 2018 and is expected to retain its growth in the near future. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2018, approx. X ha of milled rice were harvested in Nigeria; increasing by X% against the previous year. In general, the milled rice harvested area continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. In that year, the milled rice harvested area reached its peak level of X ha. From 2017 to 2018, the growth of the milled rice harvested area remained at a lower figure.

Milled Rice Exports

Exports from Nigeria

In 2018, approx. X tons of milled rice were exported from Nigeria; dropping by -X% against the previous year. Over the period under review, milled rice exports continue to indicate a sharp descent. The pace of growth appeared the most rapid in 2011 with an increase of X% y-o-y. Exports peaked at X tons in 2009; however, from 2010 to 2018, exports failed to regain their momentum.

In value terms, milled rice exports stood at $X in 2018. Over the period under review, milled rice exports continue to indicate an abrupt shrinkage. The pace of growth was the most pronounced in 2011 when exports increased by X% year-to-year. In that year, milled rice exports attained their peak of $X. From 2012 to 2018, the growth of milled rice exports remained at a somewhat lower figure.

Exports by Country

Benin (X tons) was the main destination for milled rice exports from Nigeria, accounting for a X% share of total exports. Moreover, milled rice exports to Benin exceeded the volume sent to the second major destination, the UK (X tons), more than tenfold.

From 2007 to 2018, the average annual growth rate of volume to Benin amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-X% per year) and Canada (-X% per year).

In value terms, Benin ($X) remains the key foreign market for milled rice exports from Nigeria, comprising X% of total milled rice exports. The second position in the ranking was occupied by Canada ($X), with a X% share of total exports.

From 2007 to 2018, the average annual rate of growth in terms of value to Benin stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+X% per year) and the UK (-X% per year).

Export Prices by Country

In 2018, the average milled rice export price amounted to $X per ton, increasing by X% against the previous year. In general, the milled rice export price continues to indicate resilient growth. The most prominent rate of growth was recorded in 2011 when the average export price increased by X% year-to-year. Over the period under review, the average export prices for milled rice reached 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 Benin ($X per ton), while the average price for exports to the UK ($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 Benin (+X% per year), while the prices for the other major destinations experienced mixed trend patterns.

Milled Rice Imports

Imports into Nigeria

In 2018, the milled rice imports into Nigeria stood at X tons, reducing by -X% against the previous year. Over the period under review, milled rice imports continue to indicate a precipitous deduction. The growth pace was the most rapid in 2011 with an increase of X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2018, imports failed to regain their momentum.

In value terms, milled rice imports stood at $X in 2018. Overall, milled rice imports continue to indicate a precipitous downturn. The pace of growth was the most pronounced in 2011 with an increase of X% against the previous year. Over the period under review, milled rice imports attained their maximum at $X in 2012; however, from 2013 to 2018, imports stood at a somewhat lower figure.

Imports by Country

In 2018, Brazil (X tons) constituted the largest milled rice supplier to Nigeria, accounting for a X% share of total imports. Moreover, milled rice imports from Brazil exceeded the figures recorded by the second-largest supplier, Syrian Arab Republic (X tons), fivefold. The third position in this ranking was occupied by Benin (X tons), with a X% share.

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

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

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

Import Prices by Country

In 2018, the average milled rice import price amounted to $X per ton, going up by X% against the previous year. Over the period under review, the milled rice import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by X% year-to-year. Over the period under review, the average import prices for milled rice attained their maximum at $X per ton in 2010; however, from 2011 to 2018, import prices remained at a lower figure.

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