Nigeria: Primary Fiber Crops Market 2024

Primary Fiber Crops Market Size in Nigeria

In 2022, after three years of decline, there was significant growth in the Nigerien primary fiber crops market, when its value increased by X% to $X. In general, consumption, however, showed a slight descent. Primary fiber crops consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Primary Fiber Crops Production in Nigeria

In value terms, primary fiber crops production reached $X in 2022 estimated in export price. In general, production, however, continues to indicate a deep contraction. The pace of growth was the most pronounced in 2017 with an increase of X%. Primary fiber crops production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Primary Fiber Crops Exports

Exports from Nigeria

In 2022, after five years of growth, there was significant decline in overseas shipments of fiber crops (primary), when their volume decreased by X% to X tons. Over the period under review, exports faced a abrupt descent. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, primary fiber crops exports shrank remarkably to $X in 2022. Overall, exports saw a precipitous decrease. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

India (X tons), Pakistan (X tons) and Bangladesh (X tons) were the main destinations of primary fiber crops exports from Nigeria, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Pakistan ($X), India ($X) and Bangladesh ($X) constituted the largest markets for primary fiber crops exported from Nigeria worldwide, with a combined X% share of total exports. Tunisia and Vietnam lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Tunisia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average primary fiber crops export price stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price, however, showed a abrupt slump. The growth pace was the most rapid in 2017 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while the average price for exports to Tunisia ($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 Tunisia (X%), while the prices for the other major destinations experienced a decline.

Primary Fiber Crops Imports

Imports into Nigeria

In 2022, purchases abroad of fiber crops (primary) decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, imports showed a noticeable descent. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, primary fiber crops imports reduced remarkably to $X in 2022. Overall, imports recorded a slight shrinkage. The pace of growth appeared the most rapid in 2020 when imports increased by X%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Kenya (X tons) constituted the largest supplier of primary fiber crops to Nigeria, accounting for a X% share of total imports. Moreover, primary fiber crops imports from Kenya exceeded the figures recorded by the second-largest supplier, Mozambique (X tons), threefold. The third position in this ranking was taken by Tanzania (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Kenya totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mozambique (X% per year) and Tanzania (X% per year).

In value terms, Kenya ($X) constituted the largest supplier of fiber crops (primary) to Nigeria, comprising X% of total imports. The second position in the ranking was taken by Mozambique ($X), with a X% share of total imports. It was followed by Tanzania, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Kenya totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mozambique (X% per year) and Tanzania (X% per year).

Import Prices by Country

In 2022, the average primary fiber crops import price amounted to $X per ton, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Kenya ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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