Nigeria: Nitrogenous Fertilizer Market 2024

Nitrogenous Fertilizer Market Size in Nigeria

The Nigerien nitrogenous fertilizer market surged to $X in 2022, picking up by X% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Nitrogenous Fertilizer Production in Nigeria

In value terms, nitrogenous fertilizer production expanded sharply to $X in 2022 estimated in export price. Overall, production posted resilient growth. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Nitrogenous Fertilizer Exports

Exports from Nigeria

In 2022, overseas shipments of nitrogenous fertilizers (mineral or chemical) increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, exports showed significant growth. The pace of growth was the most pronounced in 2015 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, nitrogenous fertilizer exports soared to $X in 2022. Over the period under review, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2015 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Brazil (X tons) was the main destination for nitrogenous fertilizer exports from Nigeria, accounting for a X% share of total exports. Moreover, nitrogenous fertilizer exports to Brazil exceeded the volume sent to the second major destination, the United States (X tons), twofold. India (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brazil amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and India (X% per year).

In value terms, the largest markets for nitrogenous fertilizer exported from Nigeria were Brazil ($X), the United States ($X) and India ($X), with a combined X% share of total exports.

India, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average nitrogenous fertilizer export price amounted to $X per ton, picking up by X% against the previous year. Overall, the export price recorded a pronounced increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Poland ($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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Nitrogenous Fertilizer Imports

Imports into Nigeria

In 2022, the amount of nitrogenous fertilizers (mineral or chemical) imported into Nigeria dropped markedly to X tons, reducing by X% against 2021 figures. Overall, imports, however, saw a modest expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, nitrogenous fertilizer imports reduced rapidly to $X in 2022. Over the period under review, imports, however, continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) was the main nitrogenous fertilizer supplier to Nigeria, accounting for a X% share of total imports. It was followed by Egypt (X tons), with a X% share of total imports. The United States (X tons) ranked third in terms of total imports with less than X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (X% per year) and the United States (X% per year).

In value terms, China ($X) constituted the largest supplier of nitrogenous fertilizers (mineral or chemical) to Nigeria, comprising X% of total imports. The second position in the ranking was taken by Egypt ($X), with a X% share of total imports. It was followed by the United States, with less than X% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (X% per year) and the United States (X% per year).

Import Prices by Country

The average nitrogenous fertilizer import price stood at $X per ton in 2022, surging by X% against the previous year. In general, the import price showed a notable expansion. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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