New Market Research Report: Nigeria Agribusiness Report Q4 2014

From: Fast Market Research, Inc.
Published: Fri Sep 12 2014

Reports of outbreaks of black pod disease in key southern cocoa-growing states has raised concerns for the 2013/14 mid-crop, but the government appears to have responded quickly in distributing fungicides. Overall, prospects for Nigeria's key cash crop are good with private investment and government support forthcoming and high prices supported by supply deficits. Domestic rice production faces a more mixed scenario with increasing investment forthcoming but a reduction in import tariffs suggesting the government is struggling to wean Nigerian consumers off Thai imports. The ongoing security problems in northern Nigeria caused by the Boko Haram insurgency are still causing difficulties for wheat and corn growers and poultry producers, who have suffered in the face of disrupted distribution and higher feed costs in part related to the insurgency.

Full Report Details at

Key Forecasts

* Cocoa production growth to 2017/18: 59.6% 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: 19.9% to 9.3mn tonnes. A fast-growing population with steadily rising incomes will ensure strong demand for the staple grain.
* BMI universe agribusiness market value: 0.2% year-on-year (y-o-y) increase to USD5.94bn in 2014; forecast to grow by an average of 5.8% a year over 2014-2018.
* Real GDP growth 2014: 6.5% y-o-y, (down from 7.4% in 2013).
* Inflation (eop) 2014: 8.5% (up from 7.9% in 2013).

Industry Developments

Our view that Nigeria's stringent policy on rice imports would prove unsustainable has played out with the government announcing in July that it would reduce the 100% levy it imposed on imported rice in January 2013. The policy statement specifies that under the new regime rice mills who meet certain criteria will pay a lower levy on rough rice grown...

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.


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You may also be interested in these related reports:

- Thailand Agribusiness Report Q4 2014
- Saudi Arabia Agribusiness Report Q4 2014
- Greece Agribusiness Report Q4 2014
- Algeria Agribusiness Report Q4 2014
- Iran Agribusiness Report Q4 2014
Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
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