Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Nigeria - 2022
Contents:
- Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Nigeria (CIF) - 2022
- Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Nigeria (FOB) - 2022
- Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Nigeria
- Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Nigeria
Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Nigeria (CIF) - 2022
The average import price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose stood at $471 per ton in 2022, growing by 11% against the previous year. In general, the import price, however, recorded a noticeable decline. The pace of growth was the most pronounced in 2017 when the average import price increased by 44% against the previous year. Over the period under review, average import prices hit record highs at $585 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($1,516 per ton), while the price for Niger ($342 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+4.5%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Nigeria (FOB) - 2022
The average export price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose stood at $810 per ton in 2022, waning by -11.1% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 35% against the previous year. Over the period under review, the average export prices attained the maximum at $911 per ton in 2021, and then reduced in the following year.
As there is only one major export destination, the average price level is determined by prices for Niger.
From 2012 to 2022, the rate of growth in terms of prices for Niger amounted to +9.0% per year.
Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Nigeria
In 2022, overseas purchases of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose were finally on the rise to reach 12K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, saw a precipitous setback.
In value terms, imports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose skyrocketed to $5.8M in 2022. In general, imports, however, showed a significant contraction.
| Import of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Niger | 10.3 | 6.3 | 3.4 | 1.6 | -46.2% |
| Brazil | 2.2 | N/A | N/A | 1.5 | -12.0% |
| Netherlands | N/A | 0.3 | N/A | 1.2 | 100.0% |
| Others | 0.4 | 0.8 | 0.8 | 1.5 | 55.4% |
| Total | 12.8 | 7.4 | 4.2 | 5.8 | -23.2% |
Top Suppliers of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose to Nigeria in 2022:
- Niger (4.6K tons)
- Brazil (2.5K tons)
- Netherlands (1.5K tons)
Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Nigeria
After two years of decline, overseas shipments of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose increased by 89% to 57 tons in 2022. In general, exports, however, saw a dramatic setback.
In value terms, exports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose soared to $46K in 2022. Over the period under review, exports, however, showed a sharp setback.
| Export of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Niger | 22.2 | 8.1 | 5.6 | 45.4 | 26.9% |
| Benin | 70.3 | 0.7 | 18.1 | 0.3 | -83.8% |
| United Arab Emirates | N/A | 27.1 | 0.6 | N/A | -97.8% |
| South Africa | 1.1 | 0.5 | 0.3 | N/A | -47.8% |
| Ghana | 3.8 | N/A | N/A | N/A | 0% |
| Others | 1.2 | 27.9 | 2.8 | 0.1 | -56.3% |
| Total | 98.6 | 64.3 | 27.3 | 45.8 | -22.6% |
Top Export Markets for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose from Nigeria in 2022:
- Niger (55.8 tons)
- Benin (0.3 tons)
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