Butter And Ghee Market in Nigeria
Market Overview
In 
, the Nigerien butter and ghee market increased by % to $, rising for the second consecutive year after four years of decline. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $ in 2011; however, from 2012 to , consumption stood at a somewhat lower figure.
In value terms, butter and ghee production soared to $ in estimated in export prices. Over the period under review, the total production indicated a measured expansion from 2007 to : its value increased at an average annual rate of +% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against 2017 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.
, the Nigerien butter and ghee market increased by % to $, rising for the second consecutive year after four years of decline. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $ in 2011; however, from 2012 to , consumption stood at a somewhat lower figure.In value terms, butter and ghee production soared to $
in estimated in export prices. Over the period under review, the total production indicated a measured expansion from 2007 to : its value increased at an average annual rate of +% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against 2017 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.Consumption
In , consumption of butter and ghee was finally on the rise to reach tonnes after five years of decline. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2011 when the consumption volume increased by % year-to-year. Over the period under review, consumption attained the peak volume at tonnes in 2014; however, from 2015 to , consumption failed to regain the momentum.
The size of the butter and ghee market in Nigeria skyrocketed to $ in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $ in 2011; however, from 2012 to , consumption stood at a somewhat lower figure.
, consumption of butter and ghee was finally on the rise to reach tonnes after five years of decline. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2011 when the consumption volume increased by % year-to-year. Over the period under review, consumption attained the peak volume at tonnes in 2014; however, from 2015 to , consumption failed to regain the momentum.The size of the butter and ghee market in Nigeria skyrocketed to $
in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $ in 2011; however, from 2012 to , consumption stood at a somewhat lower figure.Consumption By Type
Butter and dairy spreads ( tonnes) constituted the product with the largest volume of consumption, accounting for % of total volume. Moreover, butter and dairy spreads exceeded the figures recorded for the second-largest type, ghee ( tonnes), fourfold.
From 2007 to, the average annual rate of growth in terms of the volume of consumption of butter and dairy spreads stood at +%.
In value terms, butter and dairy spreads ($) led the market, alone. The second position in the ranking was occupied by ghee ($).
From 2007 to, the average annual rate of growth in terms of the market volume of butter and dairy spreads totaled +%.
tonnes) constituted the product with the largest volume of consumption, accounting for % of total volume. Moreover, butter and dairy spreads exceeded the figures recorded for the second-largest type, ghee ( tonnes), fourfold.From 2007 to
, the average annual rate of growth in terms of the volume of consumption of butter and dairy spreads stood at +%.In value terms, butter and dairy spreads ($
) led the market, alone. The second position in the ranking was occupied by ghee ($).From 2007 to
, the average annual rate of growth in terms of the market volume of butter and dairy spreads totaled +%.Market Forecast
Depressed by shrinking demand for butter and ghee in Nigeria, the market is expected to continue its downward consumption trend over the next decade. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tonnes by the end of .
% for the period from to , which is projected to depress the market volume to tonnes by the end of .Market Structure
In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.
, the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.Trade Balance
Nigeria remains a net importer of butter and ghee; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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