Price for Yarn; of Flax, Multiple (Folded) or Cabled in Nigeria - 2023

Price for Yarn; of Flax, Multiple (Folded) or Cabled in Nigeria (CIF) - 2022

The average import price for yarn; of flax, multiple (folded) or cableds stood at $2,898 per ton in 2022, declining by -22.8% against the previous year. In general, the import price faced a significant curtailment. The pace of growth was the most pronounced in 2021 when the average import price increased by 1,008%. Over the period under review, average import prices reached the peak figure at $170,000 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -28.2% per year.

Imports of Yarn; of Flax, Multiple (Folded) or Cabled in Nigeria

In 2022, the amount of yarn; of flax, multiple (folded) or cableds imported into Nigeria skyrocketed to 14 tons, with an increase of 351% against the previous year's figure. Over the period under review, imports saw a significant increase. The pace of growth was the most pronounced in 2020 when imports increased by 110,900% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of yarn; of flax, multiple (folded) or cableds soared to $41K in 2022. Overall, imports showed a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 47,333%. Over the period under review, imports of attained the peak figure in 2022 and are likely to continue growth in the near future.