Nigeria: Sunflower Seed Market 2024

Sunflower Seed Market Size in Nigeria

The Nigerien sunflower seed market expanded significantly to $X in 2022, surging by 7% against the previous year. In general, consumption, however, continues to indicate a mild decline. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Sunflower Seed Production in Nigeria

In value terms, sunflower seed production rose sharply to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 38%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

In 2022, the average yield of sunflower seed in Nigeria was estimated at less than X kg per ha, remaining relatively unchanged against the previous year. 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.

The sunflower seed harvested area in Nigeria totaled less than X ha in 2022, approximately reflecting 2021 figures. Over the period under review, the harvested area showed a relatively flat trend pattern.

Sunflower Seed Exports

Exports from Nigeria

In 2022, exports of sunflower seed from Nigeria fell to X tons, which is down by -5.1% on the previous year. Over the period under review, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 1,157% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, sunflower seed exports declined slightly to $X in 2022. In general, exports, however, saw significant growth. The growth pace was the most rapid in 2018 when exports increased by 1,136%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for sunflower seed exports from Nigeria, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at +51.0%.

In value terms, Germany ($X) emerged as the key foreign market for sunflower seed exports from Nigeria.

From 2012 to 2022, the average annual growth rate of value to Germany stood at +50.4%.

Export Prices by Country

The average sunflower seed export price stood at $X per ton in 2022, approximately equating the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 129% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +491.1% per year.

Sunflower Seed Imports

Imports into Nigeria

In 2022, the amount of sunflower seed imported into Nigeria soared to X tons, surging by 83% compared with 2021 figures. In general, imports saw significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 603%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, sunflower seed imports skyrocketed to $X in 2022. Overall, imports posted a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 404%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, South Africa (X tons) constituted the largest sunflower seed supplier to Nigeria, with a 47% share of total imports. Moreover, sunflower seed imports from South Africa exceeded the figures recorded by the second-largest supplier, Lebanon (X kg), threefold. Turkey (X kg) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from South Africa totaled +25.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Lebanon (+58.1% per year) and Turkey (+89.3% per year).

In value terms, Turkey ($X), Lebanon ($X) and India ($X) constituted the largest sunflower seed suppliers to Nigeria, together comprising 65% of total imports.

Lebanon, with a CAGR of +96.0%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average sunflower seed import price amounted to $X per ton, dropping by -18.4% against the previous year. Overall, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunflower seed import price increased by +63.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 101%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 Turkey ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lebanon (+24.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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