Price for Fish Meal; Fit for Human Consumption in Nigeria - 2022
Contents:
- Price for Fish Meal; Fit for Human Consumption in Nigeria (CIF) - 2022
- Imports of Fish Meal; Fit for Human Consumption in Nigeria
Price for Fish Meal; Fit for Human Consumption in Nigeria (CIF) - 2022
In 2022, the average import price for fish meal; fit for human consumptia amounted to $3,716 per ton, reducing by -22.8% against the previous year. Overall, the import price, however, enjoyed a measured increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by 58%. Over the period under review, average import prices hit record highs at $6,495 per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($7,681 per ton), while the price for Belgium ($434 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+138.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Fish Meal; Fit for Human Consumption in Nigeria
Imports of fish meal; fit for human consumptia into Nigeria dropped notably to 43 tons in 2022, declining by -98.3% on the previous year. Over the period under review, imports recorded a dramatic descent. The pace of growth appeared the most rapid in 2021 with an increase of 1,815% against the previous year. As a result, imports reached the peak of 2.5K tons, and then declined rapidly in the following year.
In value terms, imports of fish meal; fit for human consumptia fell significantly to $160K in 2022. In general, imports saw a sharp decline. The most prominent rate of growth was recorded in 2021 with an increase of 2,617%. As a result, imports reached the peak of $12M, and then contracted sharply in the following year.
| Import of Fish Meal; Fit for Human Consumption in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 17.5 | 278 | 5,364 | 114 | 86.8% |
| United Kingdom | 532 | 37.1 | 669 | 15.5 | -69.2% |
| Norway | 344 | 20.6 | 469 | 10.1 | -69.2% |
| Argentina | 170 | 31.1 | 196 | 6.1 | -67.0% |
| Belgium | 152 | 32.7 | 300 | 6.0 | -66.0% |
| Iceland | 122 | 16.4 | 226 | 4.8 | -66.0% |
| India | 45.7 | 9.7 | 88.7 | 1.8 | -66.0% |
| Russia | N/A | N/A | 3,885 | N/A | 0% |
| Ireland | N/A | N/A | 441 | N/A | 0% |
| Uruguay | N/A | N/A | 142 | N/A | 0% |
| Others | 62.4 | 12.3 | 121 | 2.3 | -66.7% |
| Total | 1,446 | 438 | 11,902 | 160 | -52.0% |
Top Suppliers of Fish Meal; Fit for Human Consumption to Nigeria in 2022:
- Netherlands (14.8 tons)
- Belgium (13.8 tons)
- Argentina (6.5 tons)
- United Kingdom (2.0 tons)
- Iceland (1.8 tons)
- India (1.8 tons)
- Norway (1.3 tons)
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