Price for Cotton; Yarn Waste (Including Thread Waste) in Nigeria - 2023

Contents:

1. Price for Cotton; Yarn Waste (Including Thread Waste) in Nigeria (CIF) - 2022
2. Price for Cotton; Yarn Waste (Including Thread Waste) in Nigeria (FOB) - 2022
3. Imports of Cotton; Yarn Waste (Including Thread Waste) in Nigeria
4. Exports of Cotton; Yarn Waste (Including Thread Waste) in Nigeria

Price for Cotton; Yarn Waste (Including Thread Waste) in Nigeria (CIF) - 2022

The average import price for cotton; yarn waste (including thread waste) stood at $957 per ton in 2022, rising by 15% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 46% against the previous year. As a result, import price reached the peak level of $1,414 per ton. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($959 per ton), while the price for Norway amounted to $953 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cameroon (+8.1%).

Price for Cotton; Yarn Waste (Including Thread Waste) in Nigeria (FOB) - 2022

In 2022, the average export price for cotton; yarn waste (including thread waste) amounted to $1,052 per ton, with an increase of 12% against the previous year. Over the period under review, the export price, however, saw a perceptible decline. Over the period under review, the average export prices hit record highs at $1,675 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($1,052 per ton), while the average price for exports to China stood at $1,052 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (-4.5%).

Imports of Cotton; Yarn Waste (Including Thread Waste) in Nigeria

For the third year in a row, Nigeria recorded decline in purchases abroad of cotton; yarn waste (including thread waste), which decreased by -90.7% to 17 tons in 2022. In general, imports saw a precipitous descent. The smallest decline of -10.3% was in 2021.

In value terms, imports of cotton; yarn waste (including thread waste) contracted rapidly to $16K in 2022. Over the period under review, imports recorded a precipitous slump. The smallest decline of -47.2% was in 2021.

Top Suppliers of Cotton; Yarn Waste (Including Thread Waste) to Nigeria in 2022:

1. China (10.7 tons)
2. Norway (6.0 tons)

Exports of Cotton; Yarn Waste (Including Thread Waste) in Nigeria

After three years of growth, overseas shipments of cotton; yarn waste (including thread waste) decreased by -41.5% to 228 tons in 2022. In general, exports, however, posted significant growth. The pace of growth was the most pronounced in 2020 when exports increased by 1,108% against the previous year.

In value terms, exports of cotton; yarn waste (including thread waste) dropped markedly to $240K in 2022. Over the period under review, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 1,169%.

Top Export Markets for Cotton; Yarn Waste (Including Thread Waste) from Nigeria in 2022:

1. Indonesia (219.5 tons)
2. China (9.0 tons)

Source: IndexBox Market Intelligence Platform