Price for Silicates; of Sodium (Excluding Sodium Metasilicates) in Nigeria - 2022
Contents:
- Price for Silicates; of Sodium (Excluding Sodium Metasilicates) in Nigeria (CIF) - 2022
- Price for Silicates; of Sodium (Excluding Sodium Metasilicates) in Nigeria (FOB) - 2022
- Imports of Silicates; of Sodium (Excluding Sodium Metasilicates) in Nigeria
- Exports of Silicates; of Sodium (Excluding Sodium Metasilicates) in Nigeria
Price for Silicates; of Sodium (Excluding Sodium Metasilicates) in Nigeria (CIF) - 2022
The average import price for silicates; of sodium (excluding sodium metasilicates)s stood at $570 per ton in June 2022, increasing by 60% against the previous month. In general, the import price enjoyed slight growth. The most prominent rate of growth was recorded in April 2022 when the average import price increased by 3,476% against the previous month. As a result, import price reached the peak level of $13,580 per ton. From May 2022 to June 2022, the average import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for Egypt.
From June 2021 to June 2022, the rate of growth in terms of prices for Egypt amounted to +4.9% per month.
Price for Silicates; of Sodium (Excluding Sodium Metasilicates) in Nigeria (FOB) - 2022
The average export price for silicates; of sodium (excluding sodium metasilicates)s stood at $97 per ton in 2022, remaining relatively unchanged against the previous year. In general, the export price, however, saw a deep contraction. The pace of growth was the most pronounced in 2013 an increase of 55%. As a result, the export price attained the peak level of $661 per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Ghana ($117 per ton), while the average price for exports to Cote d'Ivoire amounted to $57 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (-17.0%).
Imports of Silicates; of Sodium (Excluding Sodium Metasilicates) in Nigeria
In 2022, imports of silicates; of sodium (excluding sodium metasilicates)s into Nigeria skyrocketed to 22K tons, with an increase of 345% against 2021. Overall, imports showed significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 738% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, imports of silicates; of sodium (excluding sodium metasilicates)s soared to $5.6M in 2022. Over the period under review, imports saw a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 378%. Over the period under review, imports of reached the peak figure in 2022 and are likely to see steady growth in the immediate term.
| Import of Silicates; of Sodium (Excluding Sodium Metasilicates) in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 295 | 2,271 | 319 | 3,542 | 129.0% |
| Hong Kong SAR | 159 | 276 | 942 | 1,005 | 84.9% |
| Egypt | 2.1 | 2.0 | 3.7 | 910 | 656.7% |
| Others | 195 | 562 | 729 | 140 | -10.5% |
| Total | 651 | 3,111 | 1,994 | 5,597 | 104.9% |
Top Suppliers of Silicates; of Sodium (Excluding Sodium Metasilicates) to Nigeria in 2022:
- China (12.8K tons)
- Hong Kong SAR (5.0K tons)
- Egypt (4.6K tons)
Exports of Silicates; of Sodium (Excluding Sodium Metasilicates) in Nigeria
In 2022, the amount of silicates; of sodium (excluding sodium metasilicates)s exported from Nigeria declined dramatically to 144 tons, dropping by -50% compared with the year before. In general, exports recorded a precipitous curtailment.
In value terms, exports of silicates; of sodium (excluding sodium metasilicates)s contracted remarkably to $14K in 2022. Overall, exports saw a sharp decrease.
| Export of Silicates; of Sodium (Excluding Sodium Metasilicates) in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2021 | 2022 | CAGR, 2021-2022 | ||
| Ghana | 16.0 | 11.3 | -29.4% | ||
| Cote d'Ivoire | 12.0 | 2.7 | -77.5% | ||
| Others | N/A | N/A | 0% | ||
| Total | 28.0 | 14.0 | -50.0% | ||
Top Export Markets for Silicates; of Sodium (Excluding Sodium Metasilicates) from Nigeria in 2022:
- Ghana (96.1 tons)
- Cote d'Ivoire (47.9 tons)
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