Selenium Price in Nigeria - 2022
Contents:
- Selenium Price in Nigeria (CIF) - 2022
- Selenium Price in Nigeria (FOB) - 2022
- Selenium Imports in Nigeria
- Selenium Exports in Nigeria
Selenium Price in Nigeria (CIF) - 2022
In 2022, the average selenium import price amounted to $10,096 per ton, dropping by -52.4% against the previous year. Over the period under review, the import price saw a sharp decrease. The most prominent rate of growth was recorded in 2020 when the average import price increased by 47%. Over the period under review, average import prices attained the maximum at $615,973 per ton in 2014; however, from 2015 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 ($101,556 per ton), while the price for the United Arab Emirates ($5,005 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was attained by the UK (-8.6%), while the prices for the other major suppliers experienced a decline.
Selenium Price in Nigeria (FOB) - 2022
The average selenium export price stood at $24,000 per ton in 2022, waning by -16.7% against the previous year. Over the period under review, the export price recorded a abrupt descent. The pace of growth appeared the most rapid in 2021 when the average export price increased by 18%. Over the period under review, the average export prices attained the peak figure at $45,000 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for Niger.
From 2018 to 2022, the rate of growth in terms of prices for Niger amounted to -1.0% per year.
Selenium Imports in Nigeria
In 2022, the amount of selenia imported into Nigeria soared to 145 tons, growing by 541% compared with the previous year's figure. Overall, imports posted a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 720% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the near future.
In value terms, selenium imports soared to $1.5M in 2022. Over the period under review, imports posted significant growth. The growth pace was the most rapid in 2021 when imports increased by 297%. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Selenium in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 14.5 | 40.5 | 178 | 405 | 203.4% |
| Italy | 11.4 | 21.1 | 66.7 | 193 | 156.8% |
| United Kingdom | 23.7 | 35.1 | 9.1 | 76.7 | 47.9% |
| United Arab Emirates | 21.8 | 3.9 | 21.8 | 52.9 | 34.4% |
| Germany | 7.8 | 3.4 | 1.3 | 12.9 | 18.3% |
| Israel | 2.8 | 5.4 | 1.7 | 11.1 | 58.3% |
| Hong Kong SAR | 13.2 | 9.0 | 3.8 | 7.3 | -17.9% |
| Belgium | N/A | N/A | 108 | N/A | 0% |
| Qatar | 3.7 | N/A | N/A | N/A | 0% |
| Others | 0.9 | 2.1 | 87.7 | 702 | 820.5% |
| Total | 99.8 | 121 | 479 | 1,461 | 144.6% |
Top Suppliers of Selenium to Nigeria in 2022:
- China (13.3 tons)
- United Arab Emirates (10.6 tons)
- Italy (6.5 tons)
- Israel (0.9 tons)
- United Kingdom (0.8 tons)
- Germany (0.7 tons)
- Hong Kong SAR (0.4 tons)
Selenium Exports in Nigeria
After two years of growth, shipments abroad of selenia decreased by -20% to 4 kg in 2022. In general, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 150% against the previous year. As a result, the exports attained the peak of 5 kg, and then reduced rapidly in the following year.
In value terms, selenium exports dropped notably to $96 in 2022. Overall, exports, however, saw significant growth. The pace of growth was the most pronounced in 2021 with an increase of 194% against the previous year. As a result, the exports reached the peak of $144, and then fell notably in the following year.
| Export of Selenium in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2020 | 2021 | 2022 | CAGR, 2020-2022 | |
| Niger | 49.0 | 144 | 96.0 | 40.0% | |
| Others | N/A | N/A | N/A | 0% | |
| Total | 49.0 | 144 | 96.0 | 40.0% | |
Top Export Markets for Selenium from Nigeria in 2022:
- Niger (4.0 kg)
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