Sulphites; Thiosulphates Price in Nigeria - 2022

Sulphites; Thiosulphates Price in Nigeria (CIF) - 2022

The average sulphites; thiosulphates import price stood at $1,008 per ton in June 2022, standing approximately at the previous month. In general, the import price continues to indicate mild growth. The pace of growth appeared the most rapid in December 2021 an increase of 278% month-to-month. As a result, import price reached the peak level of $2,541 per ton. From January 2022 to June 2022, the average import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was China ($10,415 per ton), while the price for Belgium ($512 per ton) was amongst the lowest.

From June 2021 to June 2022, the most notable rate of growth in terms of prices was attained by China (+25.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Sulphites; Thiosulphates Price in Nigeria (FOB) - 2022

The average sulphites; thiosulphates export price stood at $1,543 per ton in 2022, which is down by -27.3% against the previous year. Overall, the export price, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2018 an increase of 330%. As a result, the export price reached the peak level of $6,000 per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Niger.

From 2012 to 2022, the rate of growth in terms of prices for Ghana amounted to +48.2% per year.

Sulphites; Thiosulphates Imports in Nigeria

Sulphites; thiosulphates imports into Nigeria stood at 2.7K tons in 2022, increasing by 13% on 2021 figures. Overall, imports, however, faced a sharp setback. The most prominent rate of growth was recorded in 2020 when imports increased by 18%. As a result, imports attained the peak of 13K tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, sulphites; thiosulphates imports dropped modestly to $1.7M in 2022. In general, imports, however, recorded a sharp decline. The pace of growth was the most pronounced in 2020 when imports increased by 15% against the previous year. As a result, imports attained the peak of $10M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Import of Sulphites; Thiosulphates in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Hong Kong SAR	2,666	6,520	1,112	941	-29.3%
United Kingdom	299	42.8	11.2	146	-21.3%
Germany	869	947	135	130	-46.9%
Italy	102	300	41.8	73.1	-10.5%
South Korea	242	306	51.7	43.4	-43.6%
India	166	72.0	18.4	24.4	-47.2%
China	2,691	602	85.8	13.5	-82.9%
Turkey	49.4	42.1	3.4	10.2	-40.9%
Others	1,789	1,360	284	339	-42.6%
Total	8,872	10,192	1,742	1,721	-42.1%

Top Suppliers of Sulphites; Thiosulphates to Nigeria in 2022:

Hong Kong SAR (956.9 tons)
United Kingdom (597.6 tons)
Germany (520.1 tons)
Italy (228.6 tons)
South Korea (110.5 tons)
India (70.8 tons)
Turkey (66.1 tons)
China (33.3 tons)

Sulphites; Thiosulphates Exports in Nigeria

In 2022, sulphites; thiosulphates exports from Nigeria surged to 750 kg, picking up by 37% on 2021 figures. The total export volume increased at an average annual rate of +12.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, sulphites; thiosulphates exports fell to $1.2K in 2022. In general, total exports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +17.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.5% against 2019 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 62% against the previous year.