West Africa · NG · North gin, quality-adjusted
Nigeria
A base-grade ICE bale in Nigeria is $348.48 — -16.8% versus the US nearby.
Bale
$348.48
217.7 kg net
Cents per pound
72.6 ¢
SLM 1-1/16″ equivalent
vs ICE
-16.8%
Rank 40 of 41
Bales per $1,000
2.87
US buys 2.39
Local quote
- Currency
- NGN · naira
- FX / USD
- 1,480 NGN
- Per kilogram
- 2,368.82 NGN
- Per bale
- 515,750 NGN
- Implied PPP
- 1,231.637 NGN / USD
- Market FX
- 1,480.000 NGN / USD
The implied PPP rate is cheaper than the market rate — naira looks undervalued on a cotton basket.
The physical
- Role
- Producer
- Production
- 300K bales
- Mill use
- 220K bales
- Source
- North gin, quality-adjusted
- Tier
- estimate
Quality and inland logistics vs SLM 1-1/16″. The naira is the other half of the discount.