Yarn; of Coir Price in Nigeria - 2022

Yarn; of Coir Price in Nigeria (CIF) - 2022

The average yarn; of coir import price stood at $977 per ton in 2022, shrinking by -28% against the previous year. In general, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, yarn; of coir import price decreased by -48.1% against 2020 indices. The growth pace was the most rapid in 2013 when the average import price increased by 53%. The import price peaked at $1,995 per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($1,426 per ton), while the price for India stood at $599 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-4.7%).

Yarn; of Coir Imports in Nigeria

In 2022, the amount of yarn; of coirs imported into Nigeria soared to 28 tons, with an increase of 20% compared with the year before. Over the period under review, imports posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 79%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, yarn; of coir imports contracted to $27K in 2022. In general, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +10.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -25.3% against 2020 indices. The pace of growth was the most pronounced in 2020 when imports increased by 79% against the previous year. As a result, imports reached the peak of $37K. From 2021 to 2022, the growth of imports failed to regain momentum.