Price for Yarn of Other Vegetable Textile Fibres; Paper Yarn in Nigeria - 2023
Contents:
- Price for Yarn of Other Vegetable Textile Fibres; Paper Yarn in Nigeria (CIF) - 2023
- Imports of Yarn of Other Vegetable Textile Fibres; Paper Yarn in Nigeria
Price for Yarn of Other Vegetable Textile Fibres; Paper Yarn in Nigeria (CIF) - 2023
In December 2023, the average import price for yarn of other vegetable textile fibres; paper yarns amounted to $1,180 per ton, reducing by -15.8% against the previous month. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in October 2023 an increase of 69% against the previous month. Over the period under review, average import prices hit record highs at $2,064 per ton in June 2023; however, from July 2023 to December 2023, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In December 2023, the country with the highest price was China ($1,295 per ton), while the price for Kenya stood at $1,163 per ton.
From January 2023 to December 2023, the most notable rate of growth in terms of prices was attained by China (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Yarn of Other Vegetable Textile Fibres; Paper Yarn in Nigeria
In 2022, the amount of yarn of other vegetable textile fibres; paper yarns imported into Nigeria soared to 32K tons, growing by 1,048% against the previous year's figure. Over the period under review, imports recorded a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of yarn of other vegetable textile fibres; paper yarns surged to $32M in 2022. In general, imports enjoyed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Yarn of Other Vegetable Textile Fibres; Paper Yarn in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Kenya | 0.2 | 1.1 | 2.1 | 25.2 | 401.3% |
| China | N/A | 0.2 | 0.3 | 2.5 | 253.6% |
| Tanzania | 0.1 | 0.2 | 0.4 | 2.4 | 188.4% |
| Mozambique | 1.3 | 0.6 | 0.1 | 0.9 | -11.5% |
| Others | N/A | 0.2 | N/A | 0.6 | 73.2% |
| Total | 1.7 | 2.4 | 2.9 | 31.6 | 164.9% |
Top Suppliers of Yarn of Other Vegetable Textile Fibres; Paper Yarn to Nigeria in 2022:
- Kenya (27.3K tons)
- China (2.5K tons)
- Tanzania (1.4K tons)
- Mozambique (0.8K tons)
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