Nigeria: Olive Market 2025

Olive Market Size in Nigeria

The Nigerien olive market rose notably to $X in 2022, surging by 10% against the previous year. Overall, consumption posted buoyant growth. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Olive Production in Nigeria

In value terms, olive production amounted to $X in 2022 estimated in export price. Over the period under review, production saw a prominent expansion. The pace of growth was the most pronounced in 2020 with an increase of 40%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

The average yield of olives in Nigeria totaled less than X kg per ha in 2022, remaining relatively unchanged against 2021. Overall, the yield showed a relatively flat trend pattern. 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 olives production in Nigeria totaled less than X ha, approximately mirroring 2021. In general, the harvested area showed a relatively flat trend pattern.

Olive Exports

Exports from Nigeria

In 2020, exports of olives from Nigeria amounted to X tons, remaining stable against the year before. In general, exports recorded a tangible increase. The smallest decline of 99.9% was in 2017. Over the period under review, the exports reached the maximum in 2020 and are likely to see steady growth in the near future.

In value terms, olive exports amounted to $X in 2020. Over the period under review, exports recorded a resilient expansion. The smallest decline of 99.9% was in 2019. Over the period under review, the exports reached the peak figure in 2020 and are likely to see gradual growth in the immediate term.

Exports by Country

The UK (X tons) was the main destination for olive exports from Nigeria, with a approx. 100% share of total exports.

From 2016 to 2020, the average annual growth rate of volume to the UK was relatively modest.

From 2016 to 2020, the average annual growth rate of value to the UK was relatively modest.

Export Prices by Country

The average olive export price stood at $X per ton in 2020, approximately mirroring the previous year. In general, the export price enjoyed a buoyant increase. The pace of growth was the most pronounced in 2017 a decrease of 99.9% against the previous year. Over the period under review, the average export prices attained the maximum in 2020 and is likely to see gradual growth in the near future.

As there is only one major export destination, the average price level is determined by prices for the UK.

From 2016 to 2020, the rate of growth in terms of prices for the UK amounted to 0.0% per year.

Olive Imports

Imports into Nigeria

In 2022, approx. X tons of olives were imported into Nigeria; increasing by 26% against the previous year's figure. In general, imports enjoyed significant growth. The pace of growth appeared the most rapid in 2015 when imports increased by 823% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, olive imports dropped markedly to $X in 2022. Overall, imports saw significant growth. The growth pace was the most rapid in 2015 when imports increased by 911% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Spain (X kg) constituted the largest supplier of olive to Nigeria, with a 71% share of total imports. Moreover, olive imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X kg), threefold. The third position in this ranking was held by South Africa (X kg), with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume from Spain amounted to +97.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+10.7% per year) and South Africa (+14.5% per year).

In value terms, the largest olive suppliers to Nigeria were Italy ($X), Spain ($X) and South Africa ($X), with a combined 99% share of total imports.

In terms of the main suppliers, Spain, with a CAGR of +114.2%, recorded the highest rates of growth with regard to 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

The average olive import price stood at $X per ton in 2022, declining by -38.6% against the previous year. In general, the import price, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2019 an increase of 59%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then shrank sharply in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Spain ($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 Netherlands (+70.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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