Nigeria - Refined Maize (Corn) Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Refined Maize Oil Market 2024
Refined Maize Oil Market Size in Nigeria
The Nigerien refined maize oil market reduced to $X in 2022, with a decrease of X% against the previous year. Overall, the total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Refined maize oil consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.
Refined Maize Oil Production in Nigeria
In value terms, refined maize oil production shrank to $X in 2022 estimated in export price. In general, production, however, recorded tangible growth. The pace of growth was the most pronounced in 2015 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.
Refined Maize Oil Exports
Exports from Nigeria
In 2022, shipments abroad of refined maize (corn) oil increased by X% to X kg, rising for the second year in a row after two years of decline. Over the period under review, exports, however, showed a deep contraction. The pace of growth appeared the most rapid in 2018 when exports increased by X%. As a result, the exports reached the peak of X kg. From 2019 to 2022, the growth of the exports failed to regain momentum.
In value terms, refined maize oil exports shrank to $X in 2022. In general, exports, however, continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2018 when exports increased by X%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.
Exports by Country
South Africa (X kg) was the main destination for refined maize oil exports from Nigeria, with a X% share of total exports. Moreover, refined maize oil exports to South Africa exceeded the volume sent to the second major destination, Canada (X kg), more than tenfold.
From 2012 to 2022, the average annual rate of growth in terms of volume to South Africa amounted to X%.
In value terms, South Africa ($X) remains the key foreign market for refined maize (corn) oil exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by Canada ($X), with a X% share of total exports.
From 2012 to 2022, the average annual rate of growth in terms of value to South Africa amounted to X%.
Export Prices by Country
The average refined maize oil export price stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the export price, however, showed a strong expansion. The pace of growth was the most pronounced in 2013 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to Canada amounted to $X per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (X%).
Refined Maize Oil Imports
Imports into Nigeria
Refined maize oil imports into Nigeria skyrocketed to X tons in 2022, with an increase of X% on 2021. Over the period under review, imports saw pronounced growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.
In value terms, refined maize oil imports surged to $X in 2022. In general, imports recorded a buoyant increase. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.
Imports by Country
In 2022, Spain (X tons) was the main supplier of refined maize oil to Nigeria, accounting for a X% share of total imports. Moreover, refined maize oil imports from Spain exceeded the figures recorded by the second-largest supplier, the UK (X tons), more than tenfold.
From 2012 to 2022, the average annual growth rate of volume from Spain totaled X%.
In value terms, Spain ($X) constituted the largest supplier of refined maize (corn) oil to Nigeria, comprising X% of total imports. The second position in the ranking was taken by the UK ($X), with a X% share of total imports.
From 2012 to 2022, the average annual growth rate of value from Spain totaled X%.
Import Prices by Country
The average refined maize oil import price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price posted a resilient increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Spain amounted to $X per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced mixed trend patterns.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the refined maize 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:
- Prodcom 10621460 - Refined maize (corn) oil and its fractions (excluding chemically modified)
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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