Nigeria is the Largest Importer of Sugar in Sub-Saharan Africa, With an Import Level of 1.56mmt

Thursday, February 15, 2018 /6:55 PM /FDC 

Nigeria is the largest importer of sugar in Sub-Saharan Africa, with an import level of 1.56MMT in 2016. Meanwhile, it only produces about 7% (70,000MT) of local demand estimated at 1MMT. The major users of sugar in Nigeria are the carbonated soft drinks industry (Coke, Pepsi and Sprite) and the brewers (NB and Guinness). Dangote industries are embarking on major backward integration projects across the country. 

In the meantime, Brent crude recovered from recent losses to cross $65pb, on the back of lower-than-expected US inventories (1.84bn barrels). However, oil prices have retreated to $63.70pb.  

Related News

1. Nigeria is the Largest Producer of Peanuts in Sub-Saharan Africa, and 3rd in the World
2. First Week of February 2018 Saw a Meltdown in Commodity Market
3. Nigeria is World’s Largest Consumer and Producer of Cassava With an Annual Output of 57.13m Tonnes
4. Sugar Prices Down by 0.15% - FDC
5. World Avocado Production Currently Valued at $10bn
6. Oil Price Volatility Is a Feature of Commodity Markets
7. The Delayed Impact of the Fuel Scarcity on Inflation is Expected in January 2018.
8. Nigeria’s non-oil exports increased by 55% to $1.26bn in 9M’2017
9. The Nigerian Economy: Riding On Global Commodities Market Waves
10. Drop in MoM Inflation Attributed to Massive Increase in Aggregate Output in December 2017
11. Nigeria is the nation with the 5th largest agric output in the world
12. Nigeria is the Largest Producer of Tomatoes in Sub-Saharan Africa and 13th in the World
13. Nigeria is Now the World’s Second Largest Producer of Sorghum
14. Consumers Are Bracing Themselves for a Challenging Christmas
15. Nigeria is a Fringe Player in Global Rice Production
16. Growing Global Supplies to Keep Prices of Grains Down
17. Oil Prices Slipped 0.26% in Sympathy with A 5% Slump in Copper Prices
18. Naira Strengthened In October to N363 - $ as Food Inflation Jumped to 15.34%
19. Nigeria Produced a Meager 348,000 Tonnes of Cotton in 2016
20. Most Food Prices In Nigeria Have Shrugged off The Currency Gains and Remained Relatively Static