Nigeria: Market for Nuts (Prepared Or Preserved) 2025

Market Size for Nuts (Prepared Or Preserved) in Nigeria

In 2021, after two years of growth, there was significant decline in the Nigerien nuts (prepared or preserved) market, when its value decreased by -11.7% to $X. In general, consumption, however, continues to indicate a remarkable increase. Nuts (prepared or preserved) consumption peaked at $X in 2020, and then shrank in the following year.

Production of Nuts (Prepared Or Preserved) in Nigeria

In value terms, nuts (prepared or preserved) production shrank to $X in 2021 estimated in export price. Over the period under review, production, however, posted a buoyant expansion. The pace of growth was the most pronounced in 2017 when the production volume increased by 105%. Nuts (prepared or preserved) production peaked at $X in 2020, and then reduced in the following year.

Exports of Nuts (Prepared Or Preserved)

Exports from Nigeria

In 2021, overseas shipments of nuts (prepared or preserved) increased by 6% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, exports, however, showed a noticeable contraction. The pace of growth appeared the most rapid in 2013 with an increase of 99% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, nuts (prepared or preserved) exports skyrocketed to $X in 2021. Overall, exports, however, saw a pronounced decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 157%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for nuts (prepared or preserved) exports from Nigeria, accounting for a 58% share of total exports. Moreover, nuts (prepared or preserved) exports to the United States exceeded the volume sent to the second major destination, Germany (X tons), twofold. The United Arab Emirates (X tons) ranked third in terms of total exports with a 7.4% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +86.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+253.1% per year) and the United Arab Emirates (-22.3% per year).

In value terms, the United States ($X) remains the key foreign market for nuts (prepared or preserved) exports from Nigeria, comprising 55% of total exports. The second position in the ranking was taken by Germany ($X), with a 16% share of total exports. It was followed by the United Arab Emirates, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +66.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+197.9% per year) and the United Arab Emirates (-23.3% per year).

Export Prices by Country

In 2021, the average nuts (prepared or preserved) export price amounted to $X per ton, rising by 13% against the previous year. In general, export price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, nuts (prepared or preserved) export price increased by +92.1% against 2016 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by 58%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Australia ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+18.6%), while the prices for the other major destinations experienced a decline.

Imports of Nuts (Prepared Or Preserved)

Imports into Nigeria

In 2021, after five years of growth, there was significant decline in supplies from abroad of nuts (prepared or preserved), when their volume decreased by -79.4% to X tons. In general, imports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2018 when imports increased by 851% against the previous year. Imports peaked at X tons in 2020, and then declined rapidly in the following year.

In value terms, nuts (prepared or preserved) imports reduced dramatically to $X in 2021. Over the period under review, imports, however, showed a strong increase. The most prominent rate of growth was recorded in 2018 when imports increased by 261%. Imports peaked at $X in 2020, and then reduced remarkably in the following year.

Imports by Country

In 2021, Denmark (X tons) constituted the largest nuts (prepared or preserved) supplier to Nigeria, with a 77% share of total imports. Moreover, nuts (prepared or preserved) imports from Denmark exceeded the figures recorded by the second-largest supplier, South Africa (X tons), eightfold. Turkey (X tons) ranked third in terms of total imports with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Denmark totaled -6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (-3.8% per year) and Turkey (+564.1% per year).

In value terms, Denmark ($X) constituted the largest supplier of nuts (prepared or preserved) to Nigeria, comprising 79% of total imports. The second position in the ranking was taken by South Africa ($X), with an 11% share of total imports. It was followed by Malaysia, with a 2.5% share.

From 2012 to 2021, the average annual growth rate of value from Denmark amounted to -10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (-4.1% per year) and Malaysia (0.0% per year).

Import Prices by Country

In 2021, the average nuts (prepared or preserved) import price amounted to $X per ton, declining by -11.3% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 79% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was South Africa ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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