Price for Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in Nigeria - 2022

Contents:

1. Price for Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in Nigeria (FOB) - 2022
2. Price for Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in Nigeria (CIF) - 2022
3. Exports of Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in Nigeria
4. Imports of Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in Nigeria

Price for Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in Nigeria (FOB) - 2022

The average export price for offal, edible; of bovine animals, (other than tongues and livers), frozens stood at $2,925 per ton in 2022, waning by -8.6% against the previous year. Over the period under review, the export price, however, showed resilient growth. Over the period under review, the average export prices hit record highs at $3,201 per ton in 2021, and then dropped in the following year.

As there is only one major export destination, the average price level is determined by prices for Hong Kong SAR.

From 2014 to 2022, the rate of growth in terms of prices for Ghana amounted to 0.0% per year.

Price for Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in Nigeria (CIF) - 2022

In 2022, the average import price for offal, edible; of bovine animals, (other than tongues and livers), frozens amounted to $965 per ton, shrinking by -16.8% against the previous year. Overall, the import price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when the average import price increased by 139%. Over the period under review, average import prices hit record highs at $4,352 per ton in 2012; however, from 2013 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 Netherlands ($3,892 per ton), while the price for Germany ($787 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (-6.7%), while the prices for the other major suppliers experienced a decline.

Exports of Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in Nigeria

Exports of offal, edible; of bovine animals, (other than tongues and livers), frozens from Nigeria amounted to 42 tons in 2022, picking up by 13% compared with the year before. The total export volume increased at an average annual rate of +12.8% from 2021 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of offal, edible; of bovine animals, (other than tongues and livers), frozens expanded modestly to $124K in 2022. The total export value increased at an average annual rate of +3.1% over the period from 2021 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen from Nigeria in 2022:

1. Hong Kong SAR (42.3 tons)

Imports of Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen in Nigeria

In 2022, supplies from abroad of offal, edible; of bovine animals, (other than tongues and livers), frozens decreased by -10% to 24 tons, falling for the second consecutive year after two years of growth. Over the period under review, imports showed a noticeable downturn. The pace of growth was the most pronounced in 2020 with an increase of 15% against the previous year. As a result, imports reached the peak of 31 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of offal, edible; of bovine animals, (other than tongues and livers), frozens declined markedly to $23K in 2022. In general, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 101% against the previous year.

Top Suppliers of Offal, Edible; of Bovine Animals, (Other than Tongues and Livers), Frozen to Nigeria in 2022:

1. United Kingdom (20.5 tons)
2. Germany (2.6 tons)
3. South Africa (0.4 tons)
4. Netherlands (0.1 tons)

Source: IndexBox Market Intelligence Platform