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Will Nigeria become a major exporter in the global market?
With the improved quality of its groundnuts and processing facilities, Nigeria could once again become a major exporter in the global market, as the world’s 3rd biggest groundnut producer. The Nigerian export markets are highly concentrated.
Why are Nigerian groundnuts so volatile?
The Nigerian export markets are highly concentrated. This market concentration makes the market for Nigerian groundnuts very volatile, as the price of groundnut exports highly depends on demand in those few markets. ITC Trademap). More than 80% of all imports from outside Europe and the world come from developing countries.
Which country imports the most groundnuts in the world?
Europe is by far the largest importing region for groundnuts in the world, accounting for around one-third of the total world trade. World imports of groundnuts have increased by an average of 22.7.% in value in the period 2019-2020 (source: 4. MARKET REQUIREMENTS
What are the different types of export packaging for groundnuts?
The most common types of export packaging are vacuum bags in cartons in the case of kernels and jute bags in the case of in-shell groundnuts. Other materials include tinplate containers or paper boxes. The size of the packaging for the export of bulk groundnuts is different.