Price for Flax; Hackled or Otherwise Processed, But Not Spun in Nigeria - 2022
Contents:
- Price for Flax; Hackled or Otherwise Processed, But Not Spun in Nigeria (CIF) - 2022
- Price for Flax; Hackled or Otherwise Processed, But Not Spun in Nigeria (FOB) - 2022
- Imports of Flax; Hackled or Otherwise Processed, But Not Spun in Nigeria
- Exports of Flax; Hackled or Otherwise Processed, But Not Spun in Nigeria
Price for Flax; Hackled or Otherwise Processed, But Not Spun in Nigeria (CIF) - 2022
In 2022, the average import price for flax; hackled or otherwise processed, but not spuns amounted to $3,604 per ton, surging by 21% against the previous year. Over the last decade, it increased at an average annual rate of +5.6%. Over the period under review, average import prices hit record highs at $3,643 per ton in 2020; afterwards, it flattened through to 2022.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($2,972 per ton), while the price for the United Arab Emirates totaled $2,499 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.7%).
Price for Flax; Hackled or Otherwise Processed, But Not Spun in Nigeria (FOB) - 2022
In 2022, the average export price for flax; hackled or otherwise processed, but not spuns amounted to $5,182 per ton, surging by 38% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 46%. Over the period under review, the average export prices hit record highs at $5,375 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Benin.
From 2012 to 2022, the rate of growth in terms of prices for Benin amounted to -0.4% per year.
Imports of Flax; Hackled or Otherwise Processed, But Not Spun in Nigeria
In 2022, imports of flax; hackled or otherwise processed, but not spuns into Nigeria contracted markedly to 2.6 tons, which is down by -88.4% against the previous year. Overall, imports faced a dramatic decrease. The growth pace was the most rapid in 2021 with an increase of 335%. As a result, imports reached the peak of 23 tons, and then contracted rapidly in the following year.
In value terms, imports of flax; hackled or otherwise processed, but not spuns fell sharply to $9.5K in 2022. Over the period under review, imports recorded a precipitous curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 257%. As a result, imports attained the peak of $67K, and then fell sharply in the following year.
| Import of Flax; Hackled or Otherwise Processed, But Not Spun in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 10.2 | 9.4 | 45.5 | 5.6 | -18.1% |
| China | 10.7 | 6.5 | 13.8 | 1.1 | -53.2% |
| Others | 2.4 | 2.9 | 8.1 | 2.8 | 5.3% |
| Total | 23.3 | 18.9 | 67.3 | 9.5 | -25.8% |
Top Suppliers of Flax; Hackled or Otherwise Processed, But Not Spun to Nigeria in 2022:
- United Arab Emirates (2241.0 kg)
- China (355.0 kg)
Exports of Flax; Hackled or Otherwise Processed, But Not Spun in Nigeria
For the third year in a row, Nigeria recorded decline in shipments abroad of flax; hackled or otherwise processed, but not spuns, which decreased by -33.3% to 22 kg in 2022. In general, exports recorded a sharp contraction.
In value terms, exports of flax; hackled or otherwise processed, but not spuns reduced to $114 in 2022. Over the period under review, exports recorded a deep contraction. The smallest decline of -7.5% was in 2021.
| Export of Flax; Hackled or Otherwise Processed, But Not Spun in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Benin | 146 | 134 | 124 | 114 | -7.9% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 146 | 134 | 124 | 114 | -7.9% |
Top Export Markets for Flax; Hackled or Otherwise Processed, But Not Spun from Nigeria in 2022:
- Benin (22.0 kg)
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