Business Monitor International


Nigeria Agribusiness Report

Published 01 September 2014

  • 112 pages
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  • Includes 3 free updated quarterly reports
 
$1,295.00
Nigeria Agribusiness Report

BMI View:   With the 2013/14 cocoa season complete we maintain our view that production will recover after two lean years. We expect this rebound to set the stage for healthy production growth over the next five years as investment continues to pour into the sub-sector. Plans for the country's first chocolate factory suggest that consumer demand could also gather pace. Rice and sugar will benefit from a new irrigation scheme and more generally from the government's more nuanced efforts to incentivise local production: favouring financial incentives over the previous rather clumsy policy of merely hiking up tariffs. Investment has also been forthcoming for the dairy segment, although we caution that issues with storage and infrastructure may limit any short - term gains here. Feed costs are expected to continue to be a burden on livestock producers and the Boko Haram insurgency remains a threat to both livestock and grain production in northern Nigeria.

Agribusiness Market Value
BMI Market Value By Commodity (2010-2018)

Key Forecasts

  • Cocoa production growth to 2017/18: 59.4 % to 360,000 tonnes. Higher global prices, a result of the struggles of other West African producers, will provide stimulus to production, as will burgeoning investment.

  • Corn consumption growth to 2018: 19.5 % to 9.3mn tonnes. A fast-growing population with steadily rising incomes will ensure strong demand for the staple grain.

  • BMI U niverse A gribusiness M arket V alue: 3.6% year-on- year (y-o-y) increase to USD95.3 bn in 2015; forecast to grow by 30.6% from 2013-2018.

  • Real GDP growth 2015: 6.5% y-o-y (level from 2014).

  • Consumer price index (% y-o-y ave) 2015: 8.3 % (up from 8.2% in 2014).

Industry Developments

Mould caused by heavy downpours has affected cocoa farms in the Cross River region and led to farmgate prices falling by as much as 8%, Socodevi, a development NGO, told Bloomberg. The beans have mould levels reaching 21%, making them way below the quality...

Table of Contents

BMI Industry View
7
SWOT
10
Agribusiness
10
Business Environment
13
Industry Forecast
14
Cocoa Outlook
14
Table: Nigeria Cocoa Production & Consumption, 2013-2018
15
Table: Nigeria Cocoa Production & Consumption, 2008-2013
18
Rice Outlook
19
Table: Nigeria Rice Production & Consumption, 2013-2018
20
Table: Nigeria Rice Production & Consumption, 2008-2013
22
Livestock And Dairy Outlook
24
Table: Nigeria Poultry Production & Consumption, 2013-2018
25
Table: Nigeria Pork Production & Consumption, 2013-2018
26
Table: Nigeria Milk Production & Consumption, 2013-2018
26
Table: Nigeria Poultry Production & Consumption, 2008-2013
30
Table: Nigeria Pork Production & Consumption, 2008-2013
30
Table: Nigeria Milk Production & Consumption, 2008-2013
30
Grains Outlook
32
Table: Nigeria Wheat Production & Consumption, 2013-2018
33
Table: Nigeria Corn Production & Consumption, 2013-2018
33
Table: Nigeria Wheat Production & Consumption, 2008-2013
37
Table: Nigeria Corn Production & Consumption, 2008-2013
37
Sugar Outlook
39
Table: Nigeria Sugar Production & Consumption, 2013-2018
40
Table: Nigeria Sugar Production & Consumption, 2008-2013
41
Commodities Price Analysis
43
Monthly Grains Update
43
Table: Select Commodities - Performance & Forecasts
51
Monthly Softs Update
52
Table: Select Commodities - Performance & BMI Forecasts
62
Upstream Analysis
63
Africa Machinery Outlook
63
Africa GM Outlook
70
Africa Fertiliser Outlook
75
Downstream Analysis
81
Food
81
Food Consumption
81
Table: Food Consumption - Historical Data & Forecasts, 2011-2018
83
Table: Sugar Confectionery Production, Consumption & Trade - Historical Data & Forecasts, 2011-2018
83
Table: Preserved Fish Production, Consumption & Trade - Historical Data & Forecasts, 2011-2018
84
Table: Biscuits Production - Historical Data & Forecasts, 2011-2018
85
Drink
86
Alcoholic Drinks
86
Table: Alcoholic Drinks Value/Volume Sales - Historical Data & Forecasts, 2011-2018
87
Table: Beer Value/Volume Sales - Historical Data & Forecasts, 2011-2018
88
Soft Drinks
89
Table: Soft Drinks Value/Volume Sales - Historical Data & Forecasts, 2011-2018
89
Table: Carbonates Value/Volume Sales - Historical Data & Forecasts, 2011-2018
91
Table: Bottled Water Value/Volume Sales - Historical Data & Forecasts, 2011-2018
93
Mass Grocery Retail
94
Table: Mass Grocery Retail Sales By Format - Historical Data & Forecasts, 2011-2018
95
Regional Overview
96
Competitive Landscape
103
Table: Main Agribusiness Players
103
Demographic Forecast
104
Table: Nigeria's Population By Age Group, 1990-2020 ('000)
105
Table: Nigeria's Population By Age Group, 1990-2020 (% of total)
106
Table: Nigeria's Key Population Ratios, 1990-2020
107
Table: Nigeria's Rural And Urban Population, 1990-2020
107
Methodology
108
Industry Forecast Methodology
108
Sector-Specific Methodology
109

