Price for Fats and Oils and Their Fractions; of Marine Mammals in Nigeria - 2022
Contents:
- Price for Fats and Oils and Their Fractions; of Marine Mammals in Nigeria (CIF) - 2022
- Imports of Fats and Oils and Their Fractions; of Marine Mammals in Nigeria
Price for Fats and Oils and Their Fractions; of Marine Mammals in Nigeria (CIF) - 2022
The average import price for fats and oils and their fractions; of marine mammalses stood at $2,907 per ton in 2022, with an increase of 33% against the previous year. Overall, the import price, however, showed a perceptible curtailment. The growth pace was the most rapid in 2021 an increase of 74%. The import price peaked at $5,700 per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for Germany.
From 2014 to 2022, the rate of growth in terms of prices for Denmark amounted to +33.9% per year.
Imports of Fats and Oils and Their Fractions; of Marine Mammals in Nigeria
In 2022, the amount of fats and oils and their fractions; of marine mammalses imported into Nigeria skyrocketed to 37 tons, with an increase of 102% on 2021. Over the period under review, imports, however, saw a slight reduction.
In value terms, imports of fats and oils and their fractions; of marine mammalses surged to $107K in 2022. Overall, imports saw a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Fats and Oils and Their Fractions; of Marine Mammals in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | N/A | N/A | N/A | 107 | 0% |
| Denmark | 46.1 | 65.5 | 39.7 | N/A | -7.2% |
| Others | 3.7 | N/A | N/A | N/A | 0% |
| Total | 49.8 | 65.5 | 39.7 | 107 | 29.0% |
Top Suppliers of Fats and Oils and Their Fractions; of Marine Mammals to Nigeria in 2022:
- Germany (36.7 tons)
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Over the past decade, global production of fish fat and oil rose from 3.7M tons to 11.3M tons. In value terms, production expanded significantly from $6.5B to $16.7B estimated in export prices.
