Price for Fertilizers; Mineral or Chemical, Nitrogenous in Nigeria - 2022
Contents:
- Price for Fertilizers; Mineral or Chemical, Nitrogenous in Nigeria (FOB) - 2022
- Price for Fertilizers; Mineral or Chemical, Nitrogenous in Nigeria (CIF) - 2022
- Exports of Fertilizers; Mineral or Chemical, Nitrogenous in Nigeria
- Imports of Fertilizers; Mineral or Chemical, Nitrogenous in Nigeria
Price for Fertilizers; Mineral or Chemical, Nitrogenous in Nigeria (FOB) - 2022
The average export price for fertilizers; mineral or chemical, nitrogenoi stood at $928 per ton in 2022, picking up by 50% against the previous year. Over the period under review, the export price posted resilient growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by 120% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($993 per ton), while the average price for exports to Cote d'Ivoire amounted to $227 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+17.9%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Fertilizers; Mineral or Chemical, Nitrogenous in Nigeria (CIF) - 2022
In 2022, the average import price for fertilizers; mineral or chemical, nitrogenoi amounted to $416 per ton, jumping by 88% against the previous year. Over the period under review, the import price, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2019 an increase of 91%. The import price peaked at $1,325 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for China.
From 2012 to 2022, the rate of growth in terms of prices for Indonesia amounted to +53.5% per year.
Exports of Fertilizers; Mineral or Chemical, Nitrogenous in Nigeria
In 2022, approx. 8.2M tons of fertilizers; mineral or chemical, nitrogenoi were exported from Nigeria; surging by 439% against 2021 figures. Over the period under review, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, fertilizers; mineral or chemical, nitrogenous exports skyrocketed to $7.6B in 2022. In general, exports showed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Fertilizers; Mineral or Chemical, Nitrogenous in Nigeria (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Brazil | 0.1 | 0.1 | 0.8 | 7.4 | 319.8% |
| Cote d'Ivoire | N/A | N/A | N/A | 0.2 | 0% |
| Others | N/A | N/A | 0.1 | N/A | 0% |
| Total | 0.2 | 0.1 | 0.9 | 7.6 | 236.2% |
Top Export Markets for Fertilizers; Mineral or Chemical, Nitrogenous from Nigeria in 2022:
- Brazil (7.5M tons)
- Cote d'Ivoire (0.7M tons)
Imports of Fertilizers; Mineral or Chemical, Nitrogenous in Nigeria
After three years of growth, purchases abroad of fertilizers; mineral or chemical, nitrogenoi decreased by -58.2% to 108K tons in 2022. Over the period under review, imports, however, recorded a significant increase. The growth pace was the most rapid in 2021 when imports increased by 378%. As a result, imports attained the peak of 257K tons, and then fell remarkably in the following year.
In value terms, fertilizers; mineral or chemical, nitrogenous imports contracted remarkably to $45M in 2022. Overall, imports, however, saw a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 214%. As a result, imports reached the peak of $57M, and then contracted dramatically in the following year.
| Import of Fertilizers; Mineral or Chemical, Nitrogenous in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 3.4 | 17.5 | 56.4 | 44.7 | 136.0% |
| Others | 2.9 | 0.5 | 0.4 | N/A | -62.9% |
| Total | 6.4 | 18.1 | 56.8 | 44.7 | 91.2% |
Top Suppliers of Fertilizers; Mineral or Chemical, Nitrogenous to Nigeria in 2022:
- China (107.6K tons)
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