The Nigeria Agribusiness Report features Business Monitor International (BMI)'s market assessment and independent forecasts for production, consumption and trade across core agricultural commodities.

BMI's Nigeria Agribusiness Report includes independent commodity price forecasting and analysis for key agricultural outputs, an overview of the agribusiness competitive landscape and a discussion of the downstream context of agricultural production in relation to country food consumption forecasts and composite food and beverage trade forecasts.

Key Benefits

  • Use BMI's independent industry forecasts to test other views - a key input for successful planning in dynamic agribusiness markets.
  • Apply BMI's medium-term commodity price analysis to assist with budgetary planning and the identification of investment opportunities and potential risks.
  • Assess the activities and market position of your competitors, partners and clients.

Coverage

BMI Industry View

An analytical summary of BMI's latest key industry forecasts and views, highlighting recent changes and key risks to the industry outlook for agribusiness in Nigeria.

Industry SWOT Analysis

At-a-glance perspectives on the Strengths, Weaknesses, Opportunities and Threats facing the agricultural industry.

BMI Supply & Demand Forecasts

Divided into sections based on various diverse sectors in the agriculture market, the chapter provides insight into each market's agricultural industry, centred on sector forecasts to end-2018 for the consumption, production and trade of key agricultural commodities.

Consumption forecasts are accompanied by a discussion of the main drivers of consumption growth: macroeconomic factors, food processing trends, price movements and, increasingly, demand from the non-food sector.

Production forecasts examine the trends influencing BMI's production outlook: global demand, price increases, public and private sector investment and agricultural efficiency improvements.

Trade forecasts are accompanied by a discussion of the factors influencing a country's trade in agricultural goods, including domestic demand, global prices and government trade policies.

BMI's forecasts are accompanied by a Risks- to-Outlook assessment, which examines potential factors that could affect our existing forecast picture and the likelihood of their occurrence.

BMI's Commodity Price Analysis

Fundamental and technical analysis of the short- and medium-term price outlook for key agricultural commodities, based on globally-recognised benchmarks.

Downstream Analysis

Analysis of headline food and drink forecasts, including total food consumption, per capita food consumption and total sector trade, which provide important downstream intelligence for primary agricultural producers.

Featured Analysis

Includes relevant articles from BMI's daily analysis service. These can include long-term projections on agricultural imports and exports, our perceptions of the impacts of economic slowdown on key companies and subsectors within the Agribusiness industry in a given country, our analysis of fertilizer production as well as other relevant analysis of recent news and events on Store and Landing Pages.

Methodology & Sourcing

The Nigeria Agribusiness Report is based on an extensive network of multilateral organisations, government departments, industry associations, chambers and company reports.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc