Price for Phosphates; N.E.S in Item No. 2835.2 in Nigeria - 2022
Contents:
- Price for Phosphates; N.E.S in Item No. 2835.2 in Nigeria (CIF) - 2022
- Price for Phosphates; N.E.S in Item No. 2835.2 in Nigeria (FOB) - 2022
- Imports of Phosphates; N.E.S in Item No. 2835.2 in Nigeria
- Exports of Phosphates; N.E.S in Item No. 2835.2 in Nigeria
Price for Phosphates; N.E.S in Item No. 2835.2 in Nigeria (CIF) - 2022
In 2022, the average import price for phosphates; n.e.s in item no. 2835.2s amounted to $1,872 per ton, falling by -19.2% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average import price increased by 116% against the previous year. Over the period under review, average import prices reached the maximum at $2,822 per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($3,403 per ton), while the price for China ($1,614 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+46.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Phosphates; N.E.S in Item No. 2835.2 in Nigeria (FOB) - 2022
In 2022, the average export price for phosphates; n.e.s in item no. 2835.2s amounted to $2,138 per ton, approximately equating the previous year. In general, the export price, however, saw a relatively flat trend pattern. The export price peaked at $8,000 per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for Burkina Faso.
From 2012 to 2022, the rate of growth in terms of prices for Burkina Faso amounted to 0.0% per year.
Imports of Phosphates; N.E.S in Item No. 2835.2 in Nigeria
In 2022, after two years of decline, there was significant growth in overseas purchases of phosphates; n.e.s in item no. 2835.2s, when their volume increased by 5.7% to 216 tons. Overall, imports, however, recorded a drastic downturn.
In value terms, imports of phosphates; n.e.s in item no. 2835.2s declined to $405K in 2022. Over the period under review, imports, however, continue to indicate a dramatic decline.
| Import of Phosphates; N.E.S in Item No. 2835.2 in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 56.2 | 74.3 | 52.8 | 275 | 69.8% |
| Thailand | N/A | N/A | 15.3 | 69.6 | 354.9% |
| India | 51.7 | 68.9 | 78.0 | 41.2 | -7.3% |
| Turkey | 63.3 | 117 | 20.0 | 14.5 | -38.8% |
| United States | 97.7 | 120 | 128 | 2.7 | -69.8% |
| France | 33.6 | 21.7 | 8.0 | 1.9 | -61.6% |
| Spain | 87.7 | 60.1 | 27.3 | N/A | -44.2% |
| Germany | 119 | 102 | 26.2 | N/A | -53.1% |
| South Korea | 135 | N/A | N/A | N/A | 0% |
| Slovenia | 7.7 | 7.9 | 17.4 | N/A | 50.3% |
| South Africa | 9.9 | 56.2 | 17.9 | N/A | 34.5% |
| Israel | 28.2 | 31.5 | 30.6 | N/A | 4.2% |
| Others | 129 | 35.6 | 53.0 | N/A | -35.9% |
| Total | 819 | 694 | 474 | 405 | -20.9% |
Top Suppliers of Phosphates; N.E.S in Item No. 2835.2 to Nigeria in 2022:
- China (170.5 tons)
- Thailand (20.5 tons)
- India (18.3 tons)
- Turkey (5.8 tons)
- United States (0.9 tons)
- France (0.5 tons)
Exports of Phosphates; N.E.S in Item No. 2835.2 in Nigeria
In 2022, approx. 311 kg of phosphates; n.e.s in item no. 2835.2s were exported from Nigeria; surging by 11% against the previous year. The total export volume increased at an average annual rate of +11.1% over the period from 2021 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of phosphates; n.e.s in item no. 2835.2s rose remarkably to $665 in 2022. The total export value increased at an average annual rate of +10.3% over the period from 2021 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Phosphates; N.E.S in Item No. 2835.2 in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2021 | 2022 | CAGR, 2021-2022 | ||
| Burkina Faso | N/A | 665 | 0% | ||
| Singapore | 302 | N/A | 0% | ||
| Others | 301 | N/A | 0% | ||
| Total | 603 | 665 | 10.3% | ||
Top Export Markets for Phosphates; N.E.S in Item No. 2835.2 from Nigeria in 2022:
- Burkina Faso (311.0 kg)
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