Price for Cork; Natural Cork, Raw or Simply Prepared in Nigeria - 2022

Contents:

1. Price for Cork; Natural Cork, Raw or Simply Prepared in Nigeria (CIF) - 2022
2. Imports of Cork; Natural Cork, Raw or Simply Prepared in Nigeria

Price for Cork; Natural Cork, Raw or Simply Prepared in Nigeria (CIF) - 2022

In 2022, the average import price for cork; natural cork, raw or simply prepareds amounted to $1,630 per ton, rising by 34% against the previous year. In general, the import price, however, continues to indicate a deep setback. The growth pace was the most rapid in 2014 an increase of 52%. Over the period under review, average import prices attained the peak figure at $2,897 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 the UK ($6,993 per ton), while the price for China amounted to $1,322 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+13.2%).

Imports of Cork; Natural Cork, Raw or Simply Prepared in Nigeria

In 2022, supplies from abroad of cork; natural cork, raw or simply prepareds decreased by -18.8% to 242 tons, falling for the second year in a row after two years of growth. Overall, imports, however, enjoyed resilient growth. The growth pace was the most rapid in 2020 when imports increased by 108%. As a result, imports reached the peak of 375 tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of cork; natural cork, raw or simply prepareds expanded sharply to $395K in 2022. The total import value increased at an average annual rate of +8.5% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Cork; Natural Cork, Raw or Simply Prepared to Nigeria in 2022:

1. China (228.5 tons)
2. United Kingdom (12.5 tons)

Source: IndexBox Market Intelligence Platform