Nigeria - Sesame Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSesame Oil Price in Nigeria - 2022
Contents:
- Sesame Oil Price in Nigeria (FOB) - 2022
- Sesame Oil Price in Nigeria (CIF) - 2022
- Sesame Oil Exports in Nigeria
- Sesame Oil Imports in Nigeria
Sesame Oil Price in Nigeria (FOB) - 2022
In 2022, the average sesame oil export price amounted to $1,002 per ton, with a decrease of -10.5% against the previous year. In general, the export price saw a pronounced shrinkage. The pace of growth was the most pronounced in 2013 an increase of 233% against the previous year. The export price peaked at $5,011 per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($1,022 per ton), while the average price for exports to Japan stood at $898 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (-3.2%).
Sesame Oil Price in Nigeria (CIF) - 2022
In 2022, the average sesame oil import price amounted to $618 per ton, shrinking by -24.9% against the previous year. In general, the import price continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2019 when the average import price increased by 26% against the previous year. The import price peaked at $1,626 per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.
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 the United Arab Emirates ($1,446 per ton), while the price for Lebanon ($528 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was attained by China (-1.3%), while the prices for the other major suppliers experienced a decline.
Sesame Oil Exports in Nigeria
In 2022, after three years of growth, there was significant decline in shipments abroad of sesame oil, when their volume decreased by -70.1% to 3.6K tons. Overall, exports saw a significant decline. The growth pace was the most rapid in 2020 with an increase of 16% against the previous year.
In value terms, sesame oil exports shrank notably to $3.6M in 2022. In general, exports continue to indicate a dramatic decline. The most prominent rate of growth was recorded in 2020 when exports increased by 21% against the previous year.
| Export of Sesame Oil in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 7.1 | 12.5 | 10.7 | 2.9 | -25.8% |
| Japan | 1.8 | 0.2 | 2.2 | 0.6 | -30.7% |
| Others | 1.6 | N/A | 0.4 | N/A | -50.0% |
| Total | 10.5 | 12.7 | 13.3 | 3.6 | -30.0% |
Top Export Markets for Sesame Oil from Nigeria in 2022:
- China (2.9K tons)
- Japan (0.7K tons)
Sesame Oil Imports in Nigeria
In 2022, the amount of sesame oil imported into Nigeria surged to 289 tons, with an increase of 1,060% against the previous year. In general, imports posted a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, sesame oil imports surged to $179K in 2022. Over the period under review, imports recorded a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Sesame Oil in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lebanon | 22.6 | 90.9 | 10.7 | 138 | 82.8% |
| China | 6.3 | 13.9 | 8.1 | 31.5 | 71.0% |
| United Arab Emirates | 2.2 | 4.8 | 1.7 | 9.6 | 63.4% |
| United Kingdom | N/A | 13.5 | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 31.0 | 123 | 20.5 | 179 | 79.4% |
Top Suppliers of Sesame Oil to Nigeria in 2022:
- Lebanon (260.8 tons)
- China (21.8 tons)
- United Arab Emirates (6.7 tons)
This report provides an in-depth analysis of the sesame oil market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 290 - Oil of Sesame Seed
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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