Sulphates; of Magnesium Price in Nigeria - 2022
Contents:
Sulphates; of Magnesium Price in Nigeria (CIF) - 2022
In 2022, the average sulphates; of magnesium import price amounted to $576 per ton, falling by -7.6% against the previous year. In general, the import price recorded a perceptible slump. The pace of growth appeared the most rapid in 2021 an increase of 72%. The import price peaked at $875 per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 Ireland ($5,762 per ton), while the price for the Netherlands ($51 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Sulphates; of Magnesium Imports in Nigeria
In 2022, approx. 715 tons of sulphates; of magnesia were imported into Nigeria; reducing by -22.2% against 2021. Overall, imports faced a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 32%.
In value terms, sulphates; of magnesium imports fell dramatically to $412K in 2022. In general, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 128%. As a result, imports reached the peak of $573K, and then reduced notably in the following year.
| Import of Sulphates; of Magnesium in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 187 | 144 | 229 | 207 | 3.4% |
| Ireland | 180 | 64.0 | 140 | 128 | -10.7% |
| Germany | 87.7 | 34.8 | 86.4 | 69.2 | -7.6% |
| India | 15.2 | 4.5 | 8.2 | 6.3 | -25.4% |
| Netherlands | 1.6 | 0.6 | 1.4 | 1.0 | -14.5% |
| Others | 18.8 | 3.8 | 109 | 1.6 | -56.0% |
| Total | 491 | 252 | 573 | 412 | -5.7% |
Top Suppliers of Sulphates; of Magnesium to Nigeria in 2022:
- China (538.0 tons)
- Germany (120.2 tons)
- Ireland (22.1 tons)
- Netherlands (19.1 tons)
- India (13.4 tons)
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