Updated Nov 6, 2022 23:28

Market for Citrus Fruit Or Melons Peel in Nigeria

Market Overview
The Nigerien market for peel of citrus fruit or melons reached $ in , picking up 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). Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $ in 2007; however, from 2008 to , consumption failed to regain momentum.

In value terms, citrus fruit or melons peel production totaled $ in estimated in export price. In general, production, however, recorded a slight reduction. The pace of growth appeared the most rapid in 2014 with an increase of % against the previous year. Citrus fruit or melons peel production peaked at $ in 2007; however, from 2008 to , production failed to regain momentum.


Consumption
Citrus fruit or melons peel consumption in Nigeria dropped to tons in , approximately reflecting the previous year's figure. In general, consumption, however, showed slight growth. As a result, consumption attained the peak volume of tons. From to , the growth of the consumption remained at a somewhat lower figure.

The size of the market for peel of citrus fruit or melons in Nigeria shrank to $ in , declining 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). Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $ in 2007; however, from 2008 to , consumption remained at a lower figure.


Market Forecast
The market for citrus fruit or melons peel is expected to start a downward consumption trend over the next eight-year period. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eight-year period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Over the period under review, imports of citrus fruit or melons peel in Nigeria were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for citrus fruit or melons peel. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (less than percentage point) over the period under review.


Trade Balance
Nigeria remains a net exporter of citrus fruit or melons peel; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.