Price for Cotton Waste (Including Yarn Waste and Garnetted Stock) in Nigeria - 2023

Contents:

1. Price for Cotton Waste (Including Yarn Waste and Garnetted Stock) in Nigeria (FOB) - 2022
2. Price for Cotton Waste (Including Yarn Waste and Garnetted Stock) in Nigeria (CIF) - 2022
3. Exports of Cotton Waste (Including Yarn Waste and Garnetted Stock) in Nigeria
4. Imports of Cotton Waste (Including Yarn Waste and Garnetted Stock) in Nigeria

Price for Cotton Waste (Including Yarn Waste and Garnetted Stock) in Nigeria (FOB) - 2022

The average export price for cotton waste (including yarn waste and garnetted stock) stood at $2,695 per ton in 2022, increasing by 625% against the previous year. In general, the export price, however, recorded a drastic downturn. The export price peaked at $7,492 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was India ($3,843 per ton), while the average price for exports to Pakistan ($1,056 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+3,362.2%), while the prices for the other major destinations experienced mixed trend patterns.

Price for Cotton Waste (Including Yarn Waste and Garnetted Stock) in Nigeria (CIF) - 2022

In 2022, the average import price for cotton waste (including yarn waste and garnetted stock) amounted to $682 per ton, falling by -35.5% against the previous year. Over the period under review, the import price saw a perceptible downturn. The growth pace was the most rapid in 2013 an increase of 62%. As a result, import price reached the peak level of $1,631 per ton. From 2014 to 2022, the average 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 ($1,029 per ton), while the price for Norway totaled $395 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+2.4%).

Exports of Cotton Waste (Including Yarn Waste and Garnetted Stock) in Nigeria

For the third consecutive year, Nigeria recorded growth in overseas shipments of cotton waste (including yarn waste and garnetted stock), which increased by 99% to 2.1K tons in 2022. Over the period under review, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 218% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, exports of cotton waste (including yarn waste and garnetted stock) soared to $5.8M in 2022. Overall, exports posted significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Cotton Waste (Including Yarn Waste and Garnetted Stock) from Nigeria in 2022:

1. Vietnam (1325.0 tons)
2. Pakistan (620.3 tons)
3. India (201.8 tons)

Imports of Cotton Waste (Including Yarn Waste and Garnetted Stock) in Nigeria

In 2022, approx. 27 tons of cotton waste (including yarn waste and garnetted stock) were imported into Nigeria; shrinking by -99.7% on the year before. Over the period under review, imports faced a dramatic setback. The growth pace was the most rapid in 2021 with an increase of 1,848%. As a result, imports attained the peak of 7.7K tons, and then declined significantly in the following year.

In value terms, imports of cotton waste (including yarn waste and garnetted stock) dropped notably to $18K in 2022. In general, imports faced a dramatic downturn. The pace of growth appeared the most rapid in 2021 with an increase of 1,180%. As a result, imports attained the peak of $8.2M, and then contracted rapidly in the following year.

Top Suppliers of Cotton Waste (Including Yarn Waste and Garnetted Stock) to Nigeria in 2022:

1. Norway (14.5 tons)
2. China (12.0 tons)

Source: IndexBox Market Intelligence Platform