Nitrites; Nitrates Price in Ghana - 2022

Contents:

1. Nitrites; Nitrates Price in Ghana (CIF) - 2022
2. Nitrites; Nitrates Price in Ghana (FOB) - 2022
3. Nitrites; Nitrates Imports in Ghana
4. Nitrites; Nitrates Exports in Ghana

Nitrites; Nitrates Price in Ghana (CIF) - 2022

The average nitrites; nitrates import price stood at $1,592 per ton in 2022, with a decrease of -8.7% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 24%. As a result, import price attained the peak level of $1,743 per ton, and then contracted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($1,927 per ton), while the price for Spain ($569 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.5%), while the prices for the other major suppliers experienced a decline.

Nitrites; Nitrates Price in Ghana (FOB) - 2022

The average nitrites; nitrates export price stood at $1,488 per ton in 2022, increasing by 15% against the previous year. In general, the export price saw perceptible growth. The most prominent rate of growth was recorded in 2017 an increase of 50% against the previous year. Over the period under review, the average export prices reached the peak figure at $2,400 per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Niger ($1,549 per ton), while the average price for exports to Togo amounted to $1,429 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Burkina Faso (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Nitrites; Nitrates Imports in Ghana

After three years of growth, overseas purchases of nitrites; nitrateses decreased by -12.1% to 1.9K tons in 2022. Over the period under review, total imports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +20.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +73.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 48% against the previous year.

In value terms, nitrites; nitrates imports contracted remarkably to $3M in 2022. Overall, imports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 68%.

Top Suppliers of Nitrites; Nitrates to Ghana in 2022:

1. South Africa (1123.4 tons)
2. Spain (249.9 tons)
3. China (115.1 tons)
4. Belgium (86.1 tons)
5. Netherlands (31.4 tons)

Nitrites; Nitrates Exports in Ghana

In 2022, approx. 136 tons of nitrites; nitrateses were exported from Ghana; shrinking by -38.1% on the year before. Over the period under review, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 315% against the previous year. As a result, the exports reached the peak of 220 tons, and then fell rapidly in the following year.

In value terms, nitrites; nitrates exports dropped dramatically to $203K in 2022. Overall, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 133%. As a result, the exports reached the peak of $283K, and then contracted sharply in the following year.

Top Export Markets for Nitrites; Nitrates from Ghana in 2022:

1. Togo (70.0 tons)
2. Niger (66.2 tons)

Source: IndexBox Market Intelligence Platform