Report Update Nov 1, 2024

Nigeria - Millet - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Nigeria: Millet Market 2024

Millet Market Size in Nigeria

The Nigerien millet market declined to $X in 2022, with a decrease of -1.9% against the previous year. In general, consumption, however, saw a prominent expansion. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Millet Production in Nigeria

In value terms, millet production shrank modestly to $X in 2022 estimated in export price. In general, production, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 97% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

In 2022, the average yield of millet in Nigeria shrank slightly to X kg per ha, approximately mirroring the previous year. Overall, the yield showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the yield increased by 91% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2015 to 2022, the growth of the average millet yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of millet were harvested in Nigeria; remaining constant against the previous year's figure. The harvested area increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 14% against the previous year. Over the period under review, the harvested area dedicated to millet production reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Millet Imports

Imports into Nigeria

In 2022, millet imports into Nigeria surged to X tons, picking up by 357% compared with the previous year. Overall, imports posted a significant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 560% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, millet imports soared to $X in 2022. In general, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 632% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, South Africa (X tons) constituted the largest supplier of millet to Nigeria, with a 87% share of total imports. Moreover, millet imports from South Africa exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold. The third position in this ranking was taken by the UK (X tons), with a 4.3% share.

From 2012 to 2022, the average annual growth rate of volume from South Africa stood at +1,199.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-10.6% per year) and the UK (+33.4% per year).

In value terms, South Africa ($X) constituted the largest supplier of millet to Nigeria, comprising 74% of total imports. The second position in the ranking was taken by China ($X), with a 13% share of total imports. It was followed by the UK, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from South Africa stood at +745.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.0% per year) and the UK (+82.1% per year).

Import Prices by Country

In 2022, the average millet import price amounted to $X per ton, with a decrease of -7.1% against the previous year. Over the period under review, the import price, however, recorded strong growth. The pace of growth appeared the most rapid in 2020 an increase of 100%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+36.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for millet in the world?

India constituted the country with the largest volume of millet consumption, comprising approx. 41% of total volume. Moreover, millet consumption in India exceeded the figures recorded by the second-largest consumer, Niger, fourfold. China ranked third in terms of total consumption with a 7.5% share.

What are the largest producers of millet in the world?

India remains the largest millet producing country worldwide, comprising approx. 41% of total volume. Moreover, millet production in India exceeded the figures recorded by the second-largest producer, Niger, fourfold. The third position in this ranking was occupied by China, with a 7.5% share.

What are the leading suppliers of millet to Nigeria?

In value terms, the UK constituted the largest supplier of millet to Nigeria, comprising 90% of total imports. The second position in the ranking was occupied by India, with a 6.8% share of total imports.

What are the leading importers of millet from Nigeria?

In value terms, Niger remains the key foreign market for millet exports from Nigeria.

What is the average export price for millet in Nigeria?

In 2020, the average millet export price amounted to $61 per ton, waning by -4.6% against the previous year.

What is the average import price for millet in Nigeria?

The average millet import price stood at $1,454 per ton in 2020, jumping by 234% against the previous year.

This report provides an in-depth analysis of the millet market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 79 - Millet

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023