Price for Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in Kenya - 2023

Contents:

1. Price for Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in Kenya (CIF) - 2023
2. Price for Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in Kenya (FOB) - 2022
3. Imports of Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in Kenya
4. Exports of Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in Kenya

Price for Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in Kenya (CIF) - 2023

In December 2023, the average import price for synthetic staple fibres, not carded, combed or otherwise processed for spinnings amounted to $911 per ton, rising by 9.7% against the previous month. Overall, the import price, however, showed a slight downturn. The most prominent rate of growth was recorded in March 2023 an increase of 27% against the previous month. As a result, import price attained the peak level of $1,144 per ton. From April 2023 to December 2023, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was South Korea ($1,243 per ton), while the price for Tanzania ($520 per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Thailand (+5.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in Kenya (FOB) - 2022

In 2022, the average export price for synthetic staple fibres, not carded, combed or otherwise processed for spinnings amounted to $942 per ton, increasing by 53% against the previous year. Overall, the export price continues to indicate a strong increase. The growth pace was the most rapid in 2016 an increase of 740% against the previous year. Over the period under review, the average export prices hit record highs at $5,840 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Tanzania ($1,232 per ton), while the average price for exports to Uganda ($708 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mozambique (+17.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in Kenya

In 2022, after three years of growth, there was significant decline in overseas purchases of synthetic staple fibres, not carded, combed or otherwise processed for spinnings, when their volume decreased by -28% to 7.7K tons. Overall, imports saw a pronounced decline. The pace of growth was the most pronounced in 2021 when imports increased by 14% against the previous year. As a result, imports attained the peak of 11K tons, and then plummeted in the following year.

In value terms, imports of synthetic staple fibres, not carded, combed or otherwise processed for spinnings fell to $8.3M in 2022. Over the period under review, imports recorded a pronounced downturn. The pace of growth was the most pronounced in 2021 when imports increased by 25% against the previous year. As a result, imports attained the peak of $9.6M, and then shrank in the following year.

Top Suppliers of Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning to Kenya in 2022:

1. India (1291.2 tons)
2. Uganda (653.2 tons)
3. China (599.6 tons)
4. Tanzania (395.9 tons)
5. Morocco (315.8 tons)
6. Vietnam (272.2 tons)
7. South Korea (96.0 tons)
8. Thailand (24.4 tons)

Exports of Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in Kenya

In 2022, the amount of synthetic staple fibres, not carded, combed or otherwise processed for spinnings exported from Kenya shrank markedly to 60 tons, waning by -17.9% compared with 2021. In general, exports, however, posted a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 303% against the previous year. As a result, the exports reached the peak of 73 tons, and then contracted sharply in the following year.

In value terms, exports of synthetic staple fibres, not carded, combed or otherwise processed for spinnings soared to $56K in 2022. Over the period under review, total exports indicated a notable expansion from 2019 to 2022: its value increased at an average annual rate of +4.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +59.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Synthetic Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning from Kenya in 2022:

1. Rwanda (21.6 tons)
2. Uganda (2.8 tons)
3. Tanzania (2.3 tons)

Source: IndexBox Market Intelligence Platform