Price for Cotton; Waste Other than Garnetted Stock and Yarn (Including Thread) Waste in Nigeria - 2023

Contents:

1. Price for Cotton; Waste Other than Garnetted Stock and Yarn (Including Thread) Waste in Nigeria (CIF) - 2022
2. Price for Cotton; Waste Other than Garnetted Stock and Yarn (Including Thread) Waste in Nigeria (FOB) - 2023
3. Imports of Cotton; Waste Other than Garnetted Stock and Yarn (Including Thread) Waste in Nigeria
4. Exports of Cotton; Waste Other than Garnetted Stock and Yarn (Including Thread) Waste in Nigeria

Price for Cotton; Waste Other than Garnetted Stock and Yarn (Including Thread) Waste in Nigeria (CIF) - 2022

In 2022, the average import price for cotton; waste other than garnetted stock and yarn (including thread) waste amounted to $864 per ton, remaining relatively unchanged against the previous year. Overall, the import price recorded a deep reduction. The pace of growth was the most pronounced in 2019 when the average import price increased by 58%. The import price peaked at $3,424 per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 Taiwan (Chinese) amounted to +35.6% per year.

Price for Cotton; Waste Other than Garnetted Stock and Yarn (Including Thread) Waste in Nigeria (FOB) - 2023

In December 2023, the average export price for cotton; waste other than garnetted stock and yarn (including thread) waste amounted to $844 per ton, growing by 20% against the previous month. Over the last one months, it increased at an average monthly rate of +20.0%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Bangladesh.

From November 2023 to December 2023, the rate of growth in terms of prices for Vietnam amounted to 0.0% per month.

Imports of Cotton; Waste Other than Garnetted Stock and Yarn (Including Thread) Waste in Nigeria

In 2022, the amount of cotton; waste other than garnetted stock and yarn (including thread) waste imported into Nigeria shrank remarkably to 2.4 tons, reducing by -95.3% on 2021. In general, imports showed a dramatic decrease. The smallest decline of -22.3% was in 2020.

In value terms, imports of cotton; waste other than garnetted stock and yarn (including thread) waste fell remarkably to $2.1K in 2022. Over the period under review, imports continue to indicate a sharp curtailment. The smallest decline of -45.9% was in 2020.

Top Suppliers of Cotton; Waste Other than Garnetted Stock and Yarn (Including Thread) Waste to Nigeria in 2022:

1. China (2.4 tons)

Exports of Cotton; Waste Other than Garnetted Stock and Yarn (Including Thread) Waste in Nigeria

For the third consecutive year, Nigeria recorded decline in overseas shipments of cotton; waste other than garnetted stock and yarn (including thread) waste, which decreased by -94.8% to 37 kg in 2022. Overall, exports showed a sharp contraction. The smallest decline of -27.3% was in 2021.

In value terms, exports of cotton; waste other than garnetted stock and yarn (including thread) waste contracted significantly to $82 in 2022. Over the period under review, exports showed a sharp shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 35%. As a result, the exports reached the peak of $1.9K, and then shrank sharply in the following year.

Top Export Markets for Cotton; Waste Other than Garnetted Stock and Yarn (Including Thread) Waste from Nigeria in 2022:

1. Niger (37.0 kg)

Source: IndexBox Market Intelligence Platform