Nigeria Agribusiness Report

Providing expert analysis, independent forecasts and competitive intelligence on the agribusiness industry.

Report includes: BMI Industry View, Industry SWOT Analysis, Industry Forecasts, Supply & Demand Forecasts, Commodity Price Analysis and Company Profiles.

Why you should buy this report

  • Benefit from the latest market opportunities
  • Understand the threats to your operations and investments and protect your company against future risks
  • Gain insight on emerging trends that could support, strengthen or disrupt your activities in the market
  • Get a full view of the competitive landscape to assess your market position
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Nigeria Agribusiness Report
Product Price
$1,295.00

BMI View: We take a mixed view of the Nigerian agribusiness sector . The cocoa industry assumes a greater importance in the country's medium - term economic future now that oil revenues can no longer be relied upon as an easy source of foreign exchange . We remain cautiously optimistic that cocoa plantations and processing facilities will continue to receive the public and private sector support needed to move forward . Poultry, dairy, sugar , rice and wheat consumption are expected to continue to depend very largely on imports to meet demand , although a much greater percentage of demand for each of these commoditie s (apart from wheat) could potentially be met by local production. Poor infrastructure, lack of access to inputs and basic technology, fragmentation and a lack of access to finance and expertise are among the factors that lead us to take a pessimistic view of the medium - term prospects for self-sufficiency.

Key BMI Forecasts

  • Cocoa production growth to 2018/19: 53.9% to 381,600 tonnes. Global prices will remain sufficiently elevated to stimulate investment from government and private sector bodies.

  • Corn consumption growth to 2019: 1.5 % to 7.9 mn tonnes. Weaker demand from the livestock industry will hold down consumption growth.

  • 2015 real GDP growth: 3. 9 % (down from 6.3% in 2014).

  • 2015 consumer price inflation (ave): 10.0 % (up from 8.1% in 2014).

Agribusiness Market Value
BMI Market Value By Commodity (2011-2019)
e/f = BMI estimate/forecast. Source: FAO, BMI

Latest Updates & Structural Trends

  • The federal authority responsible for the sugar industry, the National Sugar Development Council (NSDC), is targeting production of 700,000 tonnes of sugar by 2016, according to the News Agency of Nigeria (NAN). Several so-called 'backward integration projects', where refineries are linked to plantations, are set to come on stream over the next year, including facilities operated by Dangote Sugar and Savannah Sugar Company. Increasing output by 1000% in such a short time seems an unrealistic target, but we will monitor progress with interest.

  • We expect the naira to further depreciate over the remainder of 2015 and into 2016. As a result, Nigerian households will pay more for imported goods, particularly rice, wheat and sugar, and consumption growth will be curtailed.

BMI Industry View
7
SWOT
9
Agribusiness
9
Industry Forecast
11
Cocoa Outlook
11
Table: Nigeria - Cocoa Production & Consumption Outlook
11
Table: Risks to Outlook
12
Table: Cocoa Production & Consumption (Nigeria 2011-2019)
13
Rice Outlook
14
Table: Nigeria - Rice Production & Consumption Outlook
14
Table: Risks To Outlook
15
Table: Rice Production & Consumption (Nigeria 2011-2019)
17
Livestock And Dairy Outlook
18
Table: Nigeria - Poultry Production & Consumption Outlook
18
Table: Nigeria - Pork Production & Consumption Outlook
19
Table: Nigeria - Milk Production & Consumption Outlook
19
Table: Risks To Outlook
20
Table: Poultry Production & Consumption (Nigeria 2011-2019)
21
Table: Pork Production & Consumption (Nigeria 2011-2019)
21
Table: Milk Production & Consumption (Nigeria 2011-2019)
22
Grains Outlook
23
Table: Nigeria - Wheat Production & Consumption Outlook
23
Table: Nigeria - Corn Production & Consumption Outlook
24
Table: Risks To Outlook
24
Table: Wheat Production & Consumption (Nigeria 2011-2019)
27
Table: Corn Production & Consumption (Nigeria 2011-2019)
27
Sugar Outlook
28
Table: Nigeria - Sugar Production & Consumption Outlook
28
Table: Risks To Outlook
29
Table: Sugar Production & Consumption (Nigeria 2011-2019)
30
Commodities Price Analysis
31
Global Commodities Strategy
31
Table: Select Commodities - Performance And BMI Forecasts
31
Upstream Analysis
33
Africa Machinery Outlook
33
Table: How Africa Compares With Other Regions
33
Table: Farm Size By Region (2012)
38
Africa GM Outlook
39
Table: Farm Size By Region
43
Africa Fertiliser Outlook
45
Downstream Analysis
51
Food
51
Food Consumption
51
Table: Food Consumption Indicators - Historical Data & Forecasts (Nigeria 2012-2019)
52
Table: Confectionery Value/Volume Sales, Production & Trade - Historical Data & Forecasts (Nigeria 2012-2019)
53
Table: Sweet Biscuits Volume Sales, Production & Trade - Historical Data & Forecasts (Nigeria 2014-2019)
53
Regional Overview
54
Middle East & Africa Regional Overview
54
Competitive Landscape
61
Table: Main Agribusiness Players
61
Demographic Forecast
62
Demographic Outlook
62
Table: Population Headline Indicators (Nigeria 1990-2025)
63
Table: Key Population Ratios (Nigeria 1990-2025)
63
Table: Urban/Rural Population & Life Expectancy (Nigeria 1990-2025)
64
Table: Population By Age Group (Nigeria 1990-2025)
64
Table: Population By Age Group % (Nigeria 1990-2025)
65
Methodology
67
Industry Forecast Methodology
67
Sector-Specific Methodology
68

The Nigeria Agribusiness Report features BMI Research'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

Summary of BMI’s key industry forecasts and views, highlighting recent changes and key risks to the industry outlook.

Industry SWOT Analysis

Analysis of the major strengths, weaknesses, opportunities and threats within the wider 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-2019 for the consumption, production and trade of key commodities.

  • Consumption Forecasts: 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: 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: 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 eight 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.

Competitive Landscape

The reports contain information on prominent companies operating in each market.

Key Commodities Covered By The Agribusiness Market

Reports Include: Grains, Dairy, Livestock, Rice, Sugar, Palm Oil, Edible Oils, Coffee, Cocoa, Cotton, Soybean

Please note – not all reports cover all commodities.

Sources

The Agribusiness reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.