Price for Monophenols; Naphthols and Their Salts in Nigeria - 2022

Price for Monophenols; Naphthols and Their Salts in Nigeria (CIF) - 2022

The average import price for monophenols; naphthols and their saltses stood at $2,699 per ton in 2022, jumping by 23% against the previous year. Overall, the import price, however, continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2016 when the average import price increased by 50% against the previous year. As a result, import price reached the peak level of $9,569 per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($4,105 per ton), while the price for China totaled $2,657 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-1.9%).

Imports of Monophenols; Naphthols and Their Salts in Nigeria

In 2022, after three years of growth, there was significant decline in purchases abroad of monophenols; naphthols and their saltses, when their volume decreased by -22.5% to 5.4 tons. Over the period under review, imports, however, posted a significant expansion. The pace of growth was the most pronounced in 2021 when imports increased by 82%. As a result, imports attained the peak of 7 tons, and then shrank significantly in the following year.

In value terms, monophenols; naphthols and their salts imports contracted slightly to $15K in 2022. The total import value increased at an average annual rate of +3.5% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 11%. As a result, imports reached the peak of $15K, and then fell modestly in the following year.