Silicates; Sodium Metasilicates Price in Ghana - 2023

Silicates; Sodium Metasilicates Price in Ghana (CIF) - 2023

In December 2023, the average silicates; sodium metasilicates import price amounted to $419 per ton, which is down by -90.7% against the previous month. Over the period under review, the import price continues to indicate a deep setback. The growth pace was the most rapid in November 2023 an increase of 925% against the previous month. As a result, import price reached the peak level of $4,484 per ton, and then declined markedly in the following month.

As there is only one major supplying country, the average price level is determined by prices for China.

From December 2022 to December 2023, the rate of growth in terms of prices for China amounted to -1.7% per month.

Silicates; Sodium Metasilicates Price in Ghana (FOB) - 2022

In 2022, the average silicates; sodium metasilicates export price amounted to $8,000 per ton, almost unchanged from the previous year. In general, the export price posted a prominent expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 58%. The export price peaked at $8,143 per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to +28.6% per year.

Silicates; Sodium Metasilicates Imports in Ghana

In 2022, approx. 1.3K tons of silicates; sodium metasilicateses were imported into Ghana; with an increase of 31% on the previous year's figure. In general, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 158%. As a result, imports attained the peak of 1.7K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, silicates; sodium metasilicates imports soared to $442K in 2022. Over the period under review, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 138%. As a result, imports reached the peak of $539K. From 2021 to 2022, the growth of imports failed to regain momentum.

Import of Silicates; Sodium Metasilicates in Ghana (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	126	439	241	320	36.4%
Germany	74.2	84.2	80.7	97.7	9.6%
India	5.1	5.6	5.3	6.2	6.7%
Others	20.7	10.7	17.9	17.8	-4.9%
Total	226	539	345	442	25.1%

Top Suppliers of Silicates; Sodium Metasilicates to Ghana in 2022:

China (1161.2 tons)
Germany (124.6 tons)
India (38.0 tons)

Silicates; Sodium Metasilicates Exports in Ghana

In 2022, after three years of growth, there was decline in overseas shipments of silicates; sodium metasilicateses, when their volume decreased by -4% to 24 kg. The total export volume increased at an average annual rate of +4.6% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 9.5% against the previous year.

In value terms, silicates; sodium metasilicates exports dropped slightly to $192 in 2022. The total export value increased at an average annual rate of +3.9% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 8.2%.