Glycerol Price in Nigeria - 2022
Contents:
Glycerol Price in Nigeria (CIF) - 2022
In 2022, the average glycerol import price amounted to $1,582 per ton, picking up by 53% against the previous year. Over the period under review, the import price posted a buoyant increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($2,882 per ton), while the price for Thailand ($816 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Glycerol Imports in Nigeria
In 2022, purchases abroad of glycerol decreased by -1% to 6.7K tons, falling for the second year in a row after two years of growth. Over the period under review, imports showed a noticeable contraction. The pace of growth was the most pronounced in 2020 when imports increased by 46%. As a result, imports reached the peak of 11K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, glycerol imports skyrocketed to $11M in 2022. In general, total imports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +21.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +78.1% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Glycerol in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Brazil | 445 | 2,046 | 2,822 | 3,971 | 107.4% |
| Indonesia | 1,106 | 1,875 | 948 | 1,961 | 21.0% |
| Malaysia | 1,685 | 1,624 | 546 | 1,694 | 0.2% |
| China | 96.0 | 618 | 227 | 945 | 114.3% |
| India | 124 | 496 | 333 | 492 | 58.3% |
| Germany | 88.6 | 193 | 191 | 198 | 30.7% |
| Thailand | 133 | 290 | 182 | 133 | 0.0% |
| South Korea | 161 | 140 | 70.0 | N/A | -34.1% |
| Australia | 533 | 514 | 427 | N/A | -10.5% |
| Saudi Arabia | 414 | 56.8 | 198 | N/A | -30.8% |
| Others | 1,128 | 968 | 1,031 | 1,138 | 0.3% |
| Total | 5,914 | 8,821 | 6,974 | 10,532 | 21.2% |
Top Suppliers of Glycerol to Nigeria in 2022:
- Brazil (2729.5 tons)
- Indonesia (1221.6 tons)
- Malaysia (1028.7 tons)
- China (864.4 tons)
- India (170.8 tons)
- Thailand (162.9 tons)
- Germany (133.0 tons)
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