Phosphates; of Potassium Price in Nigeria - 2022
Contents:
- Phosphates; of Potassium Price in Nigeria (CIF) - 2022
- Phosphates; of Potassium Price in Nigeria (FOB) - 2022
- Phosphates; of Potassium Imports in Nigeria
- Phosphates; of Potassium Exports in Nigeria
Phosphates; of Potassium Price in Nigeria (CIF) - 2022
The average phosphates; of potassium import price stood at $1,891 per ton in 2022, approximately mirroring the previous year. Overall, the import price recorded a noticeable contraction. The pace of growth was the most pronounced in 2019 an increase of 26% against the previous year. The import price peaked at $2,478 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($3,295 per ton), while the price for Thailand ($1,547 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.1%), while the prices for the other major suppliers experienced mixed trend patterns.
Phosphates; of Potassium Price in Nigeria (FOB) - 2022
The average phosphates; of potassium export price stood at $3,253 per ton in 2022, remaining relatively unchanged against the previous year. Over the period under review, the export price recorded a deep slump. The pace of growth was the most pronounced in 2014 an increase of 28% against the previous year. As a result, the export price reached the peak level of $11,155 per ton. From 2015 to 2022, the average export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.
From 2012 to 2022, the rate of growth in terms of prices for Cote d'Ivoire amounted to -9.8% per year.
Phosphates; of Potassium Imports in Nigeria
After three years of growth, purchases abroad of phosphates; of potassia decreased by -0.7% to 251 tons in 2022. The total import volume increased at an average annual rate of +12.3% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 41% against the previous year.
In value terms, phosphates; of potassium imports declined slightly to $474K in 2022. The total import value increased at an average annual rate of +12.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 42% against the previous year.
| Import of Phosphates; of Potassium in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 201 | 312 | 262 | 230 | 4.6% |
| Brazil | 87.5 | 115 | 123 | 129 | 13.8% |
| Germany | 1.4 | 3.5 | 14.1 | 41.9 | 210.5% |
| Thailand | 27.8 | 25.0 | 18.4 | 13.2 | -22.0% |
| Netherlands | 7.3 | 8.7 | 8.5 | 8.1 | 3.5% |
| Others | 4.4 | 3.8 | 53.1 | 51.0 | 126.3% |
| Total | 330 | 468 | 480 | 474 | 12.8% |
Top Suppliers of Phosphates; of Potassium to Nigeria in 2022:
- China (142.8 tons)
- Brazil (69.4 tons)
- Germany (12.7 tons)
- Thailand (8.5 tons)
- Netherlands (4.3 tons)
Phosphates; of Potassium Exports in Nigeria
In 2022, shipments abroad of phosphates; of potassia decreased by 0% to 198 kg for the first time since 2018, thus ending a three-year rising trend. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by 1.5% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in years to come.
In value terms, phosphates; of potassium exports reduced slightly to $644 in 2022. The total export value increased at an average annual rate of +1.0% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2020 when exports increased by 2.9%.
| Export of Phosphates; of Potassium in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cote d'Ivoire | 625 | 638 | 646 | 644 | 1.0% |
| Others | N/A | 5.0 | N/A | N/A | 0% |
| Total | 625 | 643 | 646 | 644 | 1.0% |
Top Export Markets for Phosphates; of Potassium from Nigeria in 2022:
- Cote d'Ivoire (198.0 kg)
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