Nigeria: Milled Rice Market 2020

Milled Rice Exports

Exports from Nigeria

In 2018, the exports of semi-milled or wholly milled (bleached) rice from Nigeria stood at X tons, falling by -X% against the previous year. Over the period under review, milled rice exports continue to indicate a dramatic decrease. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. Exports peaked at X tons in 2009; however, from 2010 to 2018, exports remained at a lower figure.

In value terms, milled rice exports stood at $X in 2018. Overall, milled rice exports continue to indicate a deep decrease. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, milled rice exports reached their peak figure at $X in 2007; however, from 2008 to 2018, exports remained at a lower figure.

Exports by Country

Benin (X tons) was the main destination for milled rice exports from Nigeria, with a X% share of total exports. Moreover, milled rice exports to Benin exceeded the volume sent to the second major destination, Cameroon (X tons), threefold. Canada (X tons) ranked third in terms of total exports with a X% share.

From 2007 to 2018, the average annual growth rate of volume to Benin totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cameroon (+X% per year) and Canada (+X% per year).

In value terms, the Netherlands ($X) remains the key foreign market for milled rice exports from Nigeria, comprising X% of total milled rice exports. The second position in the ranking was occupied by Benin ($X), with a X% share of total exports. It was followed by Canada, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value to the Netherlands stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (+X% per year) and Canada (+X% per year).

Export Prices by Country

In 2018, the average milled rice export price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the milled rice export price continues to indicate a resilient expansion. The growth pace was the most rapid in 2018 when the average export price increased by X% y-o-y. In that year, the average export prices for semi-milled or wholly milled (bleached) rice attained their peak level and is likely to continue its growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Ghana ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Benin (+X% per year), while the prices for the other major destinations experienced more modest paces of growth.

Milled Rice Imports

Imports into Nigeria

Milled rice imports into Nigeria totaled X tons in 2018, going down by -X% against the previous year. In general, milled rice imports continue to indicate a dramatic contraction. The growth pace was the most rapid in 2011 with an increase of X% y-o-y. In that year, milled rice imports attained their peak of X tons. From 2012 to 2018, the growth of milled rice imports remained at a somewhat lower figure.

In value terms, milled rice imports totaled $X in 2018. Overall, milled rice imports continue to indicate a sharp curtailment. The pace of growth appeared the most rapid in 2011 when imports increased by X% year-to-year. In that year, milled rice imports attained their peak of $X. From 2012 to 2018, the growth of milled rice imports failed to regain its momentum.

Imports by Country

In 2018, Thailand (X tons) constituted the largest supplier of milled rice to Nigeria, with a X% share of total imports. Moreover, milled rice imports from Thailand exceeded the figures recorded by the second-largest supplier, Syrian Arab Republic (X tons), twofold. Benin (X tons) ranked third in terms of total imports with a X% share.

From 2007 to 2018, the average annual growth rate of volume from Thailand stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Syrian Arab Republic (-X% per year) and Benin (-X% per year).

In value terms, Syrian Arab Republic ($X) constituted the largest supplier of milled rice to Nigeria, comprising X% of total milled rice imports. The second position in the ranking was occupied by Thailand ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value from Syrian Arab Republic totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-X% per year) and China (-X% per year).

Import Prices by Country

The average milled rice import price stood at $X per ton in 2018, picking up by X% against the previous year. Over the period under review, the import price indicated a modest increase from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, milled rice import price increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. In that year, the average import prices for semi-milled or wholly milled (bleached) rice reached their peak level of $X per ton. From 2015 to 2018, the growth in terms of the average import prices for semi-milled or wholly milled (bleached) rice failed to regain its momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2018, the country with the highest price was Syrian Arab Republic ($X per ton), while the price for Benin ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform