Nigeria: Vegetable Product Market 2024

Vegetable Product Market Size in Nigeria

The Nigerien vegetable product market contracted to $X in 2022, almost unchanged from the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Vegetable Product Production in Nigeria

In value terms, vegetable product production shrank slightly to $X in 2022 estimated in export price. In general, production showed a mild downturn. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

The average yield of vegetable products in Nigeria contracted slightly to X tons per ha in 2022, approximately mirroring the year before. In general, the yield continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, the average vegetable product yield hit record highs at X tons per ha in 2012; however, from 2013 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the vegetable product harvested area in Nigeria reduced modestly to X ha, approximately mirroring 2021 figures. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The vegetable product harvested area peaked at X ha in 2018; however, from 2019 to 2022, the harvested area stood at a somewhat lower figure.

Vegetable Product Exports

Exports from Nigeria

In 2022, overseas shipments of vegetable products decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, posted a prominent increase. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then reduced markedly in the following year.

In value terms, vegetable product exports surged to $X in 2022. Over the period under review, exports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2017 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China (X tons), Germany (X tons) and Poland (X tons) were the main destinations of vegetable product exports from Nigeria, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vegetable product exported from Nigeria were China ($X), Germany ($X) and Poland ($X), with a combined X% share of total exports.

China, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average vegetable product export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price, however, recorded a perceptible slump. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were China ($X per ton) and Germany ($X per ton), while the average price for exports to Poland ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced a decline.

Vegetable Product Imports

Imports into Nigeria

In 2022, purchases abroad of vegetable products decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, posted significant growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, vegetable product imports dropped to $X in 2022. In general, imports, however, continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Algeria (X tons) constituted the largest supplier of vegetable product to Nigeria, accounting for a X% share of total imports. Moreover, vegetable product imports from Algeria exceeded the figures recorded by the second-largest supplier, Niger (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume from Algeria stood at X%.

In value terms, Algeria ($X) constituted the largest supplier of vegetable products to Nigeria, comprising X% of total imports. The second position in the ranking was held by Niger ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Algeria stood at X%.

Import Prices by Country

In 2022, the average vegetable product import price amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price recorded a pronounced setback. The most prominent rate of growth was recorded in 2014 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Algeria ($X per ton), while the price for Niger totaled $X per ton.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